Galaxy Digital Eyes ETH Staking with CryptoManufaktur Acquisition

Crypto firm Galaxy Digital has acquired “substantially all” of the assets of node operator CryptoManufaktur to strengthen its position in the Ethereum staking and infrastructure scene.

What's the scoop?

• Staking Expansion: This acquisition increased Galaxy’s staked ETH assets from ~$2.3B to $3.3B.
• Team’s Merging: CryptoManufaktur’s engineering team, including founder Thorsten Behrens, will join Galaxy’s blockchain infrastructure team.
• Background: CryptoManufaktur, founded in 2020, has provided core infrastructure for Ethereum Proof-of-Stake node deployments and other blockchains like Polygon and Optimism.

Bankless Take

Merges and acquisitions have been a growing trend these past couple of months. Joining this trend, Galaxy Digital’s acquisition of CryptoManufaktur could hold significant implications for the expansion of their Ethereum capabilities.

As one of Crypto Twitter’s most favored crypto stocks recently, Galaxy will now be able to bolster its offerings to institutional clients, coinciding well with the ETH ETF launches next week (if all goes according to plan).