GLXY

Galaxy Digital's Alex Thorn argues that the SEC's proposed elimination of Rule 611 (the "Order Protection Rule") would remove a significant regulatory barrier to tokenized U.S. stocks trading on decentralized platforms. The analysis suggests that scrapping the rule could accelerate adoption of blockchain-based equity trading infrastructure. No specific company action has been confirmed; this is an analyst commentary on a regulatory proposal.

Galaxy Digital has lowered its probability estimate for the CLARITY Act passing to 60%, citing a compressed Senate legislative calendar ahead of the November elections. The firm notes that the time required to amend and advance the key crypto market structure bill is diminishing. No specific company action is involved; this is an assessment of regulatory/legislative odds for the broader crypto sector.

Galaxy Digital has entered institutional prediction markets by executing a $10 million trade with Arca, marking the firm's first foray into this segment. The deal signals growing institutional interest in prediction market products. No financial terms beyond the trade size were disclosed.

SharpLink Gaming, Forward Industries, Bitmine, and Galaxy Digital are among crypto-related firms being considered for inclusion in Russell indexes, including the Russell 1000, which tracks the largest 1,000 U.S. companies. Index inclusion eligibility is based on market capitalization and other criteria evaluated during Russell's annual reconstitution. No official inclusion decisions have been confirmed at this time.

An analyst at Galaxy Digital identified a $1.3 billion dark pool sale of BlackRock's iShares Bitcoin ETF (IBIT), describing it as the largest such transaction he has observed on a private trading platform. The sale is being cited as a likely contributor to Bitcoin's recent price decline. The transaction was executed off-exchange, limiting visibility into the seller's identity or motive.

Galaxy Digital Inc. announced that President and CIO Chris Ferraro will participate in a fireside chat at Piper Sandler's Global Exchange and Fintech Conference on June 4, 2026, in New York City. The announcement covers upcoming investor and industry conference appearances by Galaxy representatives. No new financial disclosures or business developments were included in the announcement.

Galaxy Digital CEO Mike Novogratz testified in court that SEC regulatory pressure made it "very difficult" to complete the planned $1.2 billion acquisition of crypto custodian BitGo, which fell apart in 2021. The testimony relates to ongoing litigation stemming from the failed merger. No new financial disclosures or deal announcements were made.

Galaxy Digital has secured a New York BitLicense from the NYDFS, enabling its GalaxyOne Prime NY entity to offer trading and financing services to institutional investors in New York. The approval positions Galaxy to expand its institutional crypto business in one of the most stringently regulated U.S. crypto markets. No financial terms were disclosed.

Galaxy Digital, led by Mike Novogratz, has received a BitLicense from New York regulators, allowing the firm to operate as a licensed cryptocurrency business in the state. The approval positions Galaxy to expand its institutional crypto services within New York's regulatory framework. BitLicenses are issued by the New York Department of Financial Services (NYDFS) and are required for virtual currency business activity in the state.

SharpLink Gaming has announced a $125 million onchain yield strategy, with Galaxy Digital selected to manage the initiative. The move represents a significant treasury or capital allocation shift for SharpLink into crypto-native yield products. Galaxy Digital will serve as the asset manager for the onchain strategy.

SharpLink Gaming and Galaxy Digital are launching a $125 million institutional DeFi yield fund, with SharpLink contributing $100 million in staked Ether to be managed by Galaxy. The fund targets institutions seeking to generate yield on ETH holdings without liquidating positions. The structure is backed by an ETH treasury, reflecting growing institutional interest in on-chain yield strategies.

Galaxy Digital has identified 7 Democratic lawmakers as key to advancing the CLARITY Act, a crypto market structure bill that stalled in January 2026 after Coinbase withdrew its support over concerns about legal protections and stablecoin yields. The legislation, introduced in July 2025, requires bipartisan backing to move forward. Coinbase's withdrawal remains a significant obstacle to the bill's progress.

Aave's lending protocol liquidated rsETH positions held by the Kelp DAO hacker on both Ethereum and Arbitrum networks. Galaxy Digital's Thaddeus Pinakiewicz noted that Aave is now approximately 10% away from fully recovering the bad debt incurred from the Kelp DAO hack. The liquidations represent meaningful progress toward resolving the protocol's outstanding bad debt position.

Bitcoin extended its rally to $81,500, continuing a broader upward move in crypto markets. The gains coincided with renewed momentum in the tokenization sector, lifting companies including Bullish, Galaxy Digital, and Centrifuge. No specific catalyst for the Bitcoin price move was cited beyond the tokenization narrative.

State Street and Galaxy Digital have jointly launched a tokenized fund aimed at bringing cash management products onto blockchain infrastructure. The product represents an expansion of both firms into the real-world asset (RWA) tokenization space, targeting institutional cash management use cases. No financial terms of the partnership were disclosed in the announcement.

The CLARITY Act's final stablecoin yield provisions have been released, with Galaxy Digital's head of research Alex Thorn anticipating heightened opposition from the banking industry. The finalization of these rules marks a significant legislative milestone for stablecoin regulation in the U.S. No specific company actions or earnings events are cited; the article is primarily focused on regulatory and policy developments in the crypto sector.

Galaxy Digital has led a $20 million investment round in Fence, a fintech startup targeting the back-end infrastructure of the $6 trillion credit market. The funding aims to modernize settlement and operational processes in credit trading. Galaxy Digital is the primary institutional backer disclosed in this round.