New NAGA CEO Michael Milonas outlines strategy to shareholders
The letter hints at some of the problems which have been plaguing NAGA, which led to the recent ouster of longtime CEO Ben Bilski.
The letter hints at some of the problems which have been plaguing NAGA, which led to the recent ouster of longtime CEO Ben Bilski.
NAGA co-Executive Director Michael Milonas will become Group CEO, while Benjamin Bilski is moving to focus on technology as CIO.
The move comes as NAGA seems to have turned a corner following a loss-making 2022.
NAGA saw $13.5 billion in monthly trading volumes in Q1-2023, basically identical to the $13.6 billion it averaged in 2022.
Copy trading represents 55% of overall trades whilst 2023 customer deposits care up by 50% as compared to 2022.
NAGA will maintain its current listing status following the consummation of any such transaction.
NAGA did about $13.5 billion in monthly trading volume in 2022, or total annual volume of roughly €150 billion.
In September NAGA achieved its best result on operating cash flow basis in 2022 by delivering over €1M operating cash flow.
Contis by Solaris and NAGA Pay are launching a VISA-approved card program that enables users to spend both fiat and cryptocurrency.
The markets seem to focus nowadays on bad news, and look to “sell now” and worry about buying back later.