25-Year Finance Veteran Joins from
Point72
NEW
YORK, Dec. 13, 2024 /CNW/ - Galaxy Digital
Holdings Ltd. (TSX: GLXY) ("Galaxy") today announced that
Tony Paquette will be joining the
firm as Chief Financial Officer. He succeeds Alex Ioffe, who will transition into a Senior
Advisor role at Galaxy on January 1,
2025.
"We are pleased to welcome an executive of Tony's caliber to
Galaxy during a period of significant growth for our firm," said
Michael Novogratz, Founder and Chief
Executive Officer of Galaxy. "Tony's substantial track record of
overseeing finance operations at some of the top firms in finance
will enable us to further enhance our operational infrastructure
and aggressively scale our business globally. We are pleased to
continue to execute our growth strategy with Tony as a key part of
our executive team."
Mr. Paquette brings over 25 years of experience across a range
of roles in financial services and fintech. Most recently, he
served as Chief Financial Officer of Point72 for over four years,
leading the firm's global finance, treasury, broker relations,
real estate and facilities organizations. Prior to that, he served
as a Business Unit Leader at fintech company Social Finance (SoFi),
overseeing the company's treasury, market risk, and regulatory and
financial operations, and also helped spearhead its international
expansion. Prior to SoFi, Mr. Paquette was a Managing Director at
JP Morgan Chase for nearly a decade, holding roles including
Portfolio Manager and Global Head of Funding and Liability
Management. Before joining JP Morgan Chase, he was a Managing
Director in Bank of America's Corporate Investments Group and
Treasury division.
Mr. Paquette serves on the boards of Scholars of
Finance, Junior Achievement of New
York, the Concussion Legacy Foundation, and
previously, Managed Funds Association (MFA) and the Brown
University Athletics Advisory Council. He is also an active
advisor to several Fintech startup companies.
"I am thrilled to join Galaxy, whose reputation as a world-class
operator and investor in digital assets, digital infrastructure and
other emerging technologies precedes it," said Mr. Paquette. "I
look forward to expanding upon Galaxy's best-in-class finance team
and helping further cement the firm as the preeminent industry
leader."
"I want to express my gratitude to Alex for building a robust
finance team that has helped to prepare Galaxy for a
potential U.S. listing," said Mr. Novogratz. "In
his nearly four years with Galaxy, Alex helped the
company navigate through periods of unprecedented growth and market
turbulence."
About Galaxy
Galaxy (TSX: GLXY) is a digital asset and blockchain leader
providing access to the growing digital economy. We serve a
diversified client base, including institutions, startups, and
qualified individuals. Since 2018, Galaxy has been building a
holistic financial platform spanning three complementary operating
businesses: Global Markets, Asset Management, and Digital
Infrastructure Solutions. Our offerings include, amongst others,
trading, lending, strategic advisory services, institutional-grade
investment solutions,
proprietary bitcoin mining and hosting
services, network validator services, and the development of
enterprise self-custodial technology. The company is headquartered
in New York City, with global
offices across North America,
Europe, and Asia. Additional information about Galaxy's
businesses and products is available on www.galaxy.com.
Disclaimers and Additional Information
The TSX has not approved or disapproved of the information
contained herein.
CAUTION ABOUT FORWARD-LOOKING STATEMENTS
The information in this document may contain "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, as amended (the "Securities Act"), Section 21E of the
Securities Exchange Act of 1934, as amended and "forward-looking
information" under Canadian securities laws (collectively,
"forward-looking statements"). Our forward-looking statements
include, but are not limited to, statements regarding our or our
management team's expectations, hopes, beliefs, intentions or
strategies regarding the future. Statements that are not historical
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scaling and growth strategy (the "transactions"), and the parties,
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affecting us will be those that we have anticipated. These
forward-looking statements involve a number of risks, uncertainties
(some of which are beyond our control) or other assumptions that
may cause actual results or performance to be materially different
from those expressed or implied by these forward-looking
statements. These risks include, but are not limited to: (1) the
inability to complete the proposed domestication and reorganization
transactions, due to the failure to obtain shareholder and stock
exchange approvals, or otherwise; (2) changes to the proposed
structure of the transactions that may be required or appropriate
as a result of applicable laws or regulations or as a condition to
obtaining shareholder or stock exchange approval of the
transactions; (3) the ability to meet and maintain listing
standards following the consummation of the transactions; (4) the
risk that the transactions disrupt current plans and operations;
(5) costs related to the transactions, operations and strategy; (6)
changes in applicable laws or regulations; (7) the possibility that
the Company may be adversely affected by other economic, business,
and/or competitive factors; (8) changes or events that impact
the cryptocurrency industry, including
potential regulation, that are out of our control; (9) the risk
that our business will not grow in line with our expectations or
continue on its current trajectory; (10) the possibility that our
addressable market is smaller than we have anticipated and/or that
we may not gain share of it; (11) the possibility that there is a
disruption in mining impacting our ability to achieve expected
results or change in power dynamics impacting our results or our
ability to increase load capacity; (12) any delay or failure to
consummate the business mandates or achieve its pipeline goals in
banking and Gk8; (13) liquidity or economic conditions impacting
our business; (14) regulatory concerns, technological challenges,
cyber incidents or exploits
on decentralized networks; and (15) those
other risks contained in the Annual Information Form for the year
ended December 31, 2023 available on
the Company's profile at www.sedarplus.ca and its
Management's Discussion and Analysis, filed on November 7, 2024. Factors that could cause actual
results to differ materially from those described in such
forward-looking statements include, but are not limited to, a
decline in the digital asset market or general economic conditions;
the possibility that our addressable market is smaller than we have
anticipated and/or that we may not gain share of the stated
addressable market; the failure or delay in the adoption of digital
assets and the blockchain ecosystem; a delay or failure in
developing infrastructure for our business or our businesses
achieving our banking and Gk8 mandates; delays or other challenges
in the mining business related to hosting, power or our mining
infrastructure, or our ability to capture adjacent
opportunities; any challenges faced with respect
to decentralized networks, considerations
with respect to liquidity and capital planning and changes in
applicable law or regulation and adverse regulatory developments.
Should one or more of these risks or uncertainties materialize,
they could cause our actual outcomes to differ materially from the
forward-looking statements. We are not undertaking any obligation
to update or revise any forward-looking statements whether as a
result of new information, future events or otherwise. You should
not take any statement regarding past trends or activities as a
representation that the trends or activities will continue in the
future. Accordingly, you should not put undue reliance on these
statements.
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SOURCE Galaxy Digital Holdings Ltd.