Galaxy Digital Inc-A 2026年季度报告

FORM 10-Q_________________________ (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period endedMarch 31, 2026 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from _______ to _______ Commission file number 001-42655_________________________ Galaxy Digital Inc.(Exact name of registrant as specified in its charter) _________________________ 87-0836313(I.R.S. EmployerIdentification No.) Delaware (State or other jurisdiction ofincorporation or organization) 300 Vesey StreetNew York, NY (212) 390-9216Registrant’s telephone number, including area code Securities registered pursuant to Section 12(b) of the Act: Securities registered pursuant to Section 12(g) of the Act: None. Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities ExchangeAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) hasbeen subject to such filing requirements for the past 90 days. YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant wasrequired to submit such files). YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reportingcompany,” and "emerging growth company" in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YesNo☒ As of May5, 2026, the number of shares of the registrant's Class A common stock outstanding was 191,491,823 and the number of shares of theregistrant's Class B common stock outstanding was 198,408,277. TABLE OF CONTENTS Part I - Financial Information PageItem 1. Financial Statements7Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations48Item 3. Quantitative and Qualitative Disclosures About Market Risk62Item 4. Controls and Procedures64Part II - Other InformationItem 1. Legal Proceedings65Item 1A. Risk Factors65Item 2. Unregistered Sales of Equity Securities and Use of Proceeds132Item 3. Defaults Upon Senior Securities133Item 4. Mine Safety Disclosures133Item 5. Other Information133Item 6. Exhibits134Signatures135 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements. All statements contained in this Quarterly Report on Form10-Q other than statements of historical fact, including statements regarding our future operating results and financial position, ourbusiness strategy and plans, market growth, and our objectives for future operations, are forward-looking statements. In some cases,forward-looking statements may be identified by words such as “believe,” “may,” “will,” “estimate,” “potential,” “continue,” “anticipate,”“intend,” “expect,” “could,” “would,” “project,” “plan,” “target,” or the negative of these terms or other similar expressions. We caution you that the foregoing list may not contain all of the forward-looking statements made in this Quarterly Report on Form10-Q. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions, including those described in thesection titled “Risk Factors” in Part II, Item 1A of this Quarterly Report on Form 10-Q. Moreover, we operate in a very competitive andrapidly changing environment, and new risks emerge from time to time. It is not possible for our management to predict all risks, nor canwe assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results todiffer materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties, andassumptions, the future events and trends discussed in this Quarterly Report on Form 10-Q may not occur and actual results could differmaterially and adversely from those anticipated or implied in the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. The events and circumstances reflected in theforward-looking statements may not be achieved or occur. Although we believe that the expectations reflected in the forward-