Clients can pledge the savings token, though the companies disclosed no sUSDS-backed client loan volume.
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Willy Woo sees a possible 6-to-8-year macro rhythm, while recent research says the old pattern still survives.
The post Bitcoin may be leaving its 4-year cycle behind for a 6-to-8-year Wall Street rhythm appeared first on CryptoSlate.
Bank Leumi customers will be able to trade bitcoin, ether and solana through the bank’s investment app from early 2027.
The non-cash charge did not trigger a disclosed margin call, but the loan's live collateral thresholds remain private.
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Cash fell to $4.5 million while Galaxy loans reached $120 million and 52.7% of reported SOL equivalents were pledged.
The post Multicoin exits the $1.65 billion Solana treasury company it helped launch eight months ago appeared first on CryptoSlate.
EIP-8363 would drive net consensus yield to zero at 60.25 million ETH staked, shifting the burden toward variable fees, MEV and DeFi returns.
The post A proposed Ethereum upgrade threatens to kill native yield and force SharpLink’s $125M treasury into high-risk DeFi appeared first on CryptoSlate.
Helios produced data-center revenue for the first time with Phase I expected to generate about $80 million quarterly from Q3.
The custody bank has selected Galaxy to provide staking infrastructure as it broadens services for institutional crypto investors.
Bitcoin is safe today, but signatures, software, custodians and users would need years to coordinate a defense.
The post Galaxy puts $5 million behind Bitcoin’s race to migrate before quantum risk arrives appeared first on CryptoSlate.
The crypto financial services firm launched Galaxy Curator, a Morpho-based platform that gives Fireblocks' 2,400 institutional clients access to onchain yield strategies.
A July 4 target date for advancing crypto market-structure legislation through the Senate is now looking less certain, according to Galaxy Digital’s head of research. Senate Calendar Creates A Bottleneck Alex Thorn revised his probability estimate for the CLARITY Act passing in 2026 from 75% down to 60%, citing a Senate schedule that has grown increasingly crowded with competing priorities. Related Reading: XRP Monthly RSI Drops To All-Time Low As Market Watches For Confirmation Next week’s agenda is expected to be taken up largely by FISA-related business following a failed reauthorization vote, leaving little room for crypto legislation to advance. Thorn said the obstacle is no longer political will — support for the bill has not collapsed. The problem is time. i just sent this note to clients lowering my odds of 2026 clarity act passage from 75% immediately post-markup to 60% today i said in may that the senate calendar was one of the biggest hurdles, and that picture has worsened. last night the FISA reauth vote failed, so now next… pic.twitter.com/2EcxMb3Hwh — Alex Thorn (@intangiblecoins) June 5, 2026 Unresolved Issues Add To The Delay Two sticking points remain on the table: lawmaker ethics rules and illicit finance provisions tied to the bill. Neither has been resolved, and the lack of movement on both fronts has further complicated the path forward. Despite the lowered odds, Thorn said he remains optimistic about the bill’s eventual chances — though he cautioned that the timeline is now more fluid than many had assumed. The CLARITY Act is widely considered the most consequential crypto legislation currently before Congress. Its central aim is to settle a long-running dispute between the Securities and Exchange Commission and the Commodity Futures Trading Commission over who regulates what in the digital asset space. Under the proposal, tokens classified as commodities would fall under CFTC oversight, while those deemed securities would stay with the SEC — a distinction that would reshape how exchanges operate and what compliance requirements apply to crypto projects. Supporters say federal clarity on those boundaries would cut regulatory uncertainty and keep crypto development from migrating abroad. A Window That May Be Closing Senator Cynthia Lummis had previously pointed to July 4 as a marker for getting market-structure legislation moving in the Senate. Related Reading: Bitmine Seeks $300M Raise To Accelerate Ethereum Accumulation Strategy Thorn’s revised figure puts pressure on that informal target. His assessment reflects scheduling constraints, not a shift in how lawmakers view the bill itself. For crypto stakeholders awaiting regulatory certainty, the revised outlook points to a potentially longer path toward comprehensive legislation. Featured image from Unsplash, chart from TradingView
