Mike Novogratz’s $25M Roller Coaster to Nasdaq Glory: $GLXY Finally Gets a Spot

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  • Galaxy Digital secures Nasdaq listing after a 4-year, $25M regulatory journey. What a ride!
  • Bitcoin’s surge boosts interest in crypto-linked equities like GLXY and Coinbase. Money’s talking!

Ah, the sweet scent of victory and freshly printed stock certificates! After four long years of bureaucratic hell and a $25 million price tag, Galaxy Digital, the brainchild of crypto kingpin Mike Novogratz, has finally secured its place on the Nasdaq Global Select Market. And no, this wasn’t just a casual Sunday stroll to the market; it was a full-on trek through regulatory quicksand.

Mike Novogratz Celebrates Like a Crypto Hero

Our favorite Wall Street crypto cowboy, Mike Novogratz, couldn’t contain his excitement. In true Novogratz fashion, he hopped onto X (formerly Twitter) to announce the glorious news that $GLXY is now live. A standing ovation for this monumental moment in the crypto world!

He triumphantly said,

“Proud moment. Beyond grateful to our team, investors, partners, and everyone on the journey. $GLXY.”

Of course, the man didn’t stop there. In a heart-to-heart chat with CNBC, Mike dropped the truth bomb that making Galaxy Digital public in the U.S. cost him not just time but also over $25 million. All that money didn’t exactly buy him a smooth ride, though.

He shared his frustration,

“It felt un-American, unfair, infuriating.”

In fact, what was supposed to be a breezy 90-day process turned into a 1,320-day marathon that included not one, not two, but nine rounds of SEC feedback. Mike, if patience were a crypto, you’d be a billionaire by now.

And then, the cherry on top of this bitter cake:

“One of the things that people didn’t understand about the crypto tax is that you needed to be very well capitalized — and a pretty big, strong company — just to stay in the game.”

The Community Reacts: Who Needs A Hero When You Have Mike?

And the crowd goes wild! The crypto community couldn’t get enough of this news. One user, Dustin Burnham, swooned with admiration:

“I remember listening to you discuss your philanthropic work where you pay for bail in cases that people are being held in prison simply over bail issues. Really cool stuff, congrats Mike!”

Jeremy Almond jumped in with similar gushing praise, and while we’re sure Jeremy is a big fan, he also managed to add a snazzy pic:

The Stock Price: $GLXY Takes Off Like a Rocket 🚀

Once the bureaucratic chains were finally loosened, Galaxy Digital hit Nasdaq trading under the ticker symbol $GLXY. No surprise here – the stock’s debut was a smooth operator, starting at $23.50 per share, and almost immediately climbing, because who doesn’t love a bit of optimism?

By the time the dust settled, $GLXY was up 3.01%, reaching a solid $31.49 according to Google Finance. Wall Street was officially onboard with Galaxy Digital’s long-awaited U.S. market entry.

The Bigger Picture: Crypto, Stocks, and Bitcoin – Oh My!

Galaxy Digital’s Nasdaq debut isn’t just a solo act. Oh no, it’s part of a grand show! Several crypto-focused firms, like Marathon Digital Holdings and Coinbase Global Inc., are already taking a bow on the same stage. What a lineup!

And of course, the real star of the show? Bitcoin. As the price of the world’s most famous crypto soared, investor interest in both Bitcoin and its associated stocks hit a new high. The market’s merging the best of both worlds – digital assets and traditional finance – and, as they say, the money never lies.

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2025-05-17 15:08