Michael Novogratz’s Galaxy Digital Lists on Nasdaq as GLXY, Valued at $7.5B, Discusses Tokenization with SEC

Galaxy Digital, led by Michael Novogratz, has completed its uplisting to the Nasdaq and began trading under the ticker symbol GLXY. The company, valued at approximately $7.5 billion, marks its transition to the U.S. public markets after being listed on the Toronto Stock Exchange since 2020. Novogratz described the path to the Nasdaq listing as ‘unfair, infuriating,’ citing a nearly four-year process and over $25 million in costs. He highlighted the regulatory scrutiny and high auditing fees faced by crypto companies, which he expects to decrease by up to 40% now that Galaxy is on the Nasdaq. The listing process, which typically takes 45 to 90 days, took Galaxy 1,320 days and involved nine rounds of comments with the SEC. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant