Galaxy Digital reported higher quarterly profit as trading volumes increased 140%, reflecting stronger institutional activity in crypto markets.
Galaxy Digital reported strong third-quarter earnings results, driven primarily by higher trading activity and continued expansion in asset management, signaling steady institutional interest in crypto-focused financial services.
The company reported net income of $505 million for the quarter ending Sept. 30, with adjusted earnings of $629 million, boosted by record results in its digital asset operations and investment gains. Galaxy closed the quarter with $3.2 billion in equity, including $1.9 billion in cash and stablecoins.
Trading volumes jumped 140% from the previous quarter, fueled by increased spot and derivatives volumes. The quarter included the execution of a major client transaction involving the sale of more than 80,000 Bitcoin (BTC) — one of the largest crypto trades to date.
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