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Billionaire Mike Novogratz’s Galaxy Digital Welcomes Former Genesis Exec as Sales Head

Last updated:

June 26, 2023 06:58 EDT

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Sead Fadilpašić

Journalist

Sead Fadilpašić

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Sead specializes in writing factual and informative articles to help the public navigate the ever-changing world of crypto. He has extensive experience in the blockchain industry, where he has served...

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Last updated:

June 26, 2023 06:58 EDT

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Leon Marshall, a former executive at crypto lending firm Genesis, has joined Mike Novogratz’s Galaxy Digital as global head of sales.

Per his LinkedIn, the crypto trading veteran held the same role at Genesis from January 2019 until June 2023.

Genesis, a part of Digital Currency Group (DCG), filed for bankruptcy at the start of this year.

Marshall transitioned to his new job at Galaxy Digital earlier this month.

“I am sincerely grateful for the chance to collaborate with industry leaders like Mike Novogratz, Jason Urban, Christopher Ferraro, and Erin Brown,” he said in a LinkedIn post. “Together, we will leverage our expertise and experience and I look forward to contributing to the continued success of the firm.”

Marshall’s previous job experience includes strategy and business development at the decentralized platform Gnosis, a portfolio manager at CryptoCompare, and various positions at UBS Investment Bank and JPMorgan Chase.

Marshall added that,

“Having delved into the world of digital assets back in 2017, I am very confident in the bright prospects of the digital asset industry despite the challenges we face.”

Marshall studied at London Business School, New York University (where he focused on ‘Cryptoassets: Regulation and Investment’), and the University of Oxford.

Meanwhile, last week, a US federal judge ruled in favor of Galaxy Digital in a case regarding the termination of a $1.2 billion acquisition deal with BitGo.

The court dismissed BitGo’s lawsuit, stating that Galaxy had a valid basis for ending the agreement due to non-compliant financial documents provided by the digital asset trust company.

In late March, Galaxy said that it had lost a whopping $1 billion last year due to “depressed market conditions” as a result of unrealized losses on certain investments in the financial services company’s primary investments portfolio.

Prior to that, in December 2022, the company announced it would buy Argo’s Helios Bitcoin (BTC) mining facility and provide an additional $35 million loan to help with restructuring efforts.

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