
Galaxy Brains
Welcome to Galaxy Brains, hosted by Alex Thorn, Head of Research at Galaxy. Our weekly podcast provides insights and analysis on trends and events across the cryptocurrency ecosystem. Each week Alex will be joined by members of the research team to discuss the latest developments on all things crypto and blockchain technology.
Latest episodes

May 22, 2025 • 42min
The Philosophy of Bitcoin w/ Brad Rettler
Alex Thorn talks to Prof. Brad Rettler (University of Wyoming) about evaluating bitcoin through first principles and whether it’s a net positive or negative for the world. Brad also explains the Bitcoin Research Institute, a first-of-its-kind institution solely focused on producing academic grade research on Bitcoin. Alex also talks to Beimnet Abebe (Galaxy Trading) about bitcoin’s new all-time high and pressure in fixed income markets.
This episode was recorded on Wednesday, May 21, 2025.
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Follow us on Twitter, @glxyresearch, and read our research at www.galaxy.com/research/ to learn more! This podcast, and the information contained herein, has been provided to you by Galaxy Digital Holdings LP and its affiliates (“Galaxy Digital”) solely for informational purposes. View the full disclaimer at www.galaxy.com/disclaimer-galaxy-brains-podcast/

May 15, 2025 • 48min
Galaxy’s Nasdaq Debut w/ Mike Novogratz
In this episode of Galaxy Brains, Alex Thorn is joined by Galaxy Founder and CEO Mike Novogratz for a wide-ranging conversation on markets, Bitcoin momentum, and the company’s upcoming Nasdaq listing. They discuss crypto’s recent drawdown and rebound, the rise of Bitcoin treasury strategies, macro headwinds and dollar risks, and how stablecoin legislation could bolster U.S. financial leadership. Mike also shares why Galaxy is doubling down on AI infrastructure, what it means for the future of the firm, and how crypto and AI may converge.
Alex also speaks with Beimnet Abebe from Galaxy Trading about equity market momentum, institutional positioning, and what could break the rally.
This episode was recorded on Tuesday, May 13, 2025.
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Follow us on Twitter, @glxyresearch, and read our research at www.galaxy.com/research/ to learn more! This podcast, and the information contained herein, has been provided to you by Galaxy Digital Holdings LP and its affiliates (“Galaxy Digital”) solely for informational purposes. View the full disclaimer at www.galaxy.com/disclaimer-galaxy-brains-podcast/

May 8, 2025 • 52min
The DOJ’s Case Against Samourai Wallet With Zack Shapiro
In this episode of Galaxy Brains, Alex Thorn is joined by Zack Shapiro, Head of Policy at the Bitcoin Policy Institute, to examine the DOJ’s criminal case against the developers of Samourai Wallet and its far-reaching implications for open-source software, financial privacy, and the future of non-custodial Bitcoin tools in the U.S. Alex also speaks with Natalia Li, Head of U.S. Policy at Galaxy, about the Senate’s stablecoin legislation and with Beimnet Abebe, Head of Credit Trading at Galaxy, about key Fed takeaways, market signals, and macro risks.
This episode was recorded on Wednesday, May 7, 2025.
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Follow us on Twitter, @glxyresearch, and read our research at www.galaxy.com/research/ to learn more! This podcast, and the information contained herein, has been provided to you by Galaxy Digital Holdings LP and its affiliates (“Galaxy Digital”) solely for informational purposes. View the full disclaimer at www.galaxy.com/disclaimer-galaxy-brains-podcast/

May 1, 2025 • 1h 23min
Strategic Bitcoin Reserve With Matt Pines
In this episode of Galaxy Brains, Alex Thorn is joined by Matt Pines, Executive Director of the Bitcoin Policy Institute, for a deep dive into national Bitcoin strategy, including the concept of a U.S. Strategic Bitcoin Reserve, the mechanics and potential of BitBonds, and the looming risks of quantum computing to Bitcoin’s cryptography. They explore how sovereign adoption, fiscal policy, and geopolitical shifts may shape the future of Bitcoin. Alex also speaks with Galaxy Trading’s Beimnet Abebe about rising recession risks, tariff impacts, and why markets may be mispricing coming slowdowns.
This episode was recorded on Wednesday, April 30, 2025.
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Follow us on Twitter, @glxyresearch, and read our research at www.galaxy.com/research/ to learn more! This podcast, and the information contained herein, has been provided to you by Galaxy Digital Holdings LP and its affiliates (“Galaxy Digital”) solely for informational purposes. View the full disclaimer at www.galaxy.com/disclaimer-galaxy-brains-podcast/

