Galaxy Digital CTO leaves company

Mike Novogratz's crypto merchant bank, Galaxy Digital has lost its chief technology officer, CoinDesk reports. Mike McMahon stepped down from his position and has left the company.

“I have already left Galaxy Digital and looking for my next opportunity,” said McMahon.

The company hasn’t found a replacement yet and has posted a job listing on LinkedIn. The new CTO will be responsible for building, coaching and providing hands-on leadership to the technology team. They should also “own the technology strategy and roadmap” and “build a strong partnership with the business to ensure technology is supporting revenue-generating, client-facing business initiatives.”

In recent months, five other execs have left the company. Galaxy Digital explained previous changes were caused by the shift in the company’s interests from small ICOs to larger institutions.