(Forbes) Galaxy Digital has doubled down on efforts to bridge the worlds of institutional finance and crypto by acquiring two specialized cryptocurrency trading firms: DrawBridge Lending and Blue Fire Capital. The transactions are significant step forward for the industry and for Galaxy, a leading digital assets merchant bank.
The acquisitions are part of Galaxy’s continued strategy to bring greater institutionalization to the digital assets industry, expanding into derivative products and futures trading, on-exchange market making, lending, borrowing. The all shares deal, will add more than $150 million of third-party structured products to its existing $400 million AUM, while the headcount in Galaxy’s trading business is expected to increase by 50%…