Key Notes
- Prince brings critical industry knowledge from BlockFi that will help Galaxy Digital navigate market risks while expanding its financial product offerings.
- Recent executive appointments, including Anthony Paquette as CFO, demonstrate Galaxy's commitment to building an elite leadership team.
- The company's partnership with BitGo Trust enables institutional staking services where investors can earn rewards while using assets as collateral.
Michael Novogratz’s Galaxy Digital may have scooped up another industry veteran in its continuous effort to strengthen its executive team. This follows after the company reportedly onboarded Zac Prince as its Managing Director on Tuesday, February 25th.
While this appointment may appear random, it might be noteworthy that it is not. As a fact, the move might just be in line with Galaxy’s vision to expand its digital asset offerings and stay ahead o f the curve, particularly in this period that crypto looks to be entering a pivotal stage. That is, in view of recent regulatory developments and a generally friendlier environment for digital assets to thrive.
Galaxy Digital Continues Strategic Leadership Appointments
Zac Prince is quite familiar with the crypto industry. He was the former CEO and co-founder of BlockFi, and his industry know-how, particularly in digital asset lending and financial services, will undoubtedly be a huge addition to Galaxy Digital.
According to an internal memo, Prince is billed to work closely with Galaxy’s President, Chris Ferraro. His history in lending is expected to help Galaxy strategize its financial products into what the current cryptocurrency market needs, especially in this volatile period.
That is, considering the fact that his time at BlockFi must have given him first-hand knowledge of market risks and how to get around them.
That kind of insight will come in handy for Galaxy even as it looks to expand its crypto services as well as its market presence.
In December 2024, Galaxy Digital also welcomed Anthony Paquette as Chief Financial Officer. Paquette came in with over 25 years of financial leadership experience, having served as CFO at Point72. His extensive background includes roles at SoFi and JP Morgan Chase, which makes him well qualified to oversee Galaxy’s financial operations and support its global expansion plans.
Growth Plans
The executive appointments that Galaxy Digital has been making, especially in recent times, suggests that there is a conscious effort by the company to ensure that its leadership team is made up of the best of the best. It appears that Galaxy is not content with merely qualified candidates but with seasoned professionals that have what it takes to help the company to drive growth, come up with innovations, and effectively navigate the ever-evolving digital finance space.
Earlier this month, Coinspeaker also reported about Galaxy teaming up with BitGo Trust to offer staking services to institutional investors. According to reports, this collaboration intends to pave the way for a new crypto-investing model where rewards are earned, and assets can be used for collateral all in one.
nextDisclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
