Odaily News Galaxy Digital announced that it has completed its restructuring to move its legal domicile from the Cayman Islands to Delaware, USA. The move is part of the company’s preparations for its planned listing on the Nasdaq Global Market on May 16, with the stock code expected to be GLXY.
Meanwhile, Galaxy Digital reported a net loss of $295 million for the first quarter ended March 31, 2025, a sharp reversal from the previous quarter's net profit. The company said the loss was mainly due to the decline in digital asset prices during the period and $57 million in impairment charges and disposal costs related to the closure of the Helios data center mining business.
As of the end of the quarter, the company's assets under management fell 29% month-on-month to $7 billion. The company currently holds $1.1 billion in cash and stablecoins and $1.9 billion in equity. (The Block)