Galaxy Digital Plans to Move to Delaware and List in the US

According to reports, Galaxy Digital, which is listed on the Toronto Stock Exchange, plans to reorganize into a Delaware registered company and list in the United States after completing the review by the Securities and Exchange Commission (SEC). The document states that Galaxy’s most recent amended registration document was submitted to the SEC in February 2023 and is currently under review. Market data shows that Galaxy’s stock price has risen by about 1% so far this year, but has fallen by 86% in the past 12 months.

Galaxy Digital still hopes to be listed in the United States, and the SEC is under review

Galaxy Digital, a company listed on the Toronto Stock Exchange, has recently made a move to reorganize as a Delaware registered company and plans to list in the United States after completing a review by the Securities and Exchange Commission (SEC). The document also notes that Galaxy’s amended registration document had been submitted in February 2023, and it is currently under review.

Background

Galaxy Digital, founded in 2018 by billionaire Mike Novogratz, is a leading player in the cryptocurrency industry, offering services such as asset management, trading, and investment banking. According to the company’s website, they have “a comprehensive view of the industry and a nuanced understanding of complex technology,” which helps them navigate the market successfully.

Galaxy Digital’s Move

Citing the need for greater access to US capital, Galaxy Digital is looking to move to Delaware and list their company in the United States. By doing this, the company hopes to increase liquidity and access a larger pool of investors.
According to Market data, Galaxy’s stock price has risen about 1% so far this year, but it has fallen by 86% in the past twelve months.

Implications of the Move

Galaxy Digital’s move to Delaware and listing in the United States could have several implications for the company, investors, and the wider crypto industry. Firstly, it could lead to greater regulation, which could either stifle or enhance innovation and growth in the space.
Furthermore, with increased access to US capital, Galaxy Digital could potentially expand its operations and services. This could lead to more investment opportunities in the crypto industry, which could attract more investors and further legitimize the space.

Conclusion

Overall, Galaxy Digital’s move to reorganize and list as a Delaware registered company in the United States is an exciting development for the company and the crypto industry. If approved by the SEC, it could provide greater access to capital and lead to increased investment opportunities in the space. Only time will tell if this move will ultimately prove successful for Galaxy Digital and if it will have any broader implications for the crypto industry.

FAQs

Q: What is Galaxy Digital?

A: Galaxy Digital is a leading player in the cryptocurrency industry, offering services such as asset management, trading, and investment banking.

Q: Why is Galaxy Digital moving to Delaware and listing in the United States?

A: Galaxy Digital is moving to Delaware and listing in the United States to gain greater access to US capital, increase liquidity and access a larger pool of investors.

Q: What are the potential implications of this move?

A: Galaxy Digital’s move could lead to increased regulation and innovation in the crypto industry, while also providing more investment opportunities for investors.