Foley Represents DrawBridge Lending in Deal with Galaxy Digital and Blue Fire Capital

13 November 2020 Media Contact: Dan Farrell News
A Foley team successfully represented DrawBridge Lending, a CFTC-regulated Commodity Trading Advisor (CTA) and Commodity Pool Operator (CPO) that originates structured loans to digital asset traders and investors, in its deal to be acquired by Galaxy Digital Holdings Ltd (TSX: GLXY) alongside Blue Fire Capital, a proprietary trading firm specializing in market-making and two-sided liquidity for digital assets. Digital assets include bitcoin and ether, among other emerging currencies and commodities.

Galaxy Digital acquired DrawBridge and Blue Fire to amplify its strong position as a go-to trading desk in digital assets, grow its innovative portfolio of trading products and services, broaden its talent base and meet institutional demand.

The Foley team advised Drawbridge on regulatory issues and represented its client in negotiations with Galaxy.

The Foley team was led by Patrick Daugherty, senior securities partner and head of the firm’s digital assets practice.

For more information on this deal, please read Galaxy Digital Expands Global Crypto Trading Business with Acquisitions of DrawBridge Lending and Blue Fire Capital.