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.