Galaxy Reveals $76 Million Exposure To FTX Exchange, Contagion Spreads
Investment firm Galaxy Digital has been affected by the consequences of the “crypto exchange wars” between FTX and Binance. The former platform entered into a non-binding agreement with Binance to potentially sell its assets except for FTX.US. Related Reading: Mark Zuckerberg’s Meta Lays Off 11,000 Employees The crypto exchanges struck the deal as FTX faced […]
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Following the issues surrounding FTX, the publicly-listed firm Galaxy Digital published its third-quarter earnings report and noted it has an “exposure of approximately $76.8 million of cash and digital assets to FTX.” The news follows a great number of exchange executives announcing that they had zero material exposure to the troubled exchange. Galaxy Digital Has Close to $77 Million in FTX Exposure After Galaxy Digital was dealt with a blow from the Terra blockchain fallout and UST depegging event, the company has revealed exposure to the embattled crypto exchange FTX. It started on Nov.....
The exposure amounts represents a small fraction of the firm's $1.5 billion in liquidity. In its latest quarterly earnings call on Nov. 9, blockchain financial services firm Galaxy Digital disclosed that it had an exposure of $76.8 million consisting of cash and digital assets to troubled cryptocurrency exchange FTX. Of this amount, Galaxy Digital said that $47.5 million are currently in the withdrawal process.The day prior, FTX announced it had halted all withdrawals after the combination of a consumer bank run and a devastating price decline in its native FTT token, which the exchange....
Galaxy Digital Holdings Ltd. has revealed the firm is looking to raise $500 million in an exchangeable senior note offering. The investment company, founded by billionaire investor Mike Novogratz in January 2018, aims to use the funds to “accelerate growth initiatives across its business lines.”
Galaxy Reveals Exchangeable Senior Note Offering
The investment firm Galaxy Digital (TSX: GLXY) aims to raise $500 million via an exchangeable senior note offering. The convertible debt will be used to continue expanding the business. Galaxy details that the private....
The investment company Galaxy Digital Holdings has revealed it is joining the growing list of firms looking to sponsor a bitcoin exchange-traded fund (ETF). Novogratz’s crypto firm applied with the U.S. Securities Exchange Commission (SEC) on Monday to launch a product called the “Galaxy Bitcoin ETF.” Galaxy Digital Wants to Provide a Bitcoin ETF Galaxy Digital Holdings (TSX: GLXY) filed a Form S-1 registration with the SEC on Monday in order to get approval for a new bitcoin ETF. The “Galaxy Bitcoin ETF” filing was submitted on April 12, 2021, and joins the....
As contagion spreads, FTX loans out hundreds of millions to two of the largest yield-generating shops in the space. What does this mean for BlockFi and Voyager?