Andrew Siegel was leaving his role as Galaxy's general counsel, an SEC filing from Galaxy Digital Inc. said on August 11, 20251. Galaxy named Matt Friedrich chief legal officer in the same filing, effective September 8, 2025. Bloomberg Law reported the succession one day later, on August 12, 2025, naming Siegel as the executive Friedrich would replace2.
The second executive exit at Galaxy on the record since 2024
Leadership moves CryptoLately has verified at Galaxy, by year
- 2025: 1
- 2020, 2021, 2022, 2023, 2024, 2026
Moves: The Moves Ledger, CryptoLately's record of verified leadership moves, Oct. 3, 2016 to Oct. 2, 2026.
Read the chart as a table
| Item | Value |
|---|---|
| 2020 | 1 |
| 2021 | 1 |
| 2022 | 0 |
| 2023 | 1 |
| 2024 | 1 |
| 2025 | 1 |
| 2026 | 1 |
20 executive exits on the record in 2025
Executive exits CryptoLately has verified, by year; 2026 through Oct. 2, 2026
- 2025: 20
- 2019, 2020, 2021, 2022, 2023, 2024, 2026
Moves: The Moves Ledger, CryptoLately's record of verified leadership moves, Oct. 3, 2016 to Oct. 2, 2026.
Read the chart as a table
| Item | Value |
|---|---|
| 2019 | 6 |
| 2020 | 1 |
| 2021 | 9 |
| 2022 | 9 |
| 2023 | 8 |
| 2024 | 11 |
| 2025 | 20 |
| 2026 | 27 |
The move
Galaxy's filing credited Siegel with building the company's legal team. “Mr. Friedrich succeeds Andrew Siegel, who has served as Galaxy's General Counsel since 2017,” the filing said. “During that time, Mr. Siegel built and led a world-class legal and compliance team while navigating an evolving regulatory landscape and playing a key role in Galaxy's listing on Nasdaq earlier this year”1. Mike Novogratz, Galaxy's chief executive and founder, thanked Siegel by name. “Andrew's steady leadership and deep commitment to Galaxy's mission have helped shape the company from the very beginning,” Novogratz said. “On behalf of the entire company, I want to thank Andrew for his service and wish him continued success in his next chapter”.
Bloomberg Law's Brian Baxter named two of Friedrich's prior stops. He was a litigation partner at Boies Schiller Flexner, and a partner at Freshfields before that2. Friedrich would report to Novogratz. He would run Galaxy's global legal and compliance work, Baxter reported.
Before and after the role
Siegel held the general counsel job for roughly eight years, since 20171. Bloomberg Law reported that Galaxy completed its Nasdaq listing in May 20252. Galaxy announced Siegel's exit three months later, on August 11, 2025. Friedrich came from senior in-house roles at Cognizant Technology Solutions and Chevron. He spent 13 years as a federal prosecutor too, the filing said. His new portfolio covers litigation, regulatory engagement, corporate governance and public policy.
What came next
Galaxy's legal team, run by Friedrich since September 8, 2025, carried forward a court fight over BitGo's claim to a $100 million breakup fee3. The Block reported on May 21, 2026 that BitGo accused Galaxy of hiding regulatory probes that would have complicated their 2022 merger attempt. In May 2026, about eight months into Friedrich's tenure, that dispute was still in court.
Sources
- Galaxy Digital Inc., "Galaxy Appoints Matt Friedrich as Chief Legal Officer," SEC 8-K exhibit, August 11, 2025, https://www.sec.gov/Archives/edgar/data/1859392/000185939225000036/cloannouncement8625.htm
- Brian Baxter, "Novogratz's Galaxy Digital Taps Litigation Veteran as Law Leader," Bloomberg Law, August 12, 2025, https://news.bloomberglaw.com/business-and-practice/novogratzs-galaxy-digital-taps-litigation-veteran-as-law-leader
- RT Watson, "Galaxy's Novogratz and BitGo face off in court over $100 million claim: Bloomberg," The Block, May 21, 2026, https://news.google.com/rss/articles/CBMigwFBVV95cUxQRnBkbGpFNDNNRkFBc3hwVC1sTDd0RGsxS0ExY0hpZk51WXBFaTJHZHRtWHg5R2hQdnFJR0twcGc4dUsyRWhNYkg4amp2TmEtWDhhU3NLeGV0VkV3cnA0MFFrYUVlNUZYYV9vUUVick8wTEw2ZTI0a3NEbDhfcUNleTNNcw?oc=5