Galaxy Digital Debuts on Nasdaq Amid Active Crypto Developments

Galaxy Digital (GLXY) began trading today on the Nasdaq Global Select Market, adding a new chapter to its growth as a leading crypto financial services firm based in Toronto and helmed by Mike Novogratz. However, the listing faces strong competition for attention in a crypto ecosystem buzzing with fresh news.

On Crypto X—still popularly called Crypto Twitter (CT)—the spotlight was on Steak n’ Shake, which recently launched Bitcoin payments via the Lightning Network. Customers can now pay with Bitcoin at self-service kiosks, a milestone that has been widely shared across social media. Videos show users selecting the “Pay With Bitcoin” option and scanning QR codes with Lightning wallets like Zeus to complete transactions.

In other news, Hong Kong-based luxury watch wholesaler Top Win International (TOPW) announced a rebrand to AsiaStrategy and a strategic shift to manage its treasury through digital assets. This move follows the playbook of Michael Saylor’s Strategy (MSTR), which famously holds more than 568,000 BTC—around 2.5% of total bitcoin supply. Top Win has partnered with crypto-focused venture capital firm Sora to support this pivot. The company’s shares initially jumped 45% but later retreated to trade down 31% at $5.14.

Sora previously teamed up with Tokyo’s Metaplanet (3350), another firm adopting a similar crypto treasury approach.

Back on the Nasdaq floor, Galaxy Digital’s CEO Mike Novogratz marked the company’s Nasdaq debut by ringing the opening bell on Friday. He called the listing a “pivotal moment” for Galaxy. The company also announced it will maintain its Toronto Stock Exchange (TSX) listing for a transitional period.

Galaxy’s Nasdaq shares opened around $22.61, climbing 3.2% early in the session, while its TSX shares rose nearly 3% to close at C$31.48 ($22.53).