Galaxy acquires $1 billion in Ethereum assets from CryptoManufaktur to grow staking protocol
Galaxy Digital announced today that it has acquired $1 billion in Ethereum assets from CryptoManufaktur (CMF).
Galaxy is excited to announce that it has acquired substantially all of the assets of @cryptomanuf, a blockchain node operator that provides trusted, secure services to decentralized protocols across the digital asset ecosystem.
— Galaxy (@galaxyhq) July 19, 2024
Press Release: https://t.co/muSzAvEtQt
As part of the acquisition deal, the seasoned three-person engineering team of CMF, led by founder Thorsten Behrens, will become a part of Galaxy's Blockchain Infrastructure team, according to the press release.
The post added that it provides staking and validator services to qualified investors, protocols, and digital asset platforms. The team provides qualified investors, protocols, and digital asset platforms with staking and validator services.
The acquisition of CMF by Galaxy will strengthen the company's Oracle Data as a Service offering to customers and significantly improve its capacity to offer technical and infrastructure support for important projects and deployments. The addition of CMF adds approximately $1 billion in Ethereum assets under stake (or "AUS"), bringing the company's total AUS [1] to $3.3 billion while strengthening Galaxy's diversified business model.
Galaxy's blockchain infrastructure, staking capabilities, and ability to offer enterprise-grade technical know-how and support to key areas of the digital asset ecosystem are all growing quickly. As a leading technical partner to builders and protocols, our acquisition of CMF is a significant milestone, according to Zane Glauber, Head of Galaxy's Blockchain Infrastructure team.
We are also lucky to have added Thorsten, a highly regarded member of the staking community, with his track record and gravitas. We are happy to have him and his engineering team here, Glauber added.
"The acquisition of CMF's assets by Galaxy is a significant milestone for our organization and a demonstration of our team's strength and experience in developing significant blockchain infrastructure," stated Thorsten Behrens.
We think Galaxy is in a unique position to act as the preferred provider of blockchain infrastructure and a top validator of high-performing blockchains, having worked closely with the company's talented team.
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