How Galaxy Digital bridges the gap between the crypto and the institutional worlds

Odd Lots
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Automatic TRANSCRIPT

A very simple thing to ask you. Which is what is galaxy actually do. Because every time i see described. It's usually a really vague. Term like galaxy is an investment firm in crypto or galaxy. Works in the crypto industry. Never see a release specific description of it i. We're going to try to be much crystal player so we have four or five businesses. Did anyone to break it out. We have one business. Which is were you know or adventure shop direct investing and so we've invested in eighty companies. That are building out the crypto ecosystem from new protocols like one inch or luna token to exchanges to custody services so anything that has touched the crypto ecosystem or quite frankly the virtual world ecosystem we're investing in so we have a giant portfolio of of investments. We have inventory of bitcoin. Theory of another coins that i personally trade And so by at one is going down and settlers going up and so that's our principal activities. Then we have what you'd call a traditional sales let sales trading credits. We lend money to people that are participating in the space that's miners. That's that are just normal. Customers lending on margin we have a derivative business. Right were the second or third biggest a market maker in options and so you want to do structure product or sell calls against your position or by plus where there for institutions we have an asset management business where we take other people's money in raise it we have a bitcoin fund We have the bloomberg. Bitcoin crypto index We have a venture fund that focus on the virtual worlds stuff and we have an investment bank a group of people that have great domain expertise in the space and we'll give advice on mergers and acquisitions on on capela raziq and so and then we have a mining division right. We are minding our own crypto. And that's mining finance its mining derivatives in its us mining ourselves and so pretty broad and diversified it's been focused on institutions not retail. And so that was a painful position to be in until about april last year. With covid happened right. i said l. the 'institutions are coming in men. they were slow and then covert happened. And they went from walking at one mile an hour to trotting to sprinting. And now it's like ninety nine mph. You know just mad dash and so you've seen hedge funds insurance companies asset managers all entering the space since april and. That's why when we went through twenty. We went right to forty in bitcoin. Those institutions are mostly buying bitcoin. But the moment you make a little money in bitcoin yelich. What else is in this space. And you look into the theory amoeba system. And you're like wow that's pretty cool too. And so then. They're putting some money in theory and then the final spaces will wear the real disruptions to happen is in defy defy really simply put his taking a blockchain breeds in the financial system. Right it is creating driverless. Banks or driverless. Insurance companies are driverless derivative markets. And that while it still. I think in the sandbox right. It's still working out the kinks in beings. Lloyd it's growing so fast that you could see the guppies jump out of the sandbox and become frog's really

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