Helped a Whale dump 80,000 Bitcoins for institutional OTC, why is Galaxy Digital the most crypto-savvy institution on Wall Street?

Why is Galaxy Digital hailed as "the institution on Wall Street that understands cryptocurrency the most"? This article will take readers to explore the success path of Galaxy Digital and its founder Mike Novogratz. (Background: Galaxy Digital moved $100 million in BTC to the exchange, is it a sell-off or a hedge? Is there still a chance for new highs?) (Background information: Is the "80,000 Bitcoin whale" dump nearing its end? 68,000 BTC have 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 (5), declaring a return to profitability from last year's deep losses. However, it is worth noting that before the financial report was published, Galaxy Digital frequently appeared in investors' sights for assisting the ancient whale holding 80,000 Bitcoins (worth nearly $9 billion) in offloading, and helping institutions like Ethereum reserve companies in buying large amounts of ETH. Why can Galaxy Digital gain the trust of whales and institutions? Why can Galaxy Digital return to profitability? Why is Galaxy Digital hailed as "the institution on Wall Street that understands cryptocurrency the most"? This article will take readers to explore the success path of Galaxy Digital and its founder Mike Novogratz. Galaxy Digital: A hub bridging TradFi and the on-chain world Galaxy Digital has demonstrated extremely high liquidity management capabilities in its OTC trading business. The company has handled large orders of Bitcoin and Ether for Goldman Sachs, State Street, and other banks, and recently assisted the ancient whale in steadily offloading 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 has a scale of up to $4.7 billion, with staked assets reaching $2.3 billion, spanning 15 public chains and covering 15 crypto assets ETFs. Galaxy Digital also partnered with Fireblocks to expand its staking services, increasing its total management and staking amount to $9 billion, growing 27% in a single quarter. In addition, Galaxy Ventures Fund I completed a $175 million fundraising round in June, betting on stablecoins and payment startups; the Helios data center is expanding towards a target of 3.5 GW, reserving computing power for future AI and HPC demand. Further reading: Strong demand for Euro stablecoins! Deutsche Bank, Flow Traders, and Galaxy Digital, three major giants jointly issue. Novogratz: Exceptional courage and resilience Galaxy Digital 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 repeatedly emphasized that Bitcoin possesses the attributes of "digital gold" and anticipates that the price may reach $150,000 by 2025. "Bitcoin is digital gold; its scarce supply and institutional adoption will drive BTC prices soaring." It is worth mentioning that Novogratz suffered a loss of about $200 million from his investment in LUNA, but he subsequently invested in Solana at an average price of $64 per coin, recovering his losses, demonstrating his high-risk, high-reward trading style and investment resilience. Further reading: When will Bitcoin surpass gold? Galaxy Digital CEO: We will witness history within 5 to 8 years. Q2 financial report: Financial data shows a turning point According to Galaxy Digital's financial report, its net income in the second quarter was $30.7 million, a significant improvement from a loss of $125.6 million in the same period last year. Total assets rose to $9.09 billion, expanding 27% in a single quarter, with cash and stablecoin holdings reaching $1.2 billion. In terms of strategic holdings, Galaxy Digital's Bitcoin holdings increased by 4,272 to 17,102 coins, valued at about $1.8 billion; Ethereum holdings decreased from 155,000 to 90,500 coins; at the same time, Galaxy Digital also increased its Solana and SUI positions to diversify risks. Even though overall trading volume shrank by 22%, Galaxy Digital's global market department still achieved a gross profit of $55.4 million, a quarter-on-quarter increase of 28%, while the digital asset department's gross profit was $71 million, a quarter-on-quarter 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 exchange in the United States through a direct listing in May, with the stock code also being GLXY, opening at $23.50 per share. On July 24, Galaxy Digital's stock price rose to $31 at one point; however, after the financial report was published yesterday (5), the stock price declined somewhat, but it has still risen 48% year-to-date, with a market capitalization reaching $10.18 billion. Source: Google Finance Related reports Bitcoin spot ETF approval date》Galaxy Digital predicts: SEC approval will be obtained before January 10, 2024, due to Grayscale lawsuit release. Strong demand for Euro stablecoins! Deutsche Bank, Flow Traders, and Galaxy Digital, three major giants jointly issue. Galaxy Digital terminates $1.2 billion BitGo acquisition deal! BitGo threatens to pursue $100 million breakup fee. <Why is Galaxy Digital, which helps whales offload 80,000 Bitcoins and serves institutions OTC, hailed as Wall Street's best understanding of Crypto institution?> This article was first published in BlockTempo, the most influential blockchain news media.