Bitcoin Selloff Alert: Galaxy Digital Quietly Trims BTC Stack As Market Volat...
Bitcoin’s price is under heightened bearish pressure as it falls back to the $90,000 level, raising the potential of the beginning of a bear market phase. With the price of BTC dropping fast, selling pressure is rising rapidly in the market, which is extending into the institutional landscape. Are Bitcoin Institutional Investors Exiting? In a […]
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The investment company Galaxy Digital Holdings has revealed it is joining the growing list of firms looking to sponsor a bitcoin exchange-traded fund (ETF). Novogratz’s crypto firm applied with the U.S. Securities Exchange Commission (SEC) on Monday to launch a product called the “Galaxy Bitcoin ETF.” Galaxy Digital Wants to Provide a Bitcoin ETF Galaxy Digital Holdings (TSX: GLXY) filed a Form S-1 registration with the SEC on Monday in order to get approval for a new bitcoin ETF. The “Galaxy Bitcoin ETF” filing was submitted on April 12, 2021, and joins the....
It’s been a busy few months for crypto financial services firm Galaxy Digital. From sales to satoshis, the company has been making headlines. Galaxy Digital is fresh off the heels of acquiring digital assets infrastructure firm BitGo, and is one of four firms to lead a recent Canadian petition for an Ethereum ETF. Now, Galaxy […]
Galaxy Digital has cut its 2025 year-end Bitcoin target to $120,000 from $185,000 in a new research alert circulated on November 5 and shared via screenshots on X by Alex Thorn, the firm’s head of firmwide research. In the note titled “Bitcoin Outlook Update: Lowering 2025 YE Target to $120,000,” Thorn situates the downgrade squarely in the context of a “major, multi-week selloff,” writing that “Bitcoin is trading below $100k for the first time since late June, with other cryptos faring worse.” Thorn stresses that the shift is cyclical rather than existential, stating plainly: “While....
Galaxy Digital, a cryptocurrency-focused financial services corporation, reported a net loss of $111.7 million for the quarter ending March 31, 2022. Galaxy Digital Takes Hit In the first quarter of 2022, Galaxy Digital, a cryptocurrency investment firm led by billionaire Michael Novogratz, recorded a loss of $111.7 million. The deficit is a considerable fall from […]
Galaxy Digital has announced that it’s backing out of its $1.2 billion proposed acquisition of the cryptocurrency custodian, BitGo. Galaxy Digital Backs Out Of BitGo Deal A $1.2 billion acquisition of Palo Alto, California-based BitGo by digital asset investment firm Galaxy Digital has been canceled, ending one of the biggest acquisitions in cryptocurrency history. In […]