Core Viewpoint - Galaxy Digital has experienced a significant increase in its share price, rising over 20% in the past month, driven by optimism in the crypto sector, although analysts warn that the stock may be overvalued relative to its growth prospects [1][2]. Group 1: Stock Performance - Galaxy Digital's share price has surged approximately 21% in the past month and nearly 120% year-to-date, reflecting strong investor enthusiasm for digital-asset infrastructure and confidence in the crypto market recovery [2]. Group 2: Retail Expansion - The company has launched a new retail service called "GalaxyOne," shifting its focus from institutional clients to US consumers, offering services like high-yield cash accounts, crypto trading, and stock brokerage [3]. - This strategic pivot aims to diversify revenue streams and cater to retail investors seeking exposure to digital assets [3]. Group 3: Future Performance and Challenges - The retail expansion raises questions about the company's execution and profitability, with future performance dependent on balancing innovation, regulatory compliance, and operational efficiency in a rapidly changing market [4]. Group 4: Valuation Metrics - Analysts suggest that Galaxy Digital's valuation may have priced in much of its growth potential, with an estimated fair value of approximately $37.78 per share, indicating the stock may be modestly overvalued [5]. - On a price-to-sales (P/S) basis, Galaxy Digital trades at about 2.2×, which is lower than the peer average of roughly 2.8× and the broader US capital-markets benchmark near 4.0×, suggesting a valuation premium based on anticipated revenue growth and improving margins [6].

Core Insights - Galaxy Digital reported $505 million in profits for the third quarter, driven by a significant increase in assets on its platform, which reached a record $17 billion, up 70% quarter-over-quarter [1][2] - The firm's shares surged to $46 at market opening, reflecting an 8.3% increase on the day, with a third-quarter revenue of $28.4 million, marking a 231% increase year-over-year [2] - Trading volumes increased by 140% quarter-over-quarter, including a notable $9 billion notional Bