Famous Billionaire Joins DeFi Craze With His Latest Investment

Famous Billionaire Joins DeFi Craze With His Latest Investment The famous billionaire joins the DeFi craze with his latest investment. Mike Novogratz, CEO of crypto investment firm Galaxy Digital, got involved in the DeFi (decentralized finance) craze with his latest investment. Billionaire and former hedge fund manager Mike Novogratz has announced that he has partnered with asset management firm ParaFi Capital, which has set blockchain and DeFi as its focal point. The partnership will be around mutual benefits where Galaxy Digital can leverage ParaFi’s expertise to identify opportunities in the emerging DeFi space. Christopher Ferraro, who heads Galaxy Digital, of which Mike Novogratz is CEO, said in his statement on the subject that he believes the partnership will be in a good place to determine which applications and teams are likely to grow exponentially at DeFi. Speaking about the new partnership of Galaxy Digital, Mike Novogratz stated that they are looking for "partners that will carry the crypto ecosystem forward" and stated that ParaFi is an initiative with a similar view.   Novogratz stated the following in his statement: "Our views about Parafi and the transformative potential of defi are similar." ParaFi Capital's founder and managing partner, Ben Forman, has an optimistic view of DeFi's progress. Founded in 2018, ParaFi Capital is known as a successful name that capitalizes on DeFi protocols, including Compound (COMP), Aave (LEND), Uniswap (UNI), and Synthetix (SNX). Novogratz announced earlier this month that DeFi tokens accounted for three percent of its portfolio. However, the DeFi ecosystem has exploded. The positive momentum of DeFi investments should not be perceived as a surprise, as YFI, the management token of Yearn Finance, increased from $ 30 to $ 43,966.