Galaxy Digital Provides Updated Trading Results and CEO Views Amidst Cryptocurrency Market Volatility

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Galaxy Digital Provides Updated Trading Results and CEO Views Amidst Cryptocurrency Market Volatility

Canada NewsWire

NEW YORK, May 19, 2021 /CNW/ - Galaxy Digital Holdings Ltd. (TSX: GLXY) ("Galaxy Digital" or the "Company") today is providing an update on certain operational metrics related to its Galaxy Digital Trading ("GDT") business over the last 24 hours. This update is intended to provide visibility to shareholders, counterparties, and clients regarding GDT's operational resilience during the recent period of significant volatility in digital asset prices.

Key operational highlights for Galaxy Digital Trading over the last 24 hours ended 4pm May 19th, 2021:

  • While processing record volumes, GDT experienced no operational or execution-related disruptions.
  • Over-the-counter ("OTC") counterparty trading volumes were in excess of six times greater than the daily average volumes year to date through April 30th, 2021.
  • The GDT counterparty loan portfolio experienced zero defaults, is operating with an average collateralization of over 160%, and has no outstanding margin calls.

Additionally, Founder, Chairman and CEO Michael Novogratz shared his macroeconomic views on the market volatility in a short video, which can be viewed on our Investor Relations website: https://investor.galaxydigital.io.

The Company cautions that the data in this press release is preliminary, unaudited, and subject to change as management completes its regular course independent audit or review of company results for regularly scheduled shareholder updates. Further, the Company may elect to provide different key operating and financial metrics in the future, given its evolving business mix. The Company undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. 

About Galaxy Digital

Galaxy Digital (TSX: GLXY) is a diversified financial services and investment management company in the digital asset, cryptocurrency, and blockchain technology sectors. Galaxy Digital's team has extensive experience spanning investing, portfolio management, capital markets, venture capital, asset management, and blockchain technology. Galaxy Digital operates in the following businesses: Trading, Asset Management, Principal Investments, Investment Banking, and Mining. Galaxy Digital's CEO and Founder is Mike Novogratz. The Company is headquartered in New York City, with offices in Chicago, San Francisco, London, Tokyo, Hong Kong, the Cayman Islands (registered office), and New Jersey. Additional information about the Company's businesses and products is available on www.galaxydigital.io.

Disclaimers

The TSX has neither approved nor disapproved the contents of this press release.

The Company listed on the TSX via TSX Sandbox, an initiative intended to facilitate listing applications that may not satisfy the original listing requirements of TSX, but due to facts or situations unique to a particular issuer otherwise warrant a listing on TSX. The TSX has exercised its discretion to waive the requirements of subsection 309(c)(i) of its manual (C$10 million in treasury resulting from public raise) which the Company did not meet and has approved the listing of the Company pursuant to TSX Sandbox. The Company's approval pursuant to TSX Sandbox was conditioned upon public filing of an Annual Information Form and prominent quarterly disclosure of digital assets and investments, which the Company has completed and agreed to continue to provide. The Company will remain listed pursuant to TSX Sandbox until such time as it has completed a twelve-month period without significant compliance issues after graduation. In addition, the Company is required to disclose the following two risk factors that were also included in the most recent Annual Information Form for the year-ended 2020: (1) The Company has limited operating history and its business lines are nascent and subject to material legal, regulatory, operational and other risks in every jurisdiction; and (2) the market price and trading volume of the Company's ordinary shares has been volatile and will likely continue to be so in response to, among other factors, market fluctuations in digital assets generally or the digital assets that the Company holds or trades.

No offering is being made by this material. This communication is provided as a general source of information and should not be considered personal, legal, accounting, tax, or investment advice, or construed as an endorsement or recommendation of any entity or security discussed. Individuals should seek the advice of professionals, as appropriate, regarding any particular investment. Investors should consult their professional advisors prior to implementing any changes to their investment strategies.

SOURCE Galaxy Digital Holdings Ltd.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2021/19/c5947.html

Copyright CNW Group 2021

Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).