Galaxy Digital Rakes In $517M During Q3

• Cryptocurrency investment firm Galaxy Digital ($GLXY) has reported a net income of $517 million during Q3 2021, a 1,146% increase from the reported $41.5 million made in Q3 2020.

• The firm has ventured into a variety of areas in the crypto space, including decentralized finance (DeFI) and non-fungible tokens (NFTs). Galaxy has positioned $62 million into 22 different NFT companies and has also directly purchased two NFTs from notable collections.

• Galaxy’s trading business makes up the bulk of their income during Q3. Their trading desk accounted for $360.7 million of the $517 million made during the time period.

• Mike Novogratz, founder of Galaxy Digital, stated that “year-to-date through November 12th we have provided shareholders with approximately $1.6 billion in net comprehensive income, on the back of our strong operational and investing portfolio growth. We look forward to our U.S. listing and the close of our BitGo acquisition, which we now expect will occur in the first quarter 2022.”

• The firm’s reported assets under management equate to $3.2 billion as of October 31st, 2021.