Richard Kim has an impressive resume and was working as the Executive Director of the Goldman Sachs office in London. He has allegedly quit that job after being offered to serve as the Chief Operating Officer of the merchant bank Galaxy Digital by Mike Novogratz according to CNBC.
Galaxy Digital manages assets for blockchain-related ventures, including cryptocurrency as well as consultation services for blockchain startups.
The number of companies and industries entering the blockchain market seems to be growing exponentially. Whether it be the oil industry in the Middle East or medical facilities in New York state, blockchain technology is advancing rapidly. With all of these advancements, it seems fitting that countless former investment executives are beginning to move into the market.
According to the research firm Autonomous NEXT, 75 crypto funds were added this year making a grand total of 245. To put that into perspective, there were only 19 firms in 2016.
Novogratz himself left Fortress Investment Group in 2015 and started up Galaxy. In November 2017 Novogratz told CNBC's Fast Money, "Bitcoin could be at $40,000 at the end of 2018. It easily could." He followed up that comment by stating, "Ethereum, which I think just touched $500 or is getting close, could be triple where it is as well."
Late last year Novogratz was prepared to launch what was supposed to be the world’s largest digital currency fund to date, but it was put on hold. He said he didn’t like the starting point to take other investors’ money but his group was, “still feverishly building out a full merchant bank for crypto, i.e., I am still very bullish on the space.”