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Parikshit Mishra
Parikshit Mishra is the news editor for CoinDesk during the mid Asia and early European hours. He does not have any crypto holdings.
Galaxy Digital (GLXY), the crypto-focused financial-services firm run by noted investor Michael Novogratz, said on Wednesday that is has exposure of around $76.8 million of cash and digital assets tied to troubled crypto exchange FTX.
Galaxy said it is withdrawing $47.5 million of that amount.
The firm also reported net loss of $68.1 million for the third quarter, compared with a profit of $517.9 million in the same period last year.
Galaxy Digital also said that Damien Vanderwilt will step down from his role as co-president in January.
Last week, CoinDesk reported that Galaxy Digital was planning to cut at least 20% of its global workforce, according to sources.
