Galaxy Digital took over the cryptographic companies DrawBridge Lending and Blue Fire Capital.

Galaxy Digital Mike Novograts acquired DrawBridge Lending and Blue Fire Capital. The takeover will allow the crypt-currency bank to expand its line of trading solutions, as well as to strengthen its expertise in lending and derivatives, the press release says.

DrawBridge Lending is positioned to be an innovator in the areas of cryptocurrency lending and structured products. The company is registered with the Futures Trading Commission (CFTC) as a Futures Trading Consultant and commodity pool operator.

Blue Fire Capital is a dealer in the cryptovolta Bitcoin Pro review market and specialises in the functions of a market maker.

According to Galaxy Digital, the annual volume of over-the-counter trading in digital assets has exceeded $4 billion. 200 companies are the bank’s customers.

“Over the last two and a half years, the Galaxy Digital Trading team has been working on the implementation of the road map. We were able to improve our ability to execute transactions, provide liquidity and a range of services in the context of spot trading and derivatives. The purchase of DrawBridge Lending and Blue Fire Capital is the next important milestone,” said Peter Wisniewski, co-head of Galaxy Digital Trading.

Galaxy Digital also presented its financial results for the third quarter. The company’s net total revenue for this period reached $44.6 million. The figure for January-September was $58.4 million.

Revenue from the bank’s trading division increased 75% from July to September compared to the same period last year to a record $1.4 billion. The growth was driven by agreements with 30 new customers, the launch of an electronic trading platform and increased activity in the cryptoderivatives market.

Funds managed by Galaxy Digital Asset Management increased to $407.4 million at the end of the reporting period and amounted to $90.5 million at the beginning of the year.

The volume of assets managed by the passive bitcoin fund and various index funds reached $82.4 million.

The profitability of the bitcoin fund linked to the Bloomberg CFIX index was 17.3%. The Galaxy Crypto index fund linked to a basket of the most liquid cryptovoltaic currencies rose by 32.2%.

In October, Galaxy Digital announced plans to provide financial services to bitcoin miners.

At the end of September, the Mike Novograts trade bank became a minority shareholder in ParaFi Capital. The partnership involves joint investments in the DeFi- sector.

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