Search Results for: GLXY

Bankrupt crypto exchange FTX, now overseen by restructuring expert John Ray III, plans to initiate staking and hedging sales for its vast $3 billion crypto assets. FTX aims to avoid harming its asset value and intends to pay creditors in fiat currency, instead of bitcoin or ether. This strategy, requiring careful trading and the advisory support of Mike Novogratz’s Galaxy empire, awaits validation from Delaware’s bankruptcy court.

Galaxy Digital reports a net income of $134 million for Q1 2023, a significant improvement from previous losses, highlighting the recovering cryptocurrency market. With assets under management rising, the industry’s potential for sustainable growth relies on cautious optimism, learning from past fluctuations, and emphasizing oversight and transparency.