Galaxy Digital

In a Friday announcement,  financial services and investment management company Galaxy Digital revealed plans to purchase asset custody solution GK8. The firm, led by Mike Novogratz, won a bid allowing it to acquire GK8 from Celsius network under the lender’s bankruptcy proceedings. Galaxy to Implement GK8’s Custody Technologies GK8 is a blockchain-focused cybersecurity provider for financial institutions to store their digital assets. The platform also allows users to perform transactions without an internet connection. In their release, Galaxy digital noted…

As Bitcoin and blockchain gain momentum at the corporate level, Galaxy Digital has released a report on Bitcoin energy consumption. The report describes how the network consumes less energy than traditional financial industries and its value. The report comes days after Tesla CEO Elon Musk, the most significant vocal fan of cryptocurrencies on social media, banned bitcoin as a form of payment for Tesla products. He blamed the use of fossil fuel for bitcoin mining and transactions. The ban came…

The unfriendly relationship between cryptocurrencies and central banks doesn't look like it's ending soon. In a recent interview with Bloomberg,  the governor of the Central Bank of Ireland, Gabriel Makhlouf, warned the general public about the risks of investing in crypto assets, bitcoin in particular. Mirroring the same warnings the United Kingdom's Financial Conduct Authority made recently, Makhlouf said he supports the UK regulator, noting that those investing in Bitcoin should be "prepared to lose all their money."  Although the…