Ex-VP of Goldman to Join Novogratz's Bank, Bloomberg Says

According to the informed sources of Bloomberg, Digital Galaxy Bank got another experienced team member
10 April 2018   193

The post of the COO of the cryptocurrency bank Digital Galaxy, founded by investor-billionaire Mike Novogratz, will be occupied by former vice-president of Goldman Sachs Richard Kim. This is reported by Bloomberg with reference to informed sources.

A resident of London, Kim will join Galaxy Digital in the coming weeks and will most likely move to New York. As noted by another source, in Goldman Sachs Kim played an administrative role in the currency business and was among those who worked on launching the project on crypto trading.

Richard Kim is not the first who left Goldman Sachs and gone to work in the crypto industry. So, in January, Michael Buchella, who held a number of administrative positions in the bank, joined the BlockTower Capital crypto investment fund as head of business development.

Additionally, one of the co-founders of BlockTower was Matt Goetz, who left Goldman Sachs last year. James Radecki, another former employee of the Wall Street bank, left the institution in 2016 and currently works as head of business development at Cumberland Mining, one of the largest firms engaged in trading in crypto-currencies.

In addition, in addition to Novogratz himself, who worked at Goldman Sachs in the 1990s, Luka Jankovic, a former hedge fund analyst, is currently working at the Digital Galaxy crypto bank.

GSR Capital to Invest $160M in tZero

At the moment, tZero is conducting so-called Security Token Offering (STO)
02 July 2018   203

GSR Capital, a Hong Kong-based company, will invest $ 160 million in a subsidiary of the retail giant Overstock, a blockchain platform tZero. This is reported by Bitcoinist.

tZero is the first of its kind regulated exchange for security-tokens. According to representatives of Overstock, the innovative block-platform, which is being prepared for launch, is called to give "efficiency and transparency" to the capital markets.

Currently, the so-called Security Token Offering (STO) of tZero is being held. According to the letter of intentions, GSR Capital plans to purchase up to $ 160 million worth tZero platform tokens by August 6 during the round of private financing.

Currently, tZERO tokens are available to a limited number of accredited investors at a price of $ 10 per coin. According to data provided by representatives of Overstock, about 1000 buyers from 30 countries of the world took part in the token.

I want to thank our strategic investors again for their continued support, as well as the tZERO team for their ingenuity in making a preferred equity security token possible.

Patrick Byrne

Founder and CEO, Overstock.com and Executive Chairman, tZERO 

GSR Capital is a venture company focused on investing in high-tech companies in the early stages of development. GSR has offices in Beijing, Hong Kong and the US. In March, this company invested $ 500 million in National Electric Vehicle Sweden

Immediately after the appearance of information on the plans of GSR Capital to invest in tZero, the rate traded at NASDAQ of Overstock shares jumped immediately by 12.5%.

Note that the participation of GSR in the capital of tZERO company will not give the venture company the right to vote, but will grant the right to receive dividends, the size of which will be formed on the basis of the growth dynamics of the project's token. In addition, holders of tokens will be paid quarterly 10% of the income of the trading platform tZERO.