Bitcoin carried nearly all of May’s inflows. Monthly flows into crypto treasury companies dropped to $180 million for the month, the weakest level since October 2024, and Bitcoin-linked firms accounted for almost all of it with $177 million. Smaller additions went to ZCash, Story and Sui, while Litecoin posted a $1.89 million outflow. The fall was steep. May’s total was down 95% from April’s $4.4 billion and about 93% below the monthly average from January through May, after March and April each cleared $4 billion. Related Reading: Bitcoin Faces Prolonged Downtrend Through 2027, Analyst Warns From Election Surge To Slower 2025 The latest drop comes after a sharp burst of buying late last year, when DAT inflows climbed past $12 billion after the 2024 US election results and a friendlier policy backdrop. DefiLlama’s figures show the trend then cooled through 2025, staying below $10 billion a month until late summer before slipping again. That left treasury firms with a tougher pitch. The market crash that followed added pressure, and companies that rely on token accumulation alone now face more scrutiny from investors than they did during the boom. Yield Pressure Is Reshaping Treasury Firms Galaxy Digital has argued that the old buy-and-hold approach no longer carries the same weight, and that treasury firms need to put assets to work through staking, validator services, DeFi lending or other active uses. Patrick Ngan of Zeta Network Group said companies holding Bitcoin need to show they can do more than park the asset on a balance sheet, while businesses with real cash flow may be better placed than pure holders. Arthur Firstov of Mercuryo said ETFs give institutions a low-cost, liquid way to get straightforward crypto exposure, which makes it harder for listed treasury firms to keep trading at a premium. He added that staking can help proof-of-stake treasuries produce revenue, but it cannot fix weak operations, heavy dilution or balance-sheet losses. Related Reading: Bitcoin Could Enter Freefall If This Level Cracks: Analyst The shift is already visible in hybrid models. Grant Cardone has linked Bitcoin with multifamily housing in a treasury-style structure that also draws on rental income and property gains to support more BTC buying. For now, the numbers show a sector that has lost speed fast. Bitcoin still dominates the field, but the latest data leaves little doubt that the easy money phase has faded. Featured image from Unsplash, chart from TradingView
The digital asset firm launched OTC prediction markets trading for institutions and completed a $10 million trade tied to U.S. crypto legislation with hedge fund Arca.
Galaxy's new OTC prediction markets desk could reshape institutional risk management by integrating event-driven strategies with broader asset hedging.
The post Galaxy launches OTC prediction markets desk for institutional investors appeared first on Crypto Briefing.
A New York lawsuit is seeking to treat some of Bitcoin’s oldest dormant wallets, including addresses tied to the cryptocurrency’s creator, as lost property valued at less than $10 each. The amended complaint asks a state court to grant legal ownership of 39,069 Bitcoin addresses to a pseudonymous plaintiff identified as Noah Doe and two […]
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Galaxy Digital became the second company this year to secure a New York BitLicense, following Strike’s approval in March.
The CLARITY Act could be signed into law in the week of Aug. 3 if Congress keeps pace after a bipartisan Senate Banking Committee vote moved the crypto market structure bill into its next phase, Galaxy Digital’s research arm said. Galaxy Research raised its estimate of the bill’s chances of becoming law in 2026 to […]
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The Galaxy Sharplink Onchain Yield Fund would receive $100 million from Sharplink’s staked ETH treasury and $25 million from Galaxy.
The fund lets institutions earn yield on stablecoins while moving cash onchain with round-the-clock access.
Startup Fence uses blockchain technology and tokenization in the background to automate processes that many asset managers still rely on manual workflows.
