Galaxy’s Staked Ether Assets Top $3.3B After New Acquisition
- Galaxy Digital has announced a new acquisition.
- The acquisition increased the company’s Ether assets under management by 43%.
- Terms of the deal were not disclosed.
Galaxy Digital Holdings Ltd. announced Friday a strategic acquisition deal that will bolster its Ethereum assets under stake (AUS) by 43%.
Founded by Michael Novogratz in 2018, Galaxy is a publicly traded company with several crypto and blockchain offerings, including strategic advisory and network validator services. The company serves institutions, startups, and qualified investors through its headquarters in New York City and global offices across North America, Europe, and Asia.
Galaxy Acquires CryptoManufaktur’s Assets
In a press release dated July 19, Galaxy Digital said it has acquired “substantially all of the assets” of blockchain node operator CryptoManufaktur LLC (CMF).
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The acquisition came with about $1 billion of Ethereum AUS, pushing Galaxy’s total to $3.3 billion as of July 18, 2024. The AUS represents the total notional value of Ether bonded to Galaxy’s validators, based on prices as of the end of Thursday.
Per the statement, Galaxy’s acquisition of CMF’s assets will boost its Oracle Data as a service offering to clients, expanding the company’s ability to provide technical and infrastructural support for key projects and deployments.
“Our acquisition of CMF is an important milestone that significantly enhances our position as a leading technical partner to protocols and builders,” Zane Glauber, Head of Galaxy’s Blockchain Infrastructure team, said.CMF’s three-person engineering team, led by founder Thorsten Behrens, will join Galaxy’s blockchain infrastructure division as part of the transaction. In addition to building core infrastructure for Chainlink’s price feeds, CMF’s engineering team is credited for the company’s secure Ethereum proof-of-stake (“PoS”) node deployment infrastructure.
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