Galaxy Digital releases Q1 financial report with a net loss of US$295 million and is expected to be listed on Nasdaq on May 16

Odaily Planet Daily News Galaxy Digital announced that it has completed the reorganization of its legal registration from the Cayman Islands to Delaware, USA. The move is part of the company's preparation for its planned listing on the Nasdaq Global Market on May 16, with the stock code expected to be GLXY. At the same time, Galaxy Digital announced its first quarter financial report as of March 31, 2025, recording a net loss of US$295 million, a sharp reversal from the net profit in the previous quarter. The company said the loss was mainly due to the decline in digital asset prices during the period and the closure of the Helios data center mining business. The company's asset management scale fell 29% month-on-month to US$7 billion at the end of the quarter. The company currently holds US$1.1 billion in cash and stablecoins and US$1.9 billion in equity. (The Block)