Galaxy Digital Sees Demand Surge as U.S. Passes First Major Crypto Bill

By Connor HartInvestors steered clear of the cryptocurrency industry for the past four years, according to executives at Galaxy Digital, dissuaded by what the executives said was an openly hostile administration that worked to stifle adoption, investment and innovation.But now, they said, tides are changing."When we look back, 2025 is going to be the year that public markets in the U.S. collided with crypto markets for the first time," Steve Kurz, the company's global head of asset management, said.Galaxy bridges traditional finance and the digital economy, in part offering trading and investment-banking services to businesses looking to branch into crypto. The company said it has experienced a sharp uptick in demand this year, as President Trump has fast-tracked efforts to ease regulatory burdens on the industry.Those efforts culminated this week in Washington, where Congress cleared legislation that outlines federal rules for stablecoins and establishes a clear regulatory framework for digital assets.For years, unclear rules and regulatory uncertainty kept big investors on the sidelines. But with the new legislation offering long-awaited guardrails, that hesitation is quickly evaporating, Jason Urban, Galaxy's global head of trading, said."It's like you took a bunch of third graders and locked them in a gymnasium and fed them candy," Urban said. "We just blew open the doors to the playground, and now everybody's out running around."To meet surging demand and remain competitive as more investors flood into the sector, Galaxy is expanding aggressively, Kurz said. The company is currently looking to fill about 60 open roles. Its internship program alone drew more than 15,000 applicants this cycle, he added.According to Urban, firms are approaching crypto adoption from different angles."Some are coming at it from the traditional finance side to the middle, and others are approaching it from the crypto side back to the middle," he said. "We think we're already positioned in the middle, and from that standpoint, we feel confident and excited."Write to Connor Hart at [email protected]