投资动态 - 总部位于蒙特利尔的Formula Growth基金于11月13日披露，其新建仓了Galaxy Digital (NASDAQ:GLXY)，购入139,195股，价值约471万美元 [2][3] - 该新建仓位价值约470万美元（截至9月30日），约占该基金2.8108亿美元可报告美国股票资产的1.67% [3][7] - 此次建仓规模符合该基金的投资模式，其多数主要持仓占比略高于2%，因此1.67%的仓位属于一次有节制的介入，而非高置信度的重注 [11] 公司股价与市场表现 - 截至新闻发布前的周五收盘，Galaxy Digital股价为24美元，过去一年仅上涨2%，大幅跑输同期上涨16.5%的标普500指数 [4] - 公司宣布进行10亿美元的可转换票据发行后，股价自10月下旬以来下跌了近40% [11] - 公司当前市值为97亿美元 [5] 公司财务与业务状况 - 公司第三季度业绩强劲，实现净利润5.05亿美元，调整后息税折旧摊销前利润为6.29亿美元，主要受创纪录的交易活动和投资收益推动 [12] - 截至第三季度末，公司资产负债表流动性充足，拥有19亿美元现金和稳定币，总权益为32亿美元 [12] - 公司过去十二个月营收为233亿美元，但净亏损为2.309亿美元 [5] - 公司的Helios数据中心项目现已获得全额资金，预计所有阶段交付后，每年可带来高达10亿美元的营收 [12] 公司业务概览 - Galaxy Digital提供数字资产交易、衍生品、结构化产品、借贷、资本市场、并购咨询、资产管理、比特币挖矿和验证器服务 [9] - 公司通过交易费用、资产管理、融资、咨询服务以及为数字资产和区块链基础设施提供技术解决方案来产生收入 [9] - 公司服务于寻求数字资产市场和区块链技术解决方案敞口的机构投资者、企业和个人 [10] - 公司在数字资产和区块链领域大规模运营，拥有横跨交易、资产管理和基础设施解决方案的多元化平台 [10] 基金持仓结构 - 此次建仓后，Galaxy Digital并未进入Formula Growth基金按仓位规模排名的前五大持仓 [7] - 该基金前五大持仓及其在管理资产中的占比分别为：SWIM（2.7%，价值753万美元）、JHX（2.6%，价值724万美元）、TEAM（2.3%，价值639万美元）、SSYS（2.3%，价值638万美元）、MU（2.3%，价值636万美元） [8]

Solana quantum computing. Photo by BeInCrypto Solana has struggled to recover after a recent price decline, with SOL remaining capped below the $130 resistance. The altcoin has shown attempts to stabilize, yet momentum remains fragile.  Unlike previous rallies driven by new inflows, the next move appears dependent on existing Solana holders rather than fresh market entrants. Some Solana Holders Show Resilience On-chain data shows early signs of stabilization. The Chaikin Money Flow has posted a sharp u ...

Coinbase has appointed former UK finance minister George Osborne as chair of its Global Advisory Council. It is clear that the American crypto exchange wants to deepen its influence with governments outside the United States. Earlier this week, Coinbase tested the waters in India as its deal to acquire a minority stake in local crypto trading platform CoinDCX was approved by the Competition Commission of India. Coinbase Expands Policy Reach Beyond the US Coinbase confirmed that Osborne will take a more ...

This year, I published a wide range of research notes across the ETF landscape, but reader interest consistently focused around a few big themes: crypto ETFs, global defense ETFs, and commodities ETFs. These areas of the ETF market not only drew meaningful year-to-date inflows. ...

Stablecoins are now processing more adjusted volume each month than major payment networks such as Visa and PayPal, according to Delphi Digital. The firm described stablecoins as “the most important infrastructure story in crypto” due to rapid growth in usage and supply. Notably, by October, monthly adjusted stablecoin transaction volume climbed to $1.5 trillion. For comparison, Visa and Mastercard recorded network spending volumes of $4.4 trillion and $2.7 trillion, respectively, during the third quarter ...

Klarna Group plc (NYSE:KLAR) is one of the best FinTech stocks to buy in 2026. On December 11, Klarna announced it had signed a research partnership with Privy to explore and co-design wallet solutions to support a new generation of crypto products for Klarna users. The company framed the effort as an attempt to lower the friction that keeps crypto stuck in the “early adopter” lane, focusing on making it easier for everyday users to store, use, and transact with digital assets inside a familiar consumer p ...

加密货币市场整体回调 - 比特币价格从突破90,000美元后逆转，目前交易价格约为86,500美元，过去一小时下跌约3.9% [1] - 以太坊价格下跌5.3%至约2,850美元，XRP下跌4.1%至约1.89美元 [1] - 更广泛的市场（以CoinDesk 20指数衡量）当日下跌1.5% [1] 加密货币矿业公司股价受重创 - MARA Holdings 回吐涨幅，当日下跌4.8% [2] - Core Scientific 下跌6% [2] - CleanSpark 回吐全部涨幅，下跌0.38% [2] - Riot Platforms 下跌0.7% [2] 交易与加密货币服务类股票普遍降温 - 稳定币USDC发行方Circle Internet股价下跌3.2% [3] - 最大企业比特币持有者MicroStrategy下跌2% [3] - Galaxy Digital 下跌1.9% [3] - 加密货币交易所Coinbase下跌0.55% [3] - Hut 8 因宣布与AI基础设施公司Fluidstack达成一项为期15年、价值70亿美元的租赁协议，早盘飙升20%，当日仍保持超过12%的涨幅 [3] 宏观经济背景 - 美联储理事克里斯·沃勒淡化了利率的中性立场，并表示就业增长看起来接近于零 [4] - 预测市场Polymarket和Kalshi均显示1月不降息的概率超过70%，CME FedWatch工具也指向同一方向 [4]

Macquarie (MQG) expects the U.S. Senate’s crypto push to accelerate, as recent closed-door talks among Democrats and Republicans over a compromise market-structure bill mark a meaningful step toward bipartisan agreement, the investment bank said in a report last week. The bank framed a Dec. 8 meeting of Democratic negotiators, including Senators Kirsten Gillibrand, Mark Warner and Ruben Gallego, and a separate meeting between Senators and Wall Street leaders such as Citigroup’s (C) Jane Fraser, Bank of Am ...

GreensKeeper Asset Management, an investment management company, released its third-quarter 2025 investor letter. A copy of the letter can be downloaded here. The Value Fund has ended the quarter with a +4.0% gain, taking the YTD return to +0.2% net of fees and expenses. The US dollar continued to pose a challenge, negatively impacting performance by -3.7% so far this year. The year’s market rally was primarily led by AI, crypto, and speculation. In addition, you can check the fund’s top 5 holdings to dete ...

GreensKeeper Asset Management, an investment management company, released its third-quarter 2025 investor letter. A copy of the letter can be downloaded here. The Value Fund has ended the quarter with a +4.0% gain, taking the YTD return to +0.2% net of fees and expenses. The US dollar continued to pose a challenge, negatively impacting performance by -3.7% so far this year. The year’s market rally was primarily led by AI, crypto, and speculation. In addition, you can check the fund’s top 5 holdings to dete ...