Mike Novogratz

Participated as a principal of an institutional trading and asset‑management firm that evaluated and in some cases submitted offers for distressed crypto platforms and their assets. In the Voyager situation Galaxy Digital engaged in due‑diligence, submitted indicative bids and publicly commented on valuation and recovery scenarios. Those concrete bidding actions constrained sale processes and helped set reference prices for asset pools that included tokens and on‑exchange inventories of VGX. Operated trading desks that provided liquidity in secondary markets for Voyager‑linked tokens and related cryptocurrencies. By placing buy and sell orders, providing OTC quotes and executing block trades, the firm influenced spreads and short‑term market depth for VGX. That operational liquidity provision translated into measurable impacts on the pricing trajectories available to creditors and retail holders attempting to trade VGX during restructuring. Contributed to public market narratives through interviews and statements about asset valuations and likely recovery rates. These communications were coordinated with active bidding and trading strategies, making them part of a documented set of actions that moved both sentiment and actual transaction flows in VGX. The combination of bidding behavior, trading activity and public valuation commentary represents a traceable set of interventions by an institutional actor that materially affected how VGX was priced, where liquidity was available and what recovery mechanisms were feasible for stakeholders.