ChainThink reports that on August 5, Mike Novogratz, CEO of Galaxy Digital, stated during the Q2 earnings call that the ethical provisions compromise of the CLARITY Act, proposed by Senator Tillis and Senator Gallego, came too late to make significant progress before the recess, but there is still potential for advancement in September.
He also 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, so it won’t be “the end of the world.”
In terms of institutional partnerships, Galaxy signed a multi-year agreement last quarter with BNY Mellon as a design partner to assist in building its digital asset infrastructure and provide staking support for its digital asset custody platform.
Following its selection as an Ethereum staking validator for BlackRock’s Ethereum staking fund last quarter, 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, allowing customers to lend digital assets through Galaxy in exchange for an equivalent amount of spot crypto ETP shares.
On the product side, Galaxy launched its OTC prediction market, the on-chain financing rate product GOFR, and the institutional treasury management product Galaxy Curator, built on Morpho and integrated with Fireblocks, in Q2.
The company also announced that Steve Van Roza has joined the board.