Crypto Research, Digital Assets, and Markets by Alex Thorn
Alex Thorn is Head of Firmwide Research at Galaxy Digital, overseeing a team analyzing cryptocurrency markets, tech developments, and institutional flows.([turn0search13], [turn0search18]) Previous positions include Director of Blockchain Research and co-manager of Avon Ventures, the early-stage crypto venture fund affiliated with Fidelity.([turn0search13]) Prior contributions span legal, compliance, and venture investing roles across a decade at Fidelity Investments.
Public commentary includes regular Galaxy Research pieces, weekly Galaxy Brains podcast with rap intro sequences, and video/TV appearances on platforms like Bankless and Al Jazeera.([turn0search23]) Podcast downloads regularly number in the thousands per episode across Apple, Spotify, and YouTube. Annual compensation—combining research leadership, media activity, and advisory—is estimated in the low seven-figure USD range. With deep institutional research experience and public-facing presence, Thorn stands out across both strategy and culture within crypto media.
Alex Thorn: Bitcoin returns driven by Asia trading hours in late October
In the second half of October, bitcoin returns have been influenced by trading during Asia hours, while Europe has exerted a dragging effect. This assessment was shared by Alex ...
Bitcoin faced weakness in October due to low treasury company buying and ETF outflows, Alex Thorn notes
Weak treasury company purchasing activity and ETF outflows contributed to bitcoin’s weakness in October. Alex Thorn described a metric measuring Institutional Absorption versus OG Distribution ...
Alex Thorn: Bitcoin genesis block puzzle solved using weak entropy in a multisig setup
A puzzle known as the “genesis block puzzle” has been solved after someone created a 2-of-2 multisig wallet using weak entropy derived from data in Satoshi’s original bitcoin genesis block, ...
Most bitcoin remains in self-custody despite institutionalization, Alex Thorn notes
More than half of all bitcoin (BTC) supply is currently in addresses with no known attribution. Alex Thorn stated that despite the growth of institutional involvement and centralized ownership ...
Alex Thorn: Build open money and intelligence to preserve freedom
Alex Thorn stated that open money and open intelligence should be developed with the goal of maintaining freedom. He referenced an edited version of his recent speech at the Bitcoin Policy ...
Losses from Ledger supply chain attack reach $17.7 million, Alex Thorn notes
Alex Thorn is tracing the impact of a recent supply chain attack related to Ledger's CryptoBilliS. According to Thorn, the bitcoin portion of funds stolen in the incident amounts to 213.42 BTC, ...
Alex Thorn: U.S. government bitcoin holdings tracked for January 2025 and October 2026
Alex Thorn shares details on the U.S. government’s bitcoin holdings. According to the information provided, the government held 332,699 BTC (valued at $34.1 billion) as of January 20, 2025, and ...
It is a good day to reflect on Bitcoin in Korea, Alex Thorn notes
Alex Thorn shares a morning greeting from South Korea and remarks that it is a good day to think about Bitcoin. The tweet highlights the relevance of Bitcoin discussion within the Korean ...
Alex Thorn: Seeks recommendations for top Bitcoin spots in Seoul
Alex Thorn is currently visiting Seoul and is reaching out to the local Bitcoin community for suggestions on notable Bitcoin-related spots to visit. Thorn also asks if there are community hubs ...
Bitcoin history shown by UTXO price distribution, Alex Thorn notes
Alex Thorn shares a short video that depicts the history of bitcoin through its UTXO realized price distribution (URPD). The post presents an overview of every bitcoin by the price at which it ...
Alex Thorn: Coldcard wallet users report 1,830 BTC stolen amid wave of seed-entropy thefts
Alex Thorn reports a significant security incident involving Coldcard wallets, where 1,830 BTC have been stolen through a series of seed-entropy thefts. According to Thorn, the attacks occurred in ...
AI-generated video covers bitcoin timeline based on local data, Alex Thorn notes
Alex Thorn shared that he asked the AI model opus 5.5 to create a three-minute video about the history of bitcoin. He instructed Claude to utilize data from his local 1.8 terabyte Postgres ...
Alex Thorn: BTC sees increased on-chain movement in $83.6k to $84.8k price range
Alex Thorn highlights that BTC is consolidating as more coins have shifted on-chain within the $83.6k to $84.8k price range than in any other band. This suggests heightened on-chain activity at ...
Ban now prohibits all significant digital asset interests, Alex Thorn notes
Alex Thorn outlines recent changes to a ban involving digital assets. Previously, the ban applied to issuing or sponsoring a digital asset for money, while still allowing officials to hold digital ...
Alex Thorn: Silvergate CEO confirms voluntary closure after intense bank run and political pressure
Alex Thorn reports that the CEO of Silvergate has confirmed the bank closed voluntarily after enduring a severe bank run. According to the statement, the decision followed intense political ...
Hackers send 3400 BTC back to original address, Alex Thorn reveals
Alex Thorn reports that hackers targeting the Liquid Federation blockchain have returned 3400 BTC, or about 85% of the assets initially stolen, following extended dialogue with Blockstream through ...
Alex Thorn: Liquid white hats plan to return most of 4000 BTC after bug fix
Alex Thorn reports that ethical hackers, referred to as 'liquid white hats,' intend to return most of the 4000 BTC involved after a bug on the Liquid Network is addressed. Communication between ...
Bitcoin wallet activated after 15 years shows $2 million percent return, Alex Thorn reveals
Alex Thorn reports that a bitcoin holder who had been inactive for more than 15 years has transferred coins to Coinbase. The long-dormant wallet achieved a $2 million percent gain before moving ...
Alex Thorn: Coldcard Wave 3 hacker moves stolen funds to ETH via THORChain
Alex Thorn reports that the exploiter behind the third wave of the Coldcard attacks has moved stolen funds on-chain for the first time. The hacker swapped the assets to ETH using the THORChain ...
Assistance for coldcard victims is forthcoming, Alex Thorn states
Alex Thorn has addressed individuals affected by coldcard issues who are waiting for assistance in tracing their funds. He acknowledged receiving a large number of reports and explained that he ...
Alex Thorn: Coldcard exploit impacts bitcoin culture and market dynamics
Alex Thorn discussed a recent exploit involving Coldcard, addressing its current impact as well as the response of those affected. He also examined what the incident could mean for bitcoin ...
