Galaxy Buys Almost All of CryptoManufaktur's Ethereum Assets to Expand Staking Portfolio
Galaxy Digital, a crypto firm led by Michael Novogratz, has acquired the assets of blockchain node operator CryptoManufaktur LLC (CMF). This acquisition will increase Galaxy's Ethereum assets under stake by approximately 43%. CMF founder Thorsten Behrens and his engineering team will join Galaxy's blockchain infrastructure team. CMF was launched in 2020 to build infrastructure for the Chainlink blockchain oracle project and later expanded to run automated proof-of-stake node deployment infrastructure on Ethereum. The deal includes about $1 billion of Ethereum assets under stake, increasing Galaxy's total to $3.3 billion. Galaxy has been expanding into blockchain infrastructure, in addition to its primary business lines of crypto trading and investment management.
