[Galaxy to Establish Entity in Abu Dhabi to Accelerate Expansion in the Middle East Market] Odaily Planet Daily News: Digital asset management and infrastructure company Galaxy has announced plans to establish an entity in the Abu Dhabi Global Market (ADGM) and open a local office to deepen its business presence in the Middle East region. Galaxy founder and CEO Mike Novogratz stated that this move aims to expand the company’s existing partnerships and operational scope. Galaxy Managing Director Bouchra Darwazah highlighted that the Middle East has become one of the fastest-growing financial hubs globally, with highly sophisticated investors and innovators, making it a key region for Galaxy’s investors, clients, and portfolio companies. It is reported that Galaxy achieved a net profit of $505 million in the third quarter of 2025, with shareholders’ equity reaching $3.2 billion, and it remains active in the crypto investment space. This includes participating in the $1.65 billion Solana Treasury Fund alongside Cantor Fitzgerald, Multicoin Capital, and Jump Crypto. Over the past year, multiple crypto companies have obtained regulatory approval to enter the Middle Eastern market, including exchanges such as Binance and Bybit. Stablecoin issuers have also continued to receive approvals. Recently, Tether’s USDT was recognized in Abu Dhabi as a “fiat-backed token,” and Circle obtained a financial services license to operate its USDC stablecoin locally. (Cointelegraph)