According to ME News, on August 5 (UTC+8), Mike Novogratz, CEO of Galaxy Digital, commented on the CLARITY Act during the Q2 earnings call, stating that the ethical provisions compromise proposed by Republican Senator Tillis and Democratic Senator Gallego came “too late” and is unlikely to make progress before the recess, but could still advance in September. He noted that even if the bill ultimately fails to pass, both the SEC and CFTC chairs have committed to accelerating the development of more direct cryptocurrency regulations, making it far from “the end of the world.” On the institutional collaboration front, Galaxy signed a multi-year agreement with BNY Mellon last quarter as a design partner to fully support its digital asset infrastructure development, including providing staking support for its digital asset custody platform. Following its selection last quarter by BlackRock as a validator for its Ethereum staking fund, Morgan Stanley Wealth Management has recently chosen Galaxy to provide staking services for its new digital asset ETP. Both parties have also launched a new referral program, enabling clients to lend digital assets through Galaxy in exchange for equivalent spot crypto ETP shares. On the product side, Galaxy launched its OTC prediction market business and the on-chain financing interest rate product GOFR (which has already facilitated nearly $10 million in loan disbursements) in Q2, as well as Galaxy Curator—an institutional treasury management product built on Morpho and integrated with Fireblocks—that now serves over 100 institutional clients. The company also announced the addition of Steve Van Roza to its board, who brings over a decade of senior operational experience in IT infrastructure, large-scale mergers and acquisitions, and capital allocation. (Source: Foresight News)
Galaxy Digital Advances Institutional Partnerships and Comments on the CLARITY Act
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Summary
Galaxy Digital expands its institutional reach through a multi-year partnership with BNY Mellon and a staking collaboration with Morgan Stanley. The firm also launched OTC prediction markets, the GOFR lending product, and the Galaxy Curator tool. CEO Mike Novogratz noted that the CLARITY Act could advance in September. Digital asset news underscores Galaxy’s growing role in the sector, while digital collectibles remain a key focus for institutional players.
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