Mike Novogratz’s Galaxy Digital will take over the technical development of Liquid Collective after acquiring Alluvial Finance, the software firm that previously built and maintained the platform, according to a press release shared with The Defiant.

Liquid Collective is a liquid staking platform for institutions that want to stake Ethereum (ETH) or Solana (SOL) while keeping those assets usable for trading.

“Galaxy has always built the infrastructure institutions need to operate confidently onchain — from trading and custody to lending and staking. Becoming Liquid Collective’s Development Company is a natural extension of that mission,” said Michael Novogratz, founder and CEO of Galaxy, in the release.

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