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    Let’s see this mighty ‘Goldman Sachs of crypto’

    Mike Novogratz is pouring $400 million worth of his own crypto-assets to start a merchant bank

    A wealthy guy named Mike Novogratz has distinguished himself as a member of his high school wrestling team, as a member of the National Guard, and as a partner at Goldman Sachs. Now the 53-year-old investor has plans to throw major money into starting cryptocurrency-based bank. That specific quote—“the Goldman Sachs of crypto”—comes from “a person familiar with [Novogratz’s] plans,” the leading anonymous source in a recent Bloomberg story on the investor’s cryptocurrency ambitions. Novogratz’s crypto-enabled merchant bank will be called Galaxy Digital Holdings, and will be active in four cryptocurrency arenas—trading, taking principal stakes in initial coin offerings, selling market research, and asset management. And in true 1990s style,…