Galaxy Digital Holdings has appointed Tony Paquette, a former executive at Point72, as its new chief financial officer. Paquette will assume the role on January 1, 2025, succeeding Alex Loffe, who will transition to a senior advisory position.
Galaxy Digital’s New CFO
The leadership change occurred during a challenging financial period for the company and amid a shifting regulatory environment for the crypto industry in the US.
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Paquette expressed his excitement about joining Galaxy and acknowledged Loffe’s contributions to building a “robust finance team” ahead of the firm’s potential US listing:
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 (…) 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
Paquette brings extensive experience to the role, including serving as CFO at Point72, leading a business unit at SoFi, and holding leadership positions during his nearly decade-long tenure at JPMorgan Chase. His arrival coincides with Galaxy Digital’s latest earnings report, which revealed a net loss of $54 million—30% higher than the previous quarter—while maintaining $2.1 billion in equity capital as of September 30, 2024.
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Galaxy Digital might continue its upward trajectory despite the recent losses with the incoming Trump administration signaling plans for crypto-friendly regulations in 2025. This could potentially benefit the company’s operations and market outlook.
