Galaxy Research
@glxyresearch
$GLXY | Newsletter | Podcast | Reports Disclaimer:
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Formation Securities notified @SECgov today that it intends to operate the first tokenized securities venue on @solana, seeking issuer consent for listings.
Trading is expected to begin in early 2027, with tokenized $EXOD, $FWDI and $GLXY at launch.
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bitcoin just closed below its 50 week moving average after holding above it for 7 consecutive weeks
two other times (2011-12 & 2019-20) btc closed below its 50w after reclaiming it post-bear bottom
neither of those times did the bear make a new lower low (weekly close data)
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In this week's edition: Democrats won the U.S. House and Senate, Kazakhstan allocated $100M to crypto funds, and Anthropic released FlashProve, a zero-knowledge proof of inference prototype.
Read the full breakdown:
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bitcoin showed remarkable resilience on a day of wild moves in markets
great to see thursday close above the 50 week moving average
🏚️👻 ADDRESS AWAKENED — dormant 15+ years
This address had never sent coins (first funded 2011-05-31, 15.4y ago) until block 974,578, 20 blocks before this alert (2.23 BTC was below our alert tier); it just spent 6.95 BTC ($540K) in block 974,598
Address: 1692GvXYGgALX8NX5oWr7JaQH8NW1BATPj
Coins moved: 6.95 BTC in 1 UTXO — all held through the dormancy (oldest received 2011-06-01); sat-weighted UTXO age 15.4y
No known attribution on sender or recipient
💰 Realized PnL: +$540K (+806,815% gain) - basis ~$10 avg - held 15.4y
🕐 2026-11-04 22:54 UTC
TXID: 4147119f7831d5c8de3eb5c4a48f8b0f55c8d6226890f19e2a0584154a35de37
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bitcoin closes above 50 week moving average for 7th straight week despite $6b+ hack on world’s biggest crypto exchange
great to see BTC’s resilience and ability to keep the current technical market structure intact
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coinbase’s USDT-adjusted BTC discount to binance hit its widest level this year
but binance’s withdrawal freeze impaired arbitrage, complicating the U.S. demand signal. watch whether the gap closes now that withdrawals have resumed
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Oct 31, 2008: a pseudonym, a 9-page PDF, a mailing list. 18 years later:
- 1.47B transactions in 973,981 blocks; record day 927k (Apr 2024)
- 9.29B BTC moved: $176T gross, ~$61T net of change; biggest tx 550,000 BTC (2011)
- 1.59B addresses have held coins; 164M UTXOs; longest coin chain 4.63M hops
- 7 MH/s on one CPU to 1.2 ZH/s, ~21 GW, about 20 nuclear reactors' output
- 20.1M of 21M BTC issued; 3.6M untouched 10+ yrs, Satoshi's ~1.1M never moved
- $0.09 to $77k
Still nobody's in charge.
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🚨 LEDGER RESELLER THEFT: 52.506956 BTC ($4.20M) moved in block 973443
Hit: Ledger reseller theft — collector B
Address: bc1qjqgwejnp8dc0x2938x9n9954hj97t82unx49dl
Also in our DB: Ledger Hacker (CryptoBillis)
Recipient Attribution: Unknown
TXID: 6afea5e553cac224e97e951ce7352b3d6cada506a3453f1849ee0e758bac9a60
🕐 2026-10-27 19:02 UTC
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Bitcoin holds $80K as technicals, positioning, and fundamentals signal a historical buying opportunity.
The Galaxy Grid team breaks down the case for Bitcoin, Anthropic’s S1 filing, AI-driven cybersecurity threats, and Solana’s Alpenglow update.
Live now⤵️
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we're still early in 13F filings for BTC ETFs... most large asset managers and RIAs don't file until right up before the due date (nov 16)
but we're already seeing some of the longer term money adding in Q3. SIGFIG WEALTH MGMT (advisor) is a new brand new filer whose clients added $73m in Q3. a lot of their AUM is pass-through from retail accounts at banks like wells fargo, citizens, santander and UBS
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video version of my report “why now is the time to add and hold BTC”
Genuinely intrigued by this. Who is doing this? What are they sharing in the inscriptions? And why?
the blockchain contains strange and mysterious marvels
For three weeks someone has been writing sentences like this into Bitcoin, ~40 times a day:
"Ieqkenszm aalzrnbgtr nxnstd gubighxvfg byvzwrzk df qukz."
Looks like a cipher. It isn't. And the coins behind it belong to the wallet that inscribed the US Constitution in May. 🧵
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Someone has been repeatedly posting a short poem to the Bitcoin blockchain over the last 2 weeks and it caught our attention…
"Thoughtless quartz clocks drift, while blocks stack, each a strict proof, the timechain keeps score."
26 identical copies so far. What is it? 🤔
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Alex Thorn on Bitcoin market cycles, crypto adoption by traditional capital markets, the push and pull between decentralization and centralization, and the latest in tokenized securities, cybersecurity, and stablecoins.
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Legend Trade co-founder @apemoney joins us to discuss social trading activity and onchain perps they are seeing.
+ We break down why price action continues to dislocate from fundamentals, why retail traders are sitting in cash, and what’s next for crypto market structure.
Live now ⬇️
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Roughly $91M was stolen from Ledger wallets bought through a reseller, Papertrade launched with PAPER minted from trader losses, and the OCC released its debanking report.
Read the full breakdown 👇
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Prediction markets were just the beginning. Conditional markets, the next generation of event-driven finance, are starting to take shape.
Deep dive by @ZackPokorny_ covering where the sector stands, who's building in it, and what's next.
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