Galaxy Digital Has Strong Momentum Across All Business Lines: Canaccord
Summary
Galaxy Digital's Q1 results showed a 40% increase in net income to $422 million. The company's three operating units are expected to grow and mature in the coming quarters. Galaxy Trading's total counterparties grew to 1,161, with a 79% increase in counterparty trading revenue. GalaxyOne has over 75 institutional clients and $1 billion in assets. The asset-management business saw a 50% increase in assets under management to $7.8 billion. The firm also expanded its infrastructure and GK8 business, with a buy rating and C$17 price target from Canaccord Genuity.
