Finance

Galaxy Enhances Staking Portfolio with CryptoManufaktur Ethereum Assets Acquisition

Jul 20, 2024 1 min read

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Galaxy Digital Holdings Ltd. has acquired nearly all assets of CryptoManufaktur LLC (CMF), a blockchain node operator. This acquisition significantly increases Galaxy's Ethereum assets under stake by about $1 billion, bringing the firm's total to approximately $3.3 billion. The transaction aims to bolster Galaxy's staking portfolio and enhance its position as a technical partner to protocols and builders within the digital asset ecosystem.

As part of the deal, CMF's engineering team, led by founder Thorsten Behrens, will join Galaxy's Blockchain Infrastructure team. This team provides staking and validator services to qualified investors, protocols, and digital asset platforms. The financial terms of the transaction were not disclosed. The acquisition is expected to further strengthen Galaxy's diversified business model, which includes crypto trading and investment management.

#tech #altcoins #cryptocurrency #blockchain #ethereum #bitcoin #markets

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