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Skolem announces $20 million Series A round led by Galaxy Digital

Data and trade execution service provider Skolem Technologies announced Wednesday that it has closed a $20 million Series A round led by Galaxy Digital. Point72 Ventures, Jump Crypto, Fenwick and West, Morpheus Ventures and Dragonfly Capital also joined the round, according to a release.  Skolem aims to provide a safe and secure entry point for institutional investors wishing to access the constantly evolving decentralized finance (DeFi) markets, according to CEO and founder JP Smith. Proceeds from this round will go …

Galaxy’s Mike Novogratz talks Terra collapse in new shareholder letter

Mike Novogratz, the billionaire CEO of crypto investment manager Galaxy Digital, opined on the recent crisis in the Terra blockchain ecosystem, which saw the market collapse of both the LUNA token as well as the algorithmic stablecoin UST.  The shareholder letter penned by Novogratz comes days after Galaxy released an update on its liquidity position. Galaxy is an early backer of Terraform Labs, the developer of the Terra blockchain, having taken part in a $25 million funding round announced in …

Terra-backer Galaxy Digital gives update on liquidity position

Mike Novogratz’s Galaxy Digital released a company update on Friday that gives visibility into its capital and liquidity position amid a frenzied crypto market tied to the meltdown of cryptocurrency Luna and associated algorithmic stablecoin TerraUSD (UST).  Galaxy Digital — an early backer of Terraform Labs and Luna — said in a release it “believes that the current digital asset and broader market conditions warrant providing shareholders, counterparties, and clients intra-quarter visibility regarding its capital and liquidity position, as well …

Crypto and fintech stocks rally after months-long slide

Quick Take Fintech and crypto stocks were among the leaders in Tuesday’s market rebound. Galaxy Digital and Coinbase were both up more than 5%. Financial-technology and cryptocurrency companies like Coinbase and Wise enjoyed a rebound on Tuesday, a much-needed relief for a group of stocks that have been shunned by Wall Street over the past few months.  The S&P 500 snapped a five day losing streak after a trading session in which Wall Street digested fresh comments on inflation and …