Galaxy Digital Announced Raising $500 M

Blockchain tech and crypto-focused financial services provider Galaxy Digital announced raising funds. The firm will contribute the amount to the growth of the crypto space.

Galaxy Digital intends to raise $500 M by selling five-year convertible notes in exchange for company stocks. As the company announced, the notes would bring holders 3% interest, and the maturity date will be in 2026.

The process will be managed through a private sale, seeking approval from the Toronto Stock Exchange, where Galaxy’s shares are traded.

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Galaxy Digital provides crypto services such as asset management, trading, investments, and cryptocurrency mining. Founded by ex-hedge fund manager Mike Novogratz in 2018, Galaxy Digital is one of the top crypto services providers.

The Q3 report of the company shows that its net income was $517 million. As of October 31, 2021, the firm held above $3.2 bln in Assets Under Management.

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The numbers indicate the rapid growth.

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