Galaxy Digital reported a tough start to the year as crypto prices fell and market values broadly contracted. In its first-quarter (Q1) results, the company reported a net loss of $216 million while the total crypto market capitalization slid by roughly 20% during the same period. Despite that difficult environment, Galaxy CEO Mike Novogratz said in an interview with Bloomberg that Hyperliquid (HYPE) helped the company avoid even worse outcomes. Galaxy Digital Q1 Snapshot In Galaxy’s Q1 2026 reporting, the company attributed the net loss primarily to the depreciation of digital asset prices over the quarter. The firm also posted an adjusted gross loss of $88 million, along with an adjusted EBITDA loss of $188 million. On a per-share basis, Galaxy reported diluted and adjusted EPS of $0.49. Even with the losses, Galaxy Digital ended the quarter with a solid balance sheet, including total equity of $2.8 billion and cash plus stablecoin holdings totaling $2.6 billion as of March 31, 2026. The company said it ended Q1 with approximately $5 billion in assets under management and $3.2 billion in assets under stake. Related Reading: XRP $10 By 2027? Top Expert Flags Two Must-Happen Catalysts For A Bull Run At the same time, the firm reported that its asset management segment generated $69 million in net inflows across the quarter, suggesting demand still existed even as pricing pressure weighed on performance. Novogratz’s comments focused on how Galaxy Digital managed risk and exposure while markets moved against crypto. He said the balance sheet “lost money because crypto prices were down,” but argued Galaxy “way outperformed” what would have happened if it had not taken steps to adjust its positions. Hyperliquid As The ‘Future Of Crypto’? According to Novogratz, the company cut some positions and shifted a significant portion of its level two exposure into Hyperliquid. He described Hyperliquid as one of the tokens he has discussed previously and indicated that the platform’s structure stands out in the sector. In explaining the reasoning behind Galaxy’s support, Novogratz said he backed Hyperliquid “mostly because it’s got an economic model,” contrasting it with other tokens he described as being more “association tokens.” The executive added that Hyperliquid provides a way to look at what the future of crypto could look like, framing it as a more substantive approach compared with projects that function differently. Galaxy Digital’s relationship with Hyperliquid goes beyond investment interest. The company has significant exposure to Hyperliquid’s native token, HYPE, and it also acts as a validator on the network. Bitcoin Over $100,000 Again? Novogratz also addressed Bitcoin’s (BTC) current price action. He noted that if Bitcoin manages to climb back above $100,000, it may still be difficult for the asset to sustain that level depending on broader economic conditions. Related Reading: Solana Prepares For The Quantum Era: Foundation Details Step-By-Step Transition He pointed out that to reach that price “you’re going to need a few things to happen,” and emphasized that easing from central banks would be central to the equation. However, he cautioned that macroeconomic pressures are unlikely to ease quickly, citing inflation concerns tied to current events. Galaxy Digital CEO referenced the war in Iran and said “we’ve got some pretty ugly inflation prints that are going to come through the pipeline,” adding that, in his view, “I don’t think the Fed does anything but sits and watches.” Despite the quarterly loss, Galaxy Digital’s stock (trading under the ticker symbol GLXY) surged around 4% during Tuesday’s trading session, reaching $26 per share. Meanwhile, Hyperliquid’s native token saw a 5% loss and retraced to $39. Featured image from OpenArt, chart from TradingView.com
Galaxy secured approval to double its Helios data center power capacity to over 1.6GW, building on its strategic expansion into AI infrastructure.
The company's Nasdaq debut was a turning point toward infrastructure-led growth in the digital economy, said Novogratz.
Mike Novogratz’s crypto financial services firm said unauthorized access was limited to a segregated R&D workspace; trading systems and client accounts were unaffected.
Developers are already working to address quantum risks, and investors shouldn’t mistake a long-term challenge for an immediate threat, according to Galaxy Digital’s head of research Alex Thorn.
