Michael Novogratz’s Galaxy Digital, a well-known publicly listed cryptocurrency company, has announced acquisition of almost all of the assets of CryptoManufaktur LLC (CMF), a crypto tech-consultancy firm.
The deal has not been made public yet but with this acquisition, Galaxy will have almost $3.3 billion more in total assets under stake including its Ethereum staking holdings.
CryptoManufaktur, established in 2020, was initially focused on providing infrastructure for the blockchain oracle project Chainlink. Over time, CMF expanded its operations to include automated proof-of-stake node deployment on Ethereum, a critical component in the Ethereum network’s consensus mechanism.
Through the deal, Galaxy’s portfolio gains exposure to Ethereum assets valued at almost $1 billion. This action is anticipated to improve Galaxy’s blockchain infrastructure capabilities, an increasingly important area of the company’s emphasis.
Thorsten Behrens, the creator of CMF, and his engineering group will become a part of Galaxy’s blockchain infrastructure team by offering their staking and blockchain validation services experience.
Zane Glauber, head of Galaxy’s blockchain infrastructure team, emphasized that the acquisition represents a key milestone in strengthening Galaxy’s role as a leading technical partner within the digital-asset ecosystem. Glauber highlighted the importance of expanding Galaxy’s staking capabilities to support strategic corners of the digital-asset world.
Michael Novogratz, a prominent figure in the crypto industry, continues to drive Galaxy’s growth and expansion. With a background in Wall Street, including executive roles at Goldman Sachs and Fortress Investment Group,
The acquisition of CryptoManufaktur LLC marks a significant step for Galaxy Digital in enhancing its blockchain infrastructure and staking capabilities.
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