Helping whales unload 80,000 Bitcoins, serving institutions OTC, why is Galaxy Digital the institution that understands Crypto the most on Wall Street?

Why can Galaxy Digital be praised as "the institution that understands cryptocurrency the most on Wall Street"? This article will lead readers to uncover the success path of Galaxy Digital and its founder Mike Novogratz. (Background: Galaxy Digital transferred $100 million BTC to an exchange, was it a sell-off or a hedge? Is there still a chance for new highs?) (Background supplement: "The '80,000 Bitcoin whale' is nearing the end of unloading? 68,000 BTC has been cleared, and Galaxy Digital transferred another 3,715 coins) The digital asset management company Galaxy Digital, headquartered in New York, announced its Q2 financial report yesterday (5th), declaring a transition from last year's deep losses to profitability. However, it is worth noting that prior to the financial report's announcement, Galaxy Digital had frequently appeared in investors' sights for assisting a whale holding 80,000 Bitcoins (valued at nearly $9 billion) in unloading, and helping institutions like Ethereum reserve companies to invest in large amounts of ETH. Why can Galaxy Digital gain the trust of whales and institutions? Why can Galaxy Digital turn losses into profits? Why can Galaxy Digital be praised as "the institution that understands cryptocurrency the most on Wall Street"? This article will lead readers to uncover the success path of Galaxy Digital and its founder Mike Novogratz. Galaxy Digital: A hub bridging traditional finance and the on-chain world Galaxy Digital has demonstrated exceptional liquidity management capabilities in its over-the-counter (OTC) business. The company has handled large orders of Bitcoin and Ethereum for Goldman Sachs, State Street Bank, and other banks, and recently assisted the whale in steadily unloading 80,000 Bitcoins while providing Ethereum trading pipelines for SharpLink Gaming, ensuring minimal impact on market prices. Public data shows that Galaxy Digital's asset management department currently manages up to $4.7 billion in assets, with staked assets reaching $2.3 billion, spanning 15 public chains and covering 15 cryptocurrency ETFs. Galaxy Digital has also partnered with Fireblocks to expand its staking services, increasing its total managed and staked amount to $9 billion, with a quarterly growth of 27%. In addition, Galaxy Ventures Fund I completed a fundraising of $175 million in June, betting on stablecoins and payment startups; Helios Data Center is expanding towards a goal of 3.5 GW, reserving computing power for future AI and HPC demand. Extended reading: High demand for Euro stablecoins! Deutsche Bank, Flow Traders, and Galaxy Digital join forces to issue Novogratz: Exceptional courage and resilience Galaxy Digital's founder Mike Novogratz once managed billions of dollars at Goldman Sachs and Fortress. As early as 2013, when the price of Bitcoin was only $100, he boldly invested $7 million in Bitcoin. He has repeatedly emphasized that Bitcoin possesses the properties of "digital gold" and expects the price to reach $150,000 by 2025. "Bitcoin is digital gold; scarce supply and institutional adoption will drive BTC prices soaring." It is worth mentioning that an investment failure in LUNA led Novogratz to lose about $200 million, but he subsequently invested in Solana at an average price of $64 each, recovering his losses and demonstrating his high-risk, high-reward operational style and investment resilience. Extended reading: When will Bitcoin surpass gold? Galaxy Digital CEO: History will be witnessed within 5 to 8 years Q2 financial report: Financial data shows a turning point According to Galaxy Digital's financial report, its net income for the second quarter was $30.7 million, significantly improving from a loss of $125.6 million in the same period last year. Total assets rose to $9.09 billion, expanding 27% quarter-on-quarter, with cash and stablecoin positions reaching $1.2 billion. In terms of strategic holdings, Galaxy Digital's Bitcoin holdings increased by 4,272 coins to 17,102 coins, valued at approximately $1.8 billion; Ethereum holdings decreased from 155,000 coins to 90,500 coins; at the same time, Galaxy Digital also increased its Solana and SUI positions to diversify risk. Even though the overall trading volume decreased by 22%, Galaxy Digital's global market department gross profit still reached $55.4 million, a quarterly increase of 28%, with the digital asset department gross profit of $71 million, a quarterly increase of 10%. Listing on Nasdaq: Stock price trend reflects market trust Galaxy Digital initially went public on the Toronto Stock Exchange (TSX) in Canada on August 1, 2018, with the stock code GLXY. This year, Galaxy Digital was listed on the Nasdaq stock exchange in the United States in May through a direct listing, with the same stock code GLXY, opening at $23.50 per share. On July 24, Galaxy Digital's stock price rose to $31, but after the financial report was announced yesterday (5th), the stock price declined. However, its stock price has still risen by 48% this year to date, with a market capitalization of $10.18 billion. Image source: Google Finance Related reports: Bitcoin spot ETF approval date) Galaxy Digital predicts: SEC approval will be obtained by January 10, 2024, due to the Gray-scale lawsuit release High demand for Euro stablecoins! Deutsche Bank, Flow Traders, and Galaxy Digital join forces to issue Galaxy Digital terminates $1.2 billion BitGo acquisition deal! BitGo threatens to pursue a $100 million breakup fee "Helping whales unload 80,000 Bitcoins, serving institutions OTC, why is Galaxy Digital the institution that understands Crypto the most on Wall Street?" This article was first published on BlockTempo (the most influential blockchain news media).