American billionaire and cryptocurrency enthusiast Mike Novogratz announced a plan to create a commercial bank with its own crypto-investment fund. This is reported by Coindesk
Novogratz's investment fund Galaxy Digital Assets Fund concluded a memorandum of intent with First Coin Capital and Bradmer Pharmaceuticals Incorporated, a company established to develop and commercialize a new method for treating brain cancer.
The press release says about the intention to make Galaxy Digital a bank of digital assets. The plan is to work in four business areas: trade, venture investments (such as in ICO), asset management and consulting - the latter to cover the areas of market research, whitepaper in writing, design architecture, business and technical documentation, selection of suppliers and project management.
Novogratz is the chairman and CEO of the new enterprise, and the press release lists eight more people who will constitute the management team. Novogratz is the ex-general director of the investment group Fortress Investment Group, and his enthusiasm for crypto-currency is widely known. He told CNBC in December that he believes Bitcoin can "easily" reach $ 40,000 by the end of 2018.