Galaxy Digital Reveals $77 Million Exposure to FTX in Q3 Earnings

Galaxy Digital has a $76.8 million exposure to FTX, of which $47.5 million is currently "in the withdrawal process," the company said in its third quarter earnings report.

The company reported a net loss of $68 million in the third quarter, and assets under management of nearly $2 billion, up 17% from the previous period. And the losses were driven by "reduced valuations on certain investments due to external market conditions," and the increased operating expense for its mining business due to impairments in mining assets. The company retained $1.5 billion in liquidity and $1 billion in cash.