Galaxy Digital Q3 Profit Surges on Trading Boom

Galaxy Digital reported a substantial net income of $505 million for the third quarter ending September 30, driven by a 140% increase in trading volumes, primarily from institutional activity in the crypto markets. Adjusted earnings reached $629 million, bolstered by significant results in digital asset operations and investment gains. The firm concluded the quarter with $3.2 billion in equity, including $1.9 billion in cash and stablecoins. During this period, a prominent trade involved the sale of over 80,000 Bitcoin, one of the largest trades recorded. Galaxy is also expanding into data center and high-performance computing infrastructures, particularly through its Helios campus in Texas. Although Bitcoin remained stable, Ether surged, contributing to the overall growth of the global crypto market, which added $563 billion in value this quarter. As Galaxy continues to explore strategic partnerships, it plans to engage in a $1.65 billion fundraising with institutional partners. Overall, the strong earnings reflect continued institutional interest in crypto financial services.

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