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Galaxy Digital Appoints Hedge Fund Veteran Tony Paquette as New CFO

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.

Jerry Rolon

After working for 7 years as a Internet Marketer, Jerry now aims to explore the journalistic side of Internet. With his impeccable knowledge in this domain, he churns out some of the best news articles from the internet niche. With respect to acedamics, Jerry earned a degree in business from California State University.

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