Galaxy Digital released its Q1 financial report with a net loss of $295 million, expected to go public on Nasdaq on May 16

ChainCatcher news, according to The Block, Galaxy Digital announced that it has completed the restructuring to move its legal registration from the Cayman Islands to Delaware, USA. This migration is part of the company's preparations for its planned listing on the Nasdaq Global Market on May 16, with the stock ticker expected to be GLXY.
At the same time, Galaxy Digital released its first-quarter financial report for the period ending March 31, 2025, reporting a net loss of $295 million, a significant reversal compared to the net profit of the previous quarter. The company stated that the loss was primarily due to the decline in digital asset prices during the period, as well as a $57 million impairment charge and disposal costs related to the shutdown of the Helios data center mining business.

As of the end of the quarter, the company's assets under management decreased by 29% to $7 billion. The company currently holds $1.1 billion in cash and stablecoins, as well as $1.9 billion in equity.