Wall Street’s attitude toward Bitcoin has flipped from euphoric to deeply skeptical after last year’s crowded long trade unraveled, according to Galaxy Digital head of research Alex Thorn. In an interview on What Bitcoin Did, Thorn said the shift has less to do with conspiracy theories or a single bearish catalyst than with exhausted demand, heavy long-term holder selling, and a market now struggling to find a fresh narrative. Thorn pushed back on claims that firms such as Jane Street are to blame for Bitcoin’s weakness, calling that line of thinking “Twitter cope.” He argued that most of the outrage reflects frustration with price action rather than evidence of deliberate suppression. “What do we think the actual incentive would be for them to suppress the price?” Thorn said. “Bitcoin’s a multi-trillion, well whatever it is, one-point-something-trillion-dollar asset. It’s hard to manipulate markets of scale in a specific direction because it is a free market and it’s a large one.” – bitcoin didn’t crash because of jane street – whale distribution was significant, inevitable, necessary, healthy – wall st negativity on BTC is real but wrong – bitcoin’s fundamental value is real and right – you need to be robotmaxxing or you’ll be forever framemogged https://t.co/GUMAARf7Pl pic.twitter.com/QQhDy3RNrg — Alex Thorn (@intangiblecoins) February 28, 2026 Why Wall Street Is Wrong On Bitcoin His broader explanation was more straightforward. From late 2024 through the period between the US election and inauguration, he said, being long Bitcoin was “the most popular trade in the world.” That changed as capital rotated elsewhere. AI-linked equities, semiconductor names, energy plays, quantum stocks and gold all began attracting attention, while Bitcoin’s momentum faded. Related Reading: Bitcoin Whale Inflows On Binance Reach Highest Level Since 2022 At the same time, Thorn said, long-term holders were consistently distributing coins into strength. He described that selling as structural rather than alarming. “That’s literally how distribution occurs and it’s how you make money in a trade,” he said, arguing that older holders taking gains is part of Bitcoin’s maturation rather than a sign of failure. He went further, framing the whale distribution as constructive for the network over the long run. “Technically you want more selling. You want it distributed to people who buy it at a higher cost basis,” Thorn said. “The realized price is higher and that’s a good thing. That means people, with enormous amounts of money, are willing to buy Bitcoin at really high prices. To me that’s a core signal of adoption.” Still, Thorn acknowledged that sentiment has deteriorated sharply, especially among professional investors. In his view, Bitcoin’s failure since September to behave like “digital gold” damaged the story many allocators had bought into. Wall Street, he said, took that label too literally. Related Reading: Fidelity Thinks Bitcoin May Be Leaving Its 80% Crashes Behind “We didn’t mean it was going to trade with a high beta to GLD,” Thorn said. “Its features are gold-like. Its trading behavior hasn’t fully caught up to that yet. The delta between those two things, if you believe it eventually closes, that’s your alpha.” That mismatch has helped sour institutional mood just as broader macro fears have worsened. Thorn said investors are anxious about AI from both directions: that it may fail to justify massive capex, or succeed so thoroughly that it destroys jobs and destabilizes markets. If equities roll over on the back of that uncertainty, he suggested, Bitcoin may struggle to stay insulated. Even so, Thorn drew a line between short-term sentiment and long-term conviction. “We really should focus on explaining its fundamental purpose and use cases and value to a holder of Bitcoin as the reason that it goes up,” he said. “Stop begging for Jay Powell to buy your bags. That’s not nearly as durable as the reason it going up being that people deeply understand the savings technology that is Bitcoin.” For Thorn, that is the real story now: Wall Street may have turned negative, but the longer-term battle is still about whether more investors come to see Bitcoin as a durable store-of-value asset rather than a passing macro trade. At press time, BTC traded at $66,109. Featured image created with DALL.E, chart from TradingView.com
Bitcoin’s long-term price outlook is a major talking point, with veteran trader Peter Brandt recently floating a bold timeline for when the leading cryptocurrency could hit $250,000. The comment came in response to a chart shared on X by NBA legend Scottie Pippen, who showed how Bitcoin’s current structure looks familiar. Brandt not only agreed with Pippen, he also attached a projection that points to a specific year for a when the Bitcoin price will eventually trade above $250,000. Power Law Projection Points To 2029 Breakout According to veteran financial analyst Peter Brandt, Bitcoin is on track to setting off to $250,000-plus by late 2029. He only noted this with a simple sentence, but the projection to $250,000 is visible in the weekly candlestick price chart he shared alongside his prediction. Related Reading: Don’t Fall For The Bitcoin Trap: Analyst Explains Why Recovery To $76,000 Is Not A Good Thing The chart shared by Brandt shows Bitcoin trading within a broad