Investor Relations Galaxy Ventures Galaxy Interactive Invest in Digital Assets Explore Solutions Asset Management & Infrastructure Explore Insights The State of Crypto Leverage – Q4 2025: Surviving a Stress Test The Agentic Flywheel: How Zero-Human Companies Will Reshape Onchain Markets Crypto's Next Meta: Social Trading and Internet Finance Leverage digital assets in a secure manner with Galaxy’s regulated lending institution and white-glove support. Galaxy provides customized wholesale digital lending solutions for qualifying institutions, accredited individuals, and corporations. Whether you're financing a new venture, managing debt, or looking for long-term investment capital, Galaxy’s Crypto Lending and Trading Desk offers tailored solutions for your specific needs. Onchain Financing The Galaxy Onchain Financing Rate (GOFR) is a single, continuously rebalanced rate across Aave, Morpho, Spark, and more — delivered through Galaxy’s institutional platform with integrated risk management and operational support. View Indicative Rates Onchain Financing The Galaxy Onchain Financing Rate (GOFR) is a single, continuously rebalanced rate across Aave, Morpho, Spark, and more — delivered through Galaxy’s institutional platform with integrated risk management and operational support. View Indicative Rates View Indicative Rates Margin Lending Collateralized financing solutions secured by digital asset or fiat holdings and tailored to specific needs. Collateralized financing solutions secured by digital asset or fiat holdings and tailored to specific needs. Collar Loans Structured product pairing a loan with a derivative risk management solution. Allows for flexible non-recourse financing, competitive interest rates, and no margin calls. Structured product pairing a loan with a derivative risk management solution. Allows for flexible non-recourse financing, competitive interest rates, and no margin calls. Miner Financing In partnership with Galaxy Mining, Galaxy Lending provides customized debt capital financing for bitcoin miners, typically secured by miner treasuries as well as site and infrastructure assets. Miner Financing In partnership with Galaxy Mining, Galaxy Lending provides customized debt capital financing for bitcoin miners, typically secured by miner treasuries as well as site and infrastructure assets. Leverage Amplified potential for increased profits, offering enhanced upside exposure. Amplified potential for increased profits, offering enhanced upside exposure. Treasury Management/Yield Generation Generate in-kind yield on existing positions by lending to Galaxy. Treasury Management/Yield Generation Generate in-kind yield on existing positions by lending to Galaxy. Hedging Solutions Customized hedging strategies to meet specific goals. Hedging Solutions Customized hedging strategies to meet specific goals. Instant Liquidity Bespoke credit agreements to help meet short-term financing needs leveraging staked assets.

Instant Liquidity Bespoke credit agreements to help meet short-term financing needs leveraging staked assets. Lending as a Service Collateralized Loan Obligation (CLO)—Driving access to fully secured debt markets to diversify and distribute risk. Lending as a Service Collateralized Loan Obligation (CLO)—Driving access to fully secured debt markets to diversify and distribute risk. The Institutional Guide to Onchain Financing This report examines the evolution of onchain credit markets, key operational and risk considerations, and the frameworks institutions can use to evaluate and participate in DeFi lending with greater confidence. Perspectives • June 09, 2026 Strategy’s BTC Sale, DeFi Recovery & Tokenized RWAs DeFi Lending Markets & Macro Tokenization Perspectives • June 09, 2026 Strategy’s BTC Sale, DeFi Recovery & Tokenized RWAs Markets & Macro Research • May 21, 2026 The State of Crypto Leverage – Q1 2026: DeFi Exploits, Price Declines, and Capital Flight Cryptocurrency DeFi Ethereum Lending Research • May 21, 2026 The State of Crypto Leverage – Q1 2026: DeFi Exploits, Price Declines, and Capital Flight Perspectives • March 19, 2026 Onchain Credit and Crypto Lending Trends Lending Markets & Macro Perspectives • March 19, 2026 Onchain Credit and Crypto Lending Trends Markets & Macro Research • March 06, 2026 The State of Crypto Leverage – Q4 2025: Surviving a Stress Test Bitcoin Cryptocurrency DeFi Ethereum Lending Research • March 06, 2026 The State of Crypto Leverage – Q4 2025: Surviving a Stress Test As one of the few desks dedicated to publishing regular, focused updates on the crypto lending market, our insights are invaluable for industry participants seeking to stay ahead of the curve. From market observations and industry trends to detailed on-chain analytics and product spotlights, our team offers a comprehensive and specialized perspective. The trusted partner for crypto lending 2022 left the industry shaken and exposed. With solid risk management and a focus on transparency, Galaxy stood strong, guiding clients through the storm. Bespoke lending solutions with a white glove, tailored approach. 24/7/365 market access through global sales and trading coverage. Flexible structuring, collateral types, pricing, and loan tenors. Ongoing opportunities to roll, restructure, and modify positions. Reliable and cost-effective lending and borrowing terms. Expertise navigating market volatility and risk considerations. Galaxy’s Institutional Lending Desk offers tailored solutions for institutional investors, trading firms, hedge funds, and others. Connect with our team to learn how Galaxy can help you meet your goals. You are leaving Galaxy.com You are leaving the Galaxy website and being directed to an external third-party website that we think might be of interest to you. Third-party websites are not under the control of Galaxy, and Galaxy is not responsible for the accuracy or completeness of the contents or the proper operation of any linked site. Please note the security and privacy policies on third-party websites differ from Galaxy policies, please read third-party privacy and security policies closely. If you do not wish to continue to the third-party site, click “Cancel”. The inclusion of any linked website does not imply Galaxy’s endorsement or adoption of the statements therein and is only provided for your convenience.