Difference between revisions of "Galaxy Digital"

Latest revision as of 01:54, 3 June 2024

Basics

Venture capital firm by Mike Novogratz
Customer of Fireblocks

Investments

Got hit by the FTX crash. From Bitcoin.com (10-11-2022): “As of the date of this filing, the partnership has an exposure of approximately $76.8 million of cash and digital assets to FTX, of which $47.5 million is currently in the withdrawal process.”
Galaxy Digital reported a 2021 Q2 loss of $176M on due to a drop in Crypto Prices
1inch. Participated in a $2.8M raise for 1inch (11-8-2020).
Anchor; Do Kwon mentioned them as part of a $20M raise, calling the participants the 'Anchor whales' (16-3-2021)
Avalanche. Participated (25-6-2020) in a $12M private sale of Avalanche.
Axelar; was part of one of their 3 financing rounds (1-9-2022).
Babylon; part of their $70M pre-launch round (30-5-2024).
Braintrust; according to this thread (8-2021).
Bullish Global; participated in a funding round (12-5-2021).
Celestia; participated in their $55M raise (20-10-2022).
DODO. Participated in a $5M raise for DODO (15-10-2020).
Evmos; took part in their $27M token sale (2-11-2022)
Figment; took part in their $50M Series B (16-8-2021).
Fireblocks, Was part of a Series C funding raise of $133M (18-3-2021).
Immutable; 8-6-2023
Index Coop; closed a $7.7M funding round for them (7-7-2021).
Hashflow; was part of their Series A round (7-2022).
NuCypher. Backer of NuCypher (9-10-2020).
OP Crypto Capital Management; (Huobi's Metaverse fund), joined in the launch of it's $25M fund (6-9-2021).
Opium Protocol. Part of a $3.25M raise (2-11-2020).
ParaFi. Is a backer of ParaFi (20-8-2020).
Polygon: participated in a $450M private sale (7-2-2022).
Radicle; one of the backers named as an early supporter (17-2-2021).
Ramp; led its $10.1M seed round (6-2021).
Skale. Is on the list of supporters of Skale (31-7-2020).
Terra; is mentioned as an investor in one of their blogs (5-1-2021). Was part of the $150M ecosystem fund for Terra as well (16-7-2021). When UST depegged and the Terra ecosystem crashed down, founder Novogratz reflected on it writing: "My tattoo will be a constant reminder that venture investing requires humility."

Galaxy Digital Ventures

Has invested in Bitgo. Update (5-5-2021): bought BitGo for over $1B.

Michael Novogratz, bought $7.5M shares of his company for $4.8M; Novogratz now owns 79.3% of company shares. Galaxy saw a net loss of $76.65M in Q3 2018 which Novogratz described as the reality of building "a business in a bear market"

Galaxy Digital Partners

Invested in 0x, Messari, Civic, Ethereum, Monero, Stellar, Filecoin and Power Ledger

Current employees

Chris Ferraro; partner at Galaxy Digital and board of directors at BlockFi
Laid off (1-2020) 13 people, roughly 15 percent of its workforce.

Partners

Is a sponsor of Coin Center (as of 6-2019)
Galaxy Digital and Bakkt will team up (10-6-2020) to offer buying and custodial services.

@@ Line 5: / Line 5: @@
 == Investments ==
-* Galaxy Digital [https://www.coindesk.com/galaxy-digital-q2-loss-report-core-operating-activities reported] a 2021 Q2 loss of $176M on due to a drop in Crypto Prices
+* Got hit by the [[FTX (FTT)|FTX]] crash. [https://news.bitcoin.com/galaxy-digital-reveals-update-on-ties-to-ftx-partnership-has-exposure-of-approximately-76-8-million/ From] [[Bitcoin.com]] (10-11-2022): ''“As of the date of this filing, the partnership has an exposure of approximately $76.8 million of cash and digital assets to FTX, of which $47.5 million is currently in the withdrawal process.”''
+*Galaxy Digital [https://www.coindesk.com/galaxy-digital-q2-loss-report-core-operating-activities reported] a 2021 Q2 loss of $176M on due to a drop in Crypto Prices
 *1inch. [https://www.coindesk.com/dex-1inch-2-8m-from-binance-galaxy Participated] in a $2.8M raise for [[1inch]] (11-8-2020).
 *[[Anchor (ANC)|Anchor]]; [[Do Kwon]] mentioned them as part of a [https://twitter.com/d0h0k1/status/1371738421559914496 $20M raise], calling the participants the '[[Anchor]] [[Whale|whales]]' (16-3-2021)
 *Avalanche. [https://medium.com/avalabs/avalanche-raises-12m-in-private-token-sale-led-by-initialized-galaxy-bitmain-ngc-and-dragonfly-96e5ae2cf6e Participated] (25-6-2020) in a $12M private sale of [[Avalanche (AVAX)|Avalanche]].
 *[[Axelar Network (AXL)|Axelar]]; was part of one of their 3 financing rounds ([https://blog.coinlist.co/the-state-of-axelar-the-stripe-of-web3/ 1-9-2022]).
+*[[Babylon]]; part of their [https://x.com/babylon_chain/status/1796171723471258091 $70M pre-launch] round (30-5-2024).
+*[[Braintrust (BTRST)|Braintrust]]; according to this [https://twitter.com/liron/status/1561166817669722112 thread] (8-2021).
 *[[Bullish Global]]; [https://decrypt.co/70604/eos-block-one-invests-10-billion-exchange?utm_source=telegram&utm_medium=social&utm_campaign=smt participated] in a funding round (12-5-2021).
 *[[Celestia]]; participated in their [https://blog.celestia.org/celestia-raises-55m-to-launch-modular-blockchain-network/ $55M raise] (20-10-2022).
@@ Line 16: / Line 19: @@
 *[[Figment Networks|Figment]]; took part in their [https://figment.io/resources/figment-announces-50-million-in-series-b-funding/ $50M Series B] (16-8-2021).
 *[[Fireblocks]], Was part of a [https://decrypt.co/61864/fireblocks-a-hot-investment-with-133-million-series-c Series C] funding raise of $133M (18-3-2021).
+*[[Immutable X (IMX)|Immutable]]; [https://decentralparkcapital.substack.com/p/in-the-weeds-14 8-6-2023]
 *[[Index Coop (INDEX)|Index Coop]]; closed a [https://www.coindesk.com/dao-behind-defi-pulse-index-raises-7-7m-from-galaxy-digital-1kx $7.7M funding round] for them (7-7-2021).
+*[[Hashflow (HFT)|Hashflow]]; was [https://messari.io/report/hashflow-certainty-in-execution part of] their Series A round (7-2022).
 *[[Nucypher|NuCypher]]. [https://coinlist.co/nucypher-worklock Backer] of [[NuCypher]] (9-10-2020).
 * OP Crypto Capital Management; ([[Huobi (HT)|Huobi's]] Metaverse fund), [https://www.theblockcrypto.com/linked/116732/houbi-ventures-chainsmokers-back-new-25-million-fund-investing-in-the-metaverse joined] in the launch of it's $25M fund (6-9-2021).