Galaxy Digital

Galaxy Digital LP is a digital asset and blockchain pioneer founded in 2018, it is a technology-driven financial services and investment management firm that provides institutions and direct clients with a full suite of financial solutions spanning the digital assets ecosystem.

Galaxy is a full-service, digital assets merchant bank led by former Fortress Investment Group hedge fund manager and early cryptocurrency investor, Mike Novogratz.^[3]^[4]^[5]

Background

In February 2018 and is incorporated into the state of Cayman Island. Galaxy was built with the idea of bringing institutions into the blockchain revolution. The Company is headquartered in New York City, with offices in Chicago, San Francisco, London, Amsterdam, Tokyo, Hong Kong, and the Cayman Islands where it was Incorporated.

Galaxy Digital raised about $250 million in a private placement. According to Bloomberg News, an unidentified source said Terry Gou, the billionaire CEO of Foxconn, is one of the investors in the private placement. ^[2]

On August 3, 2018, Galaxy Digital went public and created its IPO.

Overview

Galaxy Digital is a financial services and investment management company, which engages in the digital asset, cryptocurrency, and blockchain technology sectors. At the core of galaxy Digital, includes systems thinkers, connecting financial expertise with technological sophistication, institutions with web3 innovations, and Silicon Valley agility with Wall Street savvy.^[6]^[7]

Galaxy has stood at the forefront of this revolution, building a suite of products, technology, and infrastructure that connects institutions, builders, and entrepreneurs to all points of the crypto economy.

Galaxy Digital operates five synergistic business lines:

Trading
Asset Management
Principal Investments
Investment Banking
Mining.

Galaxy Digital has extensive global expertise in blockchain and cryptocurrency. Their insights have helped CI GAM become a leader in cryptocurrency investment solutions in Canada, and are also one of the largest principal traders in the digital asset space with deep institutional experience managing third-party capital. Dedicated to the digital currency and blockchain sectors, the firm manages capital on behalf of external clients in business lines.^[8]^[9]

Investments

On January 23, 2018, Galaxy Digital and Block. one of the developers of EOS (cryptocurrency) announced the formation and capitalization of a joint venture that is focused on developing the EOS.IO ecosystem and making strategic investments in projects that utilize EOS.IO blockchain software. As part of the new relationship, Block. one and Galaxy Digital will deploy capital for future investments through the capitalization of a new $325 million EOS.IO Ecosystem Fund (the “Fund”).

On February 8, 2018, Galaxy Digital and Block.one announced they had invested $30 million into the decentralized online encyclopedia, Everipedia through their $325 million EOS.IO Ecosystem Fund.