upward-sloping channel that has defined its macrostructure for over a decade. The lower boundary, highlighted in green, appears to act as a recurring support zone during major consolidations. The upper red band connects the different peaks over the years. The current structure is playing out in a way where Bitcoin has been trending downwards after a strong multi-year advance that peaked in late 2025. Brandt’s projection extends the channel forward into 2029, where the middle band of the channel intersects near the $250,000 price level. $250,000 is a recurring Bitcoin price target among crypto participants, although the predictions have different timelines as to when Bitcoin will reach this price level. For instance, Fundstrat’s Tom Lee is also of the notion that Bitcoin will trade at $250,000 soon, although this came with a warning. Analysts at Galaxy Digital have also floated the same target, although on a faster timeline around 2027. That projection, however, came with expectations of an unstable 2026 before any strong rally. Scottie Pippen’s 2020 Comparison Brandt’s forecast was triggered by Scottie Pippen’s post comparing Bitcoin’s current setup to its 2020 structure. In Pippen’s side-by-side chart comparison, the left panel shows Bitcoin’s CME Futures in mid-2020 forming a base before launching into the rally that culminated in the 2021 highs. Related Reading: Bitcoin Ready To Bounce Again? The Major Accumulation Trend You Should Be Aware Of The right panel, which shows current price action in 2026, depicts a similar consolidation pattern above a green support zone. The visual comparison suggests that Bitcoin is now in a comparable pre-breakout phase like it was in 2020. In 2020, Bitcoin consolidated for months before breaking into a parabolic move. As such, although the long-term view is bullish, there’s a high probability that Bitcoin will continue to consolidate around its current price level before going on an aggressive 2021-style rally. At the time of writing, Bitcoin is consolidating below $70,000. The leading cryptocurrency is currently trading at $66,150, having lost 1.8% of its value in the past 24 hours. Featured image from Pixabay, chart from Tradingview.com
The firm's asset-management chief says the recent crypto selloff reflects healthy deleveraging, while infrastructure growth and institutional adoption support a bullish outlook.
Crypto expert Tony Severino has opined that Bitcoin isn’t just showing signs of a yearly top but also that the BTC price may have hit a 16-year cyclical peak. This comes amid the flagship crypto’s recent crash to $60,000, which sparked fears of a bear market. Bitcoin May Be Showing Signs Of A Peak Amid BTC Price Crash To $60,000 In an X post, Severino alluded to the yearly Bitcoin chart, which he said looks like a 16-year cyclical peak rather than just a yearly top. The expert also outlined several reasons this appears to be a major cyclical top for the BTC price. First, he noted that the white candlesticks have been decreasing in size over time, while black candlesticks engulf more white candles with each appearance. Related Reading: Bitcoin Price Just Hit A 15-Year Trendline After The Crash, What This Means Furthermore, Severino highlighted the Doji at the top of a rising wedge pattern while the Evening Star is in progress, which is a bearish reversal signal for the BTC price. Meanwhile, the Fischer Transform is crossing bearish with divergence, and the Stochastic is crossing bearish after being rejected from 80. He added that Bitcoin’s Relative Strength Index (RSI) is falling back below 70 after making it above this level on the highest timeframe chart. His analysis comes as the BTC price continues to decline, suggesting the crypto market may be in a bear market after topping last October. Bitcoin dropped to as low as $60,000 earlier this week, suffering its largest daily decline since the FTX collapse. Veteran trader Peter Brandt has also opined that Bitcoin is in a bear market, predicting that it could still drop to as low as $42,000 before it sees a bottom. Reason For The Recent BTC Crash BitMEX co-founder Arthur Hayes has commented on the reason for this recent Bitcoin crash, suggesting that it was due to external factors rather than part of an ongoing bear market. In an X post, he stated that the BTC price dump was probably due to a dealer hedging off the back of BlackRock’s BTC ETF structured products. Notably, BlackRock’s IBIT saw a record trading volume of $10 billion on the day of this crash to $60,000. Related Reading: Here’s What To Expect If The Bitcoin Price Maintains Support Above $74,400 Hayes’ comment comes on the back of Bitcoin’s rebound above $70,000, with the flagship crypto recording one of its largest ever daily gains yesterday following the crash to $60,000. Galaxy Digital’s Head of Research, Alex Thorn, suggested that the drop to $60,000 may mark the bottom for the BTC price. This came as he noted that the 200-week MA, which is around $60,000, has historically been a strong entry point for long-term investors. At the time of writing, the BTC price is trading at around $70,000, up over 6% in the last 24 hours, according to data from CoinMarketCap. Featured image from Pngtree, chart from Tradingview.com
The repurchase plan follows a volatile earnings week and signals confidence in the firm’s balance sheet.