Galaxy and SharpLink launch $125 million DeFi fund, increasing on chain revenue strategy Odaily Planet Daily News: Galaxy, a cryptocurrency finance company founded by billionaire Mike Novogratz, announced that it will jointly launch a $125 million DeFi fund called "Galaxy SharpLink Onchain Yield Fund" with Ethereum vault company SharpLink, focusing on high-yield strategies such as on chain lending and liquidity provision. The fund is expected to go online in the coming weeks, with SharpLink contributing $100 million from its ETH reserves and Galaxy contributing $25 million, with Galaxy serving as the exclusive fund manager responsible for protocol selection, position allocation, and risk management. SharpLink CEO、 Joseph Chalom, former head of digital asset strategy at BlackRock, stated that the company's goal is to continuously improve ETH asset productivity. At present, SharpLink holds approximately $2.1 billion in ETH reserves, all of which have been used for staking and deployed on platforms such as Linea, Ether.fi, and Liquid Collective. Since June 2025, it has accumulated approximately $44.6 million in profits. As the annualized yield of ETH staking remains around 2.5% -3.5%, some cryptocurrency vault companies are seeking higher yielding DeFi strategies, including on chain lending and liquidity market making. These strategies typically have annualized returns exceeding 10%, but also significantly increase risk. Recently, DeFi security incidents have occurred frequently. In April, the Solana ecosystem derivative protocol Drift Protocol was attacked by North Korean hackers, resulting in a loss of approximately $285 million; Subsequently, the cross chain bridge vulnerability of Kelp DAO resulted in the theft of approximately $292 million in rsETH, further highlighting the security risks behind high-yield DeFi strategies. (Forbes)