K Wave Media partners with Galaxy Digital for bitcoin strategy

NEW YORK/SEOUL - K Wave Media (NASDAQ:KWM) announced today a strategic partnership with Galaxy Digital (NASDAQ:GLXY), which will serve as an asset manager and strategic advisor for KWM’s bitcoin treasury strategy. Galaxy Digital, currently trading near its 52-week high with a market capitalization of $10.1 billion, has seen its stock surge over 26% in the past week.

As part of the agreement, Galaxy Digital will also make an investment in K Wave Media, a company that combines Korean cultural innovation with bitcoin treasury operations.

"Galaxy shares our belief that Bitcoin is not just a reserve asset, but a generational monetary shift," said Ted Kim, CEO of K Wave Media, in a press release statement.

Galaxy will provide guidance on structuring bitcoin purchases, risk management, custody frameworks, and alignment with institutional financial infrastructure. The company maintains strong liquidity with a current ratio of 2.68, though investors should note its high volatility profile with a beta of 4.34.

K Wave Media has already acquired 88 bitcoin and reports having access to nearly $1 billion in institutional capital to support its initiatives. The company is pursuing what it describes as one of the more aggressive bitcoin treasury strategies among public companies.

"Corporate adoption of Bitcoin is evolving from theory to action, and K Wave Media is at the forefront of that shift," said Steve Kurz, Global Head of Asset Management at Galaxy Digital.

K Wave Media operates across Korean retail, U.S. institutions, and global crypto markets. The company indicated it is exploring additional partnerships and acquisitions to expand both its treasury position and cultural reach.

The financial terms of Galaxy Digital’s investment were not disclosed in the announcement.

In other recent news, Galaxy Digital Inc. announced the successful close of its Galaxy Ventures Fund I, securing over $175 million in capital commitments. This amount surpasses the initial target of $150 million, highlighting significant interest from institutional investors, family offices, and strategic digital asset businesses. The fund is set to invest in early-stage companies that are developing infrastructure and applications for the blockchain-based economy, with a focus on areas such as stablecoins, payments, and tokenization. Galaxy Ventures has already invested in startups like 1Money, Arch Lending, Ethena, and Yellow Card, bringing its total portfolio to over 120 companies. The establishment of this fund marks a shift from the firm’s previous strategy of investing from Galaxy’s balance sheet since 2018. Mike Novogratz, Founder and CEO of Galaxy, noted that closing the fund above the target during challenging times for crypto ventures showcases the team’s unique market edge. The Galaxy Ventures team, led by Will Nuelle and Mike Giampapa, is supported by a platform function that offers resources and connectivity to Galaxy’s global business lines. This development is based on a press release from Galaxy Digital Inc.

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