Galaxy Digital plans to open a new office in San Francisco, founder and CEO Mike Novogratz told The Block in a recent episode of The Scoop. The cryptocurrency firm is headquartered in New York City, with offices in Tokyo, Hong Kong, London, Vancouver, and New Jersey, but it has yet to open a California branch.
When asked how Galaxy Digital plans to compete for deals in the blockchain ecosystem, Novogratz said "the locus of a lot of the space has moved back to San Francisco" and that he wants to start an office in the Golden Gate City.
"We’re still getting good deal flow now...but I think being in San Francisco will help as well," Novogratz said. "If you’re a merchant bank and you want to provide service to customers, being close to your customer helps. I want to do the trading for Pantera and Polychain and the rest of the guys."