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Posted on: Jan. 23, 2019, 5:31 p.m.
Galaxy Digital, founded by bitcoin king Michael Novogratz, is raising at least $250 million for a credit fund to offer loans to cryptocurrency firms, according to people familiar with the matter. Borrowers will be able to get a loan by using cryptocurrencies, buildings, and cryptocurrency mining machines as collateral. Galaxy has been lending to crypto firms on its balance sheet since last year, and it has seen growing demand from borrowers amid the downturn in cryptocurrency. Full investment news articleRelevent to this post: Michael Novogratz Michigan State University Office of Investments,