Originally, I wanted to finish a piece on Galaxy Digital in one go, but upon looking, besides the prospectus for its transition to NASDAQ, there’s also a new stock issuance prospectus dated 5/16. This is really overwhelming. Let’s break it into two parts; first, let’s discuss the bald boss and the past life of GLXY.
Bald boss Michael Novogratz, a Wall Street elite tycoon in the traditional sense, officially entered the currency circle in 2018, during which there were really turmoil. Judging from their compensation income, Mentougou and FTX currency circles really didn't pull down. He also boasted that he was the only person in the world with a BTC and Luna tattoo. Its Galaxy Interactive is deeply involved in web3 games, NFT, and the metaverse. But after reading their prospectus from the TSX to the Nasdaq, I re-refreshed my knowledge blind spot and must worship the financial veteran's forward-looking thinking and layout.
Galaxy Digital is a typical full-service institution, combining venture investment and asset management, with a linkage between primary and secondary markets. Its business lines also include OTC, trading, staking, mining, and AI/HPC (with a 15-year contract of 133MV with CoreWeave).
Currently, the subsidiaries I can see (which the SEC has not disclosed requirements for) are:
Galaxy Digital Capital Management LP
Galaxy DBL LLC
GDP and GSL
GalaxyOne Prime LLC
GalaxyOne Prime NY LLC
Galaxy Digital UK Limited
These subsidiaries hold various financial licenses across the U.S. and other regions, including advisor, broker-dealer, and money transmitter licenses. The vision of full compliance may have been established at the inception of DG, which at the time seemed to be a competitive disadvantage. However, looking at this moment, one cannot help but admire his foresight. (For those who frequently obtain licenses, you should be in awe at this moment; what determination and financial strength this requires.)
But with DG entering the game this time and becoming the behind-the-scenes driver of major cryptocurrencies, what kind of scene will it be? We await the 8/4 Earning call.
*Easter Egg 1: Let's take a look at what coins the big players have until 2024.
*Easter Egg 2: The embezzlement scandal involving former Galaxy Interactive GP Richard Kim.
Let's see if we can scrape together a lifetime before the earnings report.
#USStocks #CoinStocks #GLXY #Crypto
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