Galaxy Digital has significantly expanded its Ethereum portfolio by acquiring CryptoManufaktur (CMF) in a $1 billion deal, boosting their staked Ethereum assets by 43%. This acquisition, completed in 2023, strengthens Galaxy Digital’s blockchain infrastructure capabilities.
Founded in 2020, CMF initially focused on developing foundational infrastructure for Chainlink’s price feeds. The company soon became a key player in blockchain infrastructure, aligning with Galaxy Digital’s vision of scaling operations and enhancing services. CMF’s founder, Thorsten Behrens, along with several former employees, has joined Galaxy Digital, bringing valuable expertise and innovation.
This strategic move broadens Galaxy Digital’s service capabilities, particularly in Oracle Data-as-a-Service, enhancing their ability to support vital blockchain projects. By integrating CMF’s assets and talent, Galaxy Digital is better positioned to meet their projection of a $1 billion monthly capital inflow into spot Ethereum ETFs. This acquisition underscores their commitment to strengthening blockchain infrastructure, benefiting the broader crypto market in the long term.
