As a result, it’s very anticipated crypto hedge fund has finally been eliminated. This billionaire investor Michael Novgorod has pulled back from Bitcoin at the end of last year, which has prompted market volatility. He has betrayed his whole over $ 400 million worth of crypt properties on an ambitious project. This is what some ecosystem describes as the Goldman Sachs. Since then, a full service crypto merchant has come back with a market definition declaration of plans to open the bank.
Source - https://news.bitcoin.com/michael-novogratz-400-million-bet-form-giant-crypto-merchant-bank