Galaxy Digital Doubles Down On Crypto Trading Business – Acquires DrawBridge Lending And Blue Fire Capital

(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%…