Galaxy Digital will move more of its operations offshore because of a 'regulatory headache' in the US, billionaire crypto bull Mike Novogratz says

• Galaxy Digital will move more of its operations offshore, Mike Novogratz says.
• High-profile collapses have created a "regulatory headache" for the crypto firm in the US, he told analysts.
• "We still have a hangover … from the denting of trust that FTX and other bad actors in the space created," Novogratz added.

Crypto investing giant Galaxy Digital is set to move more of its operations offshore because of a difficult regulatory environment in the US, its CEO Mike Novogratz said Tuesday.

The billionaire investor and bitcoin bull told analysts that the collapse of high-profile digital asset firms including failed exchange FTX have led to a crackdown in the US, leading to Galaxy focusing on accelerating growth abroad.