Galaxy Digital Finally Hits Nasdaq: Is This the 'Tendies' We've Been Waiting For?

Finally Some Good F***ing News!

Alright alright alright! Gather 'round you beautiful baldies and greasy haired goblins! Your boy Asmongold is here to break down some potentially HUGE news. Mike Novogratz's Galaxy Digital that crypto firm we've been hearing about forever FINALLY started trading on the Nasdaq under the ticker GLXY. Opened at $23.50 a share which let's be honest is probably more than I have in my bank account after buying all those Final Fantasy XIV mounts.

From Toronto to Tendies: The Great Migration

Now Galaxy Digital has been slumming it on the Toronto Stock Exchange since 2020 but they finally made the big move to the Nasdaq. This wasn't some smooth greased up slide though. Oh no chat. This was a full blown multi year battle with U.S. regulators. Think of it like trying to get a WoW raid group to coordinate their cooldowns. A complete and utter nightmare.

Crypto and AI: The Two Pillars of GigaChad Finance

Novogratz himself said that Galaxy's future hinges on two things: crypto and AI. He's calling them the two 'most exciting growth areas in markets.' Which okay boomer... but also maybe he's got a point? It's like saying Blizzard should focus on making good games and not I dunno Diablo Immortal 2. These companies need to stop being cringe.

Data Centers and Degenerates: A Match Made in Heaven?

Apparently Galaxy is now effectively two businesses: a data center company and a crypto company. So basically they're providing the servers that host all the NFT monkey pictures we're all definitely not buying. 'We have built our company for this moment so I couldn't be more excited,' Novogratz said. Alright pump it up dude. Sell me on it. Tell me this is a good investment I need to feel something again.

The Regulatory Ruckus: $25 Million and Nine Rounds of Bullsh*t

Here's the kicker. This Nasdaq listing took FOUR YEARS because of regulatory delays. Galaxy spent over $25 million and went through NINE rounds of comments with the SEC. What should have taken 90 days stretched to 1,320. That's longer than it takes Blizzard to nerf a new class. 'You needed to be very well capitalized just to stay in the game,' Novogratz said. Translation: Only the rich can play as always.

Is This A Bull Run? Or Just Another Pump and Dump?

Novogratz also pointed out that the U.S. market is just bigger and better like the Big Gulp of financial markets. The listing comes after eToro's successful Nasdaq debut signaling that maybe just maybe investors are feeling a little less scared of crypto after all those rug pulls. So is this the next big bull run? Or just another opportunity for whales to dump on us little guys? Only time will tell but you know what they say: stay bald stay greedy!