Galaxy Digital, one of the largest crypto financial services firms on the market, released its financial results for the third quarter of the year.
The report revealed that the company has an exposure of approximately $76.8 million in cash and cryptocurrencies to FTX. Out of the $76.8 million, $47.5 million is currently “in the withdrawal process,” the company said in the report.
No further information was revealed about the remaining $29.3 million. It is also unclear how long the withdrawal process will take and whether the company will be able to complete it.
The company saw a net comprehensive loss of $68.1 million in the third quarter, compared to the $517.9 million gain it saw in the third quarter of last year. However, the total capital of Galaxy Digital Holdings stood at $1.8 billion at the end of the quarter.
Michael Novogratz, the founder and CEO of Galaxy Digital, said that the company’s reserves make it well-positioned to take on any upcoming volatility.
“Retaining
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