Hyperliquid's HYPE token fell 8% to ~$58 as crypto funds, including Multicoin Capital ($116M), Selini Capital ($4.4M), and Galaxy Digital ($29.4M), queued nearly $150 million in HYPE for unstaking. This large withdrawal queue dwarfs the thin spot market, raising concerns about potential sales, though Multicoin denies selling intent.
Galaxy Digital pledged up to $5 million to help Bitcoin prepare for quantum computing threats by funding research, post-quantum signature integration, and migration tools. The decentralized network requires years of coordination for an upgrade.
Galaxy Digital committed up to $5 million in grants for open-source developers to build post-quantum cryptography for Bitcoin and formed a quantum advisory council. This initiative addresses concerns about Bitcoin's security against future quantum computers, with experts debating the timeline for a breakthrough.
Galaxy Digital has launched a Bitcoin Quantum Readiness Initiative, committing up to $5 million in developer grants, a research program, and an advisory council to protect the network from future quantum computing threats, aiming to bridge the gap between quantum advancements and Bitcoin development.
Galaxy Digital signs a 15-year naming rights deal with Texas Tech, renaming the football stadium to Galaxy Stadium, effective 2026. The partnership also establishes Galaxy as the official data center and digital assets partner, with collaborations planned in AI, workforce development, and student-athlete name, image, and likeness opportunities.
The valuation of crypto companies is shifting from traditional digital asset metrics to AI infrastructure, as firms like Galaxy Digital see their power, land, and data center assets become more valuable due to growing AI demand, creating a new 'crypto-AI hybrid' business model.
Investors are increasingly valuing crypto companies based on their AI infrastructure assets like data centers and power access, rather than solely traditional crypto metrics. This shift, exemplified by Galaxy Digital's stock rally, highlights the growing demand for AI computing capacity and the strategic advantage of firms owning relevant physical resources.
Morgan Stanley and Galaxy Digital have partnered to allow eligible wealth management clients to lend Bitcoin, Ethereum, or Solana in exchange for spot crypto exchange-traded product (ETP) shares, streamlining onboarding and reducing minimum transaction sizes.
Galaxy Digital reduces probability of Senate passing crypto bill (CLARITY Act) by 2026 to 60% from 75%, citing closing legislative window before August recess and unresolved provisions.
Galaxy Digital founder Mike Novogratz testified in Delaware court against BitGo CEO Mike Belshe over a failed $1.2 billion crypto merger. Galaxy seeks to avoid a $100 million fee, citing regulatory hurdles and BitGo's alleged failure to provide financial information.
Galaxy Digital's subsidiary, GalaxyOne Prime NY, has obtained a BitLicense and Money Transmission License from the NYDFS, enabling regulated digital asset services for institutional clients in New York.
Galaxy Digital’s Thaddeus Pinakiewicz noted that Aave is now only 10% short of recovering from the bad debt that hit its lending protocol after the Kelp DAO hack.
The CLARITY Act is moving toward its next procedural test after Senate negotiators released compromise language on stablecoin rewards last week, raising expectations that the Senate Banking Committee could take up the measure as soon as the week of May 11. Alex Thorn, head of research at Galaxy Digital, said the release of text from […] The post CLARITY Act markup could come next week after stablecoin deal breakthrough appeared first on CryptoSlate.
New stablecoin yield provisions have been published by Senators Thom Tillis and Angela Alsobrooks, potentially clearing a major roadblock for the CLARITY Act. The legislation prohibits paying interest on stablecoins but allows rewards for bona fide activities. Polymarket traders now see a 55% chance of the bill passing in 2026, up 9% in 24 hours. Senate Banking Committee could schedule markup as soon as the week of May 11.
Galaxy Digital head of research Alex Thorn expects the banking industry to “increase their opposition efforts” following the release of the final stablecoin yield provisions.
Galaxy Digital reported a Q1 net loss of $216 million ($0.49/share), improved from $295 million deficit a year ago, as tepid crypto markets continued to pressure the financial services firm. CEO Mike Novogratz noted the loss was partially offset by exposure to Hyperliquid's native token, which has rallied 56% YTD. Total assets declined 12% QoQ to $9.99 billion, with Bitcoin holdings at $431 million, Ethereum at $61 million, and Solana at $42 million.
Galaxy Digital reported a Q1 2026 loss of $216 million ($0.49 per share), beating analyst expectations of $0.59 loss, as weaker crypto prices reduced asset valuations. Revenue held steady at $10.2 billion. The company is pivoting to AI-linked data centers, with Helios campus in Texas expected to start generating revenue in Q2 2026.
