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Browse: Home / 2022 / June / 10 / Mike Novogratz Says Two-Thirds of Crypto Hedge Funds Will Fail – Bloomberg

Mike Novogratz Says Two-Thirds of Crypto Hedge Funds Will Fail – Bloomberg

By Securities Docket on June 10, 2022, 6:08 am

Mike Novogratz, the founder and chief executive officer of Galaxy Digital Holdings Ltd., said two-thirds of the hedge funds that invest in cryptocurrencies will fail as a consequence of the current market downturn.

“Volume will go down, hedge funds will have to restructure,” Novogratz said at the Piper Sandler Global Exchanges & Brokerage Conference in New York. “There are literally 1,900 crypto hedge funds. My guess is two-thirds will go out of business.”

Source: Mike Novogratz Says Two-Thirds of Crypto Hedge Funds Will Fail – Bloomberg

Posted in Industry, Top | Tagged Cryptocurrency, Hedge Funds

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