Galaxy

Really enjoyed my latest conversation with Alex Thorn on the Galaxy Brains podcast. Watch the full episode here: https://lnkd.in/e_GzZkiR

What are we covering in this edition of our weekly newsletter? 🏛 RNC Adds Crypto; Trump to Headline Bitcoin 2024 Former President Trump will headline Bitcoin 2024 in Nashville after the Republican Party adds crypto planks to platform. ⛰️ Gox Distributions & German Selling Pressures BTC  Bitcoin slumps below $60k as Mt. Gox distributions and German government selling weigh on price. 🥩 $STRK Staking Could Go Live on Starknet by End of 2024 On Wednesday, July 10, StarkWare CEO Eli Ben-Sasson announced that his team has put forth a proposal to activate staking on Starknet, a zero knowledge (ZK) rollup built on Ethereum, by the end of 2024. Check out this week's edition and don't forget to subscribe ⤵

This week on Galaxy Brains, Alex Thorn sits down with Lior Lamesh, CEO and Co-Founder of GK8 by Galaxy. Lior shares the journey of GK8, from breaking into popular cold wallets to building GK8's unique security offering and eventually being acquired by and integrating with Galaxy. Alex and Lior dive into the critical topics of multi-party computation (MPC), self-custody of digital assets, and the future of tokenization. Lior also talks about how GK8’s technology is revolutionizing the security landscape for digital assets by enabling institutions to securely manage private keys and execute transactions without direct internet exposure.  Listen to this week's episode on your favorite platform 🎧 YouTube: https://lnkd.in/ewKKpi5c Spotify: https://lnkd.in/eYmDz-Gy Apple Podcasts: https://lnkd.in/eQ5DncZD

In Q2 2024, venture capitalists poured $3.194 billion into crypto and blockchain companies across 577 deals. This represents a 28% increase in investment quarter-over-quarter, despite a slight 4% drop in the number of deals.    Top Investment Categories? ♦ Web3/NFT/DAO/Metaverse/Gaming: Led the pack with $758 million (24% of total VC funds). Notable deals include Farcaster ($150m) and Zentry ($140m). ♦ Infrastructure, Trading, and Layer 1: Secured 15%, 12%, and 12% of the capital respectively. Layer 1 saw a significant boost with major deals like Monad ($225m) and Berachain ($100m). Bitcoin L2s also saw impressive growth, raising $94.6m, up 174% QoQ.    Dive deeper into Crypto & Blockchain Venture Capital Q2 2024 in our latest report by Galaxy Research’s Alex Thorn and Gabe Parker: https://lnkd.in/e2Prj4bn 

As we await the potential launch of spot-based Ethereum ETPs, we can draw insights from the performance of spot-based Bitcoin ETPs to predict the impact these new vehicles may have on the market. We believe the launch of spot Ether ETFs will have a positive impact on Ethereum and the broader crypto market for two main reasons: ▶ Expanded Accessibility: Greater reach across wealth segments and wider distribution through more investment channels.  ▶ Greater Acceptance: Formal recognition by regulators and trusted financial services brands. An ETF enables both retail and institutional investors to consider Ether in a portfolio, supporting more diverse investment strategies. Additionally, as financial professionals gain a deeper understanding of Ethereum, we expect accelerated investments and adoption of the technology. Learn more about our insights and predictions by reading our report, Sizing the Market for the Ethereum ETF: https://lnkd.in/exrCeGcf

As we wrap up the first half of 2024, we reflect on the positive trajectory of digital assets despite a challenging June. While BTC fell -9.62%, ETH dropped -9.75%, and the BGCI Index declined -12.60%, BTC is still up 43.80% YTD, and spot ETH ETFs are on the horizon. June saw significant BTC ETP inflows and notable government-related BTC transfers. Ethereum anticipates new spot ETFs launching in mid-July, with predictions of substantial inflows. Beyond BTC and ETH, Robinhood acquired BitStamp, U.S.-listed BTC miners hit record market caps, and spot SOL ETF applications emerged. Digital assets continue to gain attention globally, shaping the future of finance. Check out this month’s edition of our Monthly Market Update for more, and don’t forget to subscribe ⤵

As we approach a major milestone in crypto investment, the anticipated launch of Ethereum ETFs marks a significant event for both seasoned investors and newcomers to the blockchain space. Galaxy Research's latest report indicates that the approval of Ethereum spot ETFs could trigger substantial market shifts. The introduction of Ethereum ETFs not only expands access to crypto assets for a broader range of investors but also highlights the maturing infrastructure of the crypto market. For a detailed analysis of our findings and to understand the potential impacts on the financial markets, read our full report here: https://lnkd.in/exrCeGcf

After a vibrant Q1, the momentum in crypto venture capital continues. Despite slight cooling in Bitcoin and liquid cryptos, the market remains strong year-over-year. Key Highlights: ▶ Capital Invested: Rose from $2.5 billion in Q1 to $3.2 billion in Q2.  ▶ Deal Size: Median deal size increased to $3.2 million.  ▶ Valuations: Median pre-money valuation nearly doubled to $37 million, signaling strong investor confidence and a competitive market environment. The market's resilience and escalating valuations reflect a robust investment climate, driven by a fear of missing out among investors. Dive deeper into our latest report, Crypto & Blockchain Venture Capital Q2 2024: https://lnkd.in/e2Prj4bn 

Join the Galaxy team!    We’re looking for talented individuals to fill several key roles:  ▶ Blockchain Engineering – Site Reliability Engineer  ▶ Engineering - Director, Network and Systems Engineering Manager  ▶ IT, Infrastructure, Security – Cloud Automation Team Lead    Discover these and more opportunities to make an impact at Galaxy. Explore and apply now: https://lnkd.in/e7REXjzd 

This week on Galaxy Brains, Alex Thorn is joined by Jason Urban, Global Head of Galaxy Trading. In a rare return appearance, Jason discusses Bitcoin’s remarkable recovery following the banking crises and its emerging status as a ‘flight to safety’ asset. Alex and Jason dive into the FTX saga's ongoing impact, highlighting the crypto space's broader evolution and maturation amid regulatory challenges. Jason shares insightful predictions on the future of crypto regulations and institutional interest, especially with the potential introduction of Ethereum ETFs. Alex also talks with Beimnet Abebe from Galaxy Trading to unpack a series of crucial economic indicators suggesting significant market landscape shifts. Listen to this week's episode on your favorite platform 🎧 YouTube: https://lnkd.in/eYe9DRmt Spotify: https://lnkd.in/ekASFx8E Apple Podcasts: https://lnkd.in/e8n87c_2