Apr 24, 2025 • 43min
Galaxy Research’s First Governance Proposal With Zack Pokorny
In this episode of Galaxy Brains, Alex Thorn speaks with Zack Pokorny, Galaxy Research Associate, about MESA, Galaxy Research’s first-ever governance proposal. Designed to reduce Solana inflation through a more democratic voting framework, the proposal introduces multiple voting options rather than a binary outcome. Zack unpacks the motivation behind the proposal, compares it to SIMD-228, and explores how token emissions shape lending, staking, and yield dynamics across DeFi. Plus, Beimnet Abebe (Galaxy Trading) joins to discuss volatile market action amid tariff uncertainty, shifting global sentiment, and signs of policy indecision. This episode was recorded on Wednesday, April 23, 2025.++Follow us on Twitter, @glxyresearch, and read our research at www.galaxy.com/research/ to learn more! This podcast, and the information contained herein, has been provided to you by Galaxy Digital Holdings LP and its affiliates (“Galaxy Digital”) solely for informational purposes. View the full disclaimer at www.galaxy.com/disclaimer-galaxy-brains-podcast/

18 snips
Apr 17, 2025 • 53min
The State of Crypto Lending w/ Max Bareiss
Max Bareiss, Head of Lending at Galaxy, dives into the evolution of the bitcoin and crypto lending market, exploring the fusion of centralized and decentralized finance. He highlights innovative lending structures and the role of Bitcoin as collateral. Beimnet Abebe from Galaxy Trading offers sharp insights on economic policies, market fluctuations, and the broader implications of tariffs on consumer sentiment. They discuss the shifting dynamics of the dollar and how these factors affect investor behaviors in a landscape ripe with financial uncertainty.

Apr 10, 2025 • 42min
Is the Bull Market Over? with James Check
Alex Thorn talks with James Check (Checkonchain) about the state of the bitcoin market. Alex and James discuss insights derived from onchain bitcoin data, what it tells us about bitcoin holder behavior, and what needs to change to build a base and move higher once again. Alex also talks with Connor Finemore (Galaxy Trading) about tariffs, treasuries, and trade wars.This episode was recorded on Wednesday, April 9, 2025.++Follow us on Twitter, @glxyresearch, and read our research at www.galaxy.com/research/ to learn more! This podcast, and the information contained herein, has been provided to you by Galaxy Digital Holdings LP and its affiliates (“Galaxy Digital”) solely for informational purposes. View the full disclaimer at www.galaxy.com/disclaimer-galaxy-brains-podcast/

Apr 3, 2025 • 55min
Kraken’s View of the Crypto World w/ Arjun Sethi
Arjun Sethi, Co-CEO of Kraken and General Partner at Tribe Capital, joins Bimnet Abebe from Galaxy Trading to dive into the dynamic world of cryptocurrency. They discuss the evolution of the U.S. banking system and the influence of regulatory shifts on Bitcoin prices. The conversation touches on Kraken's commitment to security, the rise of tokenized equities, and the merging of traditional and decentralized finance. Additionally, they explore the importance of trust and transparency in the crypto industry, highlighting innovative strategies to enhance customer experiences.

Mar 27, 2025 • 53min
Future of Institutional Crypto Trading w/ Anton Katz
Alex Thorn talks with Anton Katz (Talos) about institutional crypto trading, adoption, and technology. Alex also talks with Connor Finemore (Galaxy Trading) about markets.This episode was recorded on Wednesday, March 19, 2025.++Follow us on Twitter, @glxyresearch, and read our research at www.galaxy.com/research/ to learn more! This podcast, and the information contained herein, has been provided to you by Galaxy Digital Holdings LP and its affiliates (“Galaxy Digital”) solely for informational purposes. View the full disclaimer at www.galaxy.com/disclaimer-galaxy-brains-podcast/

Mar 20, 2025 • 54min
Future of Bitcoin Adoption w/ Preston Pysh
Preston Pysh, host of the Bitcoin Fundamentals podcast and GP at Ego Death Capital, discusses the strategic Bitcoin reserve and its role in institutional adoption. He delves into the complex landscape of macroeconomic factors affecting Bitcoin's future, including the impact of a $7 trillion debt and fluctuating dollar value. Joined by Beimnet Abebe from Galaxy Trading, they analyze market dynamics influenced by Federal Reserve policies and the implications for investors. The conversation highlights Bitcoin and stablecoins' evolving roles in the U.S. financial system.