Crypto Financial-Services Firm Galaxy Digital Hires Andrew Lace for Its London Trading Division

The firm has been hiring aggressively despite concerns of a crypto winter.

By Will Canny

Aug 31, 2022 at 3:56 p.m. UTC

Updated Aug 31, 2022 at 4:49 p.m. UTC

CDCROP: Mike Novogratz, Founder and CEO, Galaxy Digital (Suzanne Cordiero/Shutterstock/CoinDesk) — Mike Novogratz, Founder and CEO, Galaxy Digital (Suzanne Cordiero/Shutterstock/CoinDesk)

Will Canny

Will Canny is CoinDesk's finance reporter.

Galaxy Digital (GLXY.TO), the cryptocurrency-focused financial services firm run by Michael Novogratz, named Andrew Lace as vice president of institutional sales in its trading division, a company representative told CoinDesk.

Lace joins the London team from Elwood Technologies, the digital assets trading firm owned by Brevan Howard co-founder Alan Howard, where he was a sales director. He previously worked for Refinitiv and Thomson Reuters.

Galaxy has been hiring aggressively, even as the crypto market slides in what’s being called a crypto winter. Bitcoin (BTC), the largest cryptocurrency by market cap, has lost about 60% of its value this year and the total crypto market cap is around $980 billion, down from about $1.9 trillion at the start of the year.

Galaxy Digital said it plans to finish the year with over 400 employees, compared with fewer than 300 at the start of 2022.

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