Cryptocurrency exchanges and firms constantly change the structure of their board as project evolve, sometimes to join another company or from differences in how the platform is run. A recent report from CoinDesk shows that Galaxy Digital has recently lost its chief technology officer, Mike McMahon.
Though McMahon has yet to secure a position elsewhere, he is “looking for [his] next opportunity.” He has yet to confirm any other details and has gone as far as to deny any other comments.
So far, CoinDesk has also requested more information from Galaxy Digital, but they have not responded. In the meantime, the platform continues to look for a replacement, which they are advertising on LinkedIn. Their new CTO will need to provide leadership to the tech team, while building and coaching alongside them. They will also be responsible for creating partnerships that will keep bringing in revenue and clients that support Galaxy Digital’s technology.
McMahon only joined the crypto merchant bank a year ago, which was preceded by work with traditional mainstream companies like Bank of New York-Melon, Morgan Stanley, and Goldman Sachs. He also worked with a fintech company named ENSO Financial Analytics for two years, which is owned by CME Group.
Galaxy Digital was founded by Michael Novogratz, and it remains one of the most active investors in startups of the crypto community. Most recently, it backed up Bison Trails and CipherTrace. In January, the company managed to raise $250 million, making it easier for crypto firms to secure loans available in USD.
Novogratz recently raised his Galaxy Digital share holdings by 2.7%, making the total stake 79.3%.
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