As an experienced financial analyst who has closely followed the crypto market for years, I see this acquisition by Galaxy Digital as a strategic move that further solidifies their position as a major player in the blockchain infrastructure sector. With Michael Novogratz at the helm and his deep background on Wall Street, they have already established themselves as a credible name in crypto trading and investment management.
I have discovered that Galaxy Digital, under the leadership of Michael Novogratz and as a publicly traded crypto firm, has taken over the majority of assets belonging to CryptoManufaktur LLC, a blockchain node operator. This acquisition is expected to significantly boost Galaxy Digital’s Ethereum holdings by approximately 43%.
In a private press release to CoinDesk, the arrangement between CryptoManufaktur, referred to as CMF, was revealed without sharing the specifics.
Thorsten Behrens, co-founder of CMF, is set to be part of a trio of engineers joining Galaxy’s blockchain infrastructure team. This team is responsible for offering staking and validator services to eligible investors, protocols, and digital asset platforms, as stated in the press announcement.
Since its inception in 2020, CMF has been dedicated to constructing the foundation for Chainlink’s blockchain oracle project. Subsequently, they broadened their scope to manage automated proof-of-stake node deployment infrastructure on Ethereum. This recent deal brings approximately $1 billion worth of Ethereum assets under their management, boosting their current total to an impressive $3.3 billion.
Galaxy, known for its crypto trading and investment management services, has been broadening its horizons in the blockchain sector. Notably, Michael Novogratz, a prominent figure in the cryptocurrency world and frequently featured on financial news channels like CNBC, gained his prominence from his extensive experience on Wall Street. He previously held executive positions at Goldman Sachs and Fortress Investment Group.
“Galaxy is quickly growing its blockchain infrastructure and staking capabilities to offer top-tier technological expertise and assistance to key areas of the digital asset sector, according to Zane Glauber, head of Galaxy’s blockchain infrastructure team, in a recent statement. The acquisition of CMF marks an essential step forward for us, strengthening our role as a go-to technical collaborator for protocols and developers.”
Read More
- AAVE PREDICTION. AAVE cryptocurrency
- W PREDICTION. W cryptocurrency
- PENDLE PREDICTION. PENDLE cryptocurrency
- ATR PREDICTION. ATR cryptocurrency
- PERP PREDICTION. PERP cryptocurrency
- CAPS PREDICTION. CAPS cryptocurrency
- MPLX PREDICTION. MPLX cryptocurrency
- PLXY PREDICTION. PLXY cryptocurrency
- Palworld: Sibelyx Troubles and Ranch Woes – How to Fix?
- PAXG PREDICTION. PAXG cryptocurrency
2024-07-19 14:18