Galaxy Digital Begins Trading on Nasdaq Amid Busy Crypto News Cycle
Galaxy Digital (GLXY) made its debut on the Nasdaq Global Select Market today, marking a significant milestone for the Toronto-based crypto financial services firm led by Mike Novogratz. Despite the excitement around its listing, Galaxy faces stiff competition for attention within the vibrant crypto community.
Crypto X—still widely referred to as Crypto Twitter (CT) despite the platform’s rebranding—was abuzz with news of Steak n’ Shake’s recent rollout of Bitcoin payments via the Lightning Network. The fast-food chain, which announced its Bitcoin acceptance plans last week, is now allowing customers to pay using Bitcoin at self-service kiosks. A video circulating on social media shows a customer completing a purchase by selecting the “Pay With Bitcoin” option and scanning a Lightning wallet QR code using the Zeus app.
Meanwhile, Top Win International (TOPW), a luxury watch wholesaler based in Hong Kong, announced plans to rebrand as AsiaStrategy and transition its treasury management into digital assets. This move mirrors the strategy popularized by Michael Saylor’s company, Strategy (MSTR), which holds over 568,000 BTC—more than 2.5% of the total bitcoin supply. Top Win has partnered with crypto venture capital firm Sora for this pivot. The company’s shares surged as much as 45% following the announcement but later pared gains to close down 31% at $5.14.
Sora has also previously collaborated with Tokyo-based Metaplanet (3350), another firm adopting a similar crypto treasury strategy.
Back to Galaxy, Mike Novogratz marked the occasion by ringing the Nasdaq opening bell on Friday, describing the listing as a “pivotal moment” for the company. Galaxy Digital will maintain its listing on the Toronto Stock Exchange (TSX) for a transitional period following its Nasdaq debut.
Shares of GLXY opened at approximately $22.61 on Nasdaq, rising 3.2% in early trading. Meanwhile, its Toronto-listed shares gained 2.98% to close at C$31.48 ($22.53).
