Why Galaxy Digital Shares Are Soaring Today

Galaxy Digital Holdings Ltd.GLXY BRPHF provided a preliminary quarter-to-date company update.
Galaxy Digital has a liquidity position of ~C$1.6 billion, including C$800 million in cash and over C$800 million in net digital assets, with the majority of net digital assets in non-algorithmic stablecoins.
Galaxy Digital said it maintains a healthy capital and liquidity position, putting it in a good position for long-term growth.
It expects quarter-to-date net comprehensive income to be a loss of ~C$300 million, bringing Partners' Capital to C$2.2 billion, a decline of 12% versus March 31, 2022.
Overall, cryptocurrency market capitalization has dropped 40% since March 31, 2022.
The company plans to continue to invest in long term growth strategy while considering the current macroeconomic backdrop.
Galaxy Digital reconfirms the previously-stated commentary that Galaxy Digital Trading experienced no operational or execution-related disruptions.
Price Action: GLXY shares are trading higher by 16.06% at C$8.96 on TSX, and BRPHF is higher by 16.07% at $6.88 on the last check Friday.