Chainfeeds Introduction:
Galaxy Digital is undoubtedly the center of recent discussions. What exactly is this institution dubbed as "Wall Street's most crypto-savvy institution"?
Article Source:
https://x.com/ai_9684xtpa/status/1952545297756028972
Article Author:
Ai Yi
Perspective:
Ai Yi: Galaxy Digital is a crypto financial services and asset management company established in late 2017, currently operating five business lines: trading, investment, asset management, consulting, and mining, and is known as "Wall Street's most crypto-savvy institution". Its core profit department is trading and investment, with trading business mainly providing over-the-counter spot trading. This has also been Galaxy's most frequent role positioning recently; over-the-counter business partners include traditional financial institutions (such as Goldman Sachs, State Street Bank), digital asset management companies, custody and staking service providers (like Fireblocks / BitGo), and technology companies. According to the official website, the platform's current asset scale is $7 billion, asset management scale is $4.7 billion, staked assets are $2.3 billion, supporting 15 public chains and networks, and has established cooperation with 15 ETPs and ETFs. Landmark events: 1) Helping an ancient whale sell 80,000 BTC: This is one of the largest nominal Bitcoin transactions in history that everyone is familiar with. With a market value exceeding $9 billion, the Q3 financial report should look very impressive, and Galaxy's OTC customers will never worry about finding clients again. 2) The main over-the-counter trading channel for ETH MicroStrategy SharpLink Gaming: Since 06.2025, completed multiple large ETH transactions, with some purchased ETH managed through Galaxy Digital's custody services and participating in staking for returns. Interesting facts: 1) Galaxy is the largest buyer of 41 million SOL in the FTX bankruptcy auction: Once bought 25.52 million tokens at $64 each, with a current return rate of 154% if not sold; in April this year, Lookonchain also reported that Galaxy Digital might have shifted from ETH to SOL, selling 65,600 ETH to acquire 752,240 SOL, when ETH was only $1,579.8 and SOL $136.7, missing ETH's subsequent doubling in price. 2) Galaxy once profited over hundreds of millions from LUNA: Purchased 18.51 million LUNA at a discount of $0.22 each (LUNA peaked near $120), ultimately being fined $200 million for suspected market manipulation after the collapse. 3) In May this year, Galaxy moved from the Toronto Stock Exchange to NASDAQ listing: As of Q1 2025, Galaxy Digital officially disclosed holding $1.1 billion in cash and stablecoins, as well as $1.9 billion in equity.
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