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You are here: Home / Bitcoin Industry News / Bitcoin Adoption News: Top Win Rebrands, Steak N Shake Accepts BTC, Galaxy’s Nasdaq Debut

May 16, 2025

Bitcoin Adoption News: Top Win Rebrands, Steak N Shake Accepts BTC, Galaxy’s Nasdaq Debut

Galaxy Digital (GLXY) just debuted on the Nasdaq, but it appears the financial services company’s listing will be jostling for the attention of the crypto sphere’s hive mind.

Crypto X — still widely known as Crypto Twitter (CT) despite the platform’s name change — was abuzz with users sharing news of fast food company Steak n’ Shake starting to accept bitcoin BTC payments over the Lightning network, having announced its plans to do so a week ago.

A video posted on the social-media platform shows a customer completing an order at a self-service machine, choosing the “Pay With Bitcoin” option and scanning the QR code with their Lightning wallet in the Zeus app.

Another company raising the bitcoin flag is Top Win International (TOPW), a luxury watch wholesaler, which said it will change its name to AsiaStrategy and manage its treasury in digital assets. It is, in effect, following the model of Michael Saylor’s software company Strategy (MSTR), which now owns 568,840 BTC, more than 2.5% of all the bitcoin that will ever exist.

Hong Kong-based Top Win is partnering with crypto-backed venture capital firm Sora for its new pivot. Shares of the company rose as much as 45% before losing the gains to trade down 31% at $5.14.

Sora previously worked with Tokyo-based Metaplanet (3350), another company copying the Strategy model.

Galaxy’s Nasdaq Debut

Galaxy, the Toronto-based crypto-focused financial services firm led by Mike Novogratz, has commenced trading on Nasdaq Global Select Market.

Novogratz, who described the listing as a “pivotal moment” for Galaxy in a letter shared via email, rang the opening bell on the Nasdaq floor on Friday.

Galaxy announced its plans at the end of last month, in which it also said GLXY would remain listed on the Toronto Stock Exchange (TSX) “for a period of time following [its] intended listing on Nasdaq.”

GLXY shares traded at around $22.61 in early trading, 3.2% higher on the day. The Toronto-traded shares rose 2.98% to C$31.48 ($22.53).

Author: Jamie Crawley

Filed Under: Bitcoin Industry News

Expert Witness

Ty Sagalow head shotTy Sagalow's unique background in legal, underwriting, policy drafting and claims – and his designation as a “qualified insurance expert” by the United States District Court for the Southern District of California – offers attorneys an unparalleled resource in D&O, E&O and Cyber insurance coverage disputes. He was also named "Most Helpful Expert" in a recent $8.7M coverage decision.

Mr. Sagalow served as Chief Underwriting Officer and General Counsel for AIG Executive Liability (formerly National Union Fire Insurance Company of Pittsburgh, PA), the world’s largest carrier of Directors and Officers Liability and Professional Liability Insurance. As General Counsel, Mr. Sagalow personally wrote or led teams that wrote all the D&O policies and many of the professional liability policies that AIG produced between 1988 and 2000 – policies which continue to serve as the foundational wording for the D&O and professional liability policies in the market today. As AIG Executive Liability’s Chief Underwriting Officer, Mr. Sagalow was charged with all underwriting interpretations and decisions for AIG D&O/E&O policies. In 2009, Mr. Sagalow headed up the team that rewrote all D&O policies for Zurich North America.

Ty is a cum laude graduate of Georgetown University Law Center and holds a LLM from New York University School of Law.

Bitcoin Insurance

Combining his talents as a network security insurance expert and an insurance product development expert, Ty Sagalow is the leading expert on the unique risk and insurance needs of the bitcoin industry.

With the successful sale of BitSecure(tm), the first bitcoin theft insurance policy in February of 2015, he is the first to create a sustainable, robust insurance policy to cover the theft of bitcoins and other virtual currency backed by an A-Rated, global “top 10” Property and Casualty insurance company.

Company Profile

Innovation Insurance Group is an insurance consulting firm and insurance brokerage founded by 30-year insurance executive, Ty R. Sagalow, former Chief Underwriting Officer, General Counsel and Chief Innovation Officer at AIG, and former Chief Innovation Officer at Zurich, NA and Tower Group. IIG focuses on three core practice groups: product development, expert witness services (primarily in the Management and Professional Liability areas), and bitcoin industry brokerage services.

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