Michael Novogratz raised $250 million to create cryptocurrency Bank

Mike Novogratz (Mike Novogratz), popular in cryptosuite investor and billionaire, successfully raised $250 million for the establishment of a cryptocurrency Bank, which will receive official registration in Canada.

«$250 million to the financier and his company Galaxy Digital has managed to attract during a heavy fall of crypto-currency market», — said Bloomberg, citing a competent source.

Funds were raised through a private placement, which does not provide for mandatory disclosure of the list of contributors, however, according to the source Bloomberg, among the investors is billionaire Terry GOU (Terry Gou), head of the world’s largest manufacturer of electronics company Foxconn technology.

The amount of collected investments, 25% in excess of the stated goal, according to the plans will be used for the purchase of canadian startup Capital First Coin and on the reverse takeover of the company Bradmer Pharmaceuticals, publicly traded on the stock exchange the TSX Venture Exchange in Canada.

The Bank’s nearest plans – opening new trading platform for cryptocurrencies. In parallel, the Novogratz’s going to make investments in ICO and blockchain startups, and what he planned to carry out through cryptocurrency hedge Fund, the launch of which is deferred. The Bank also plans to conduct financial advice for wealthy clients and to provide services for management of their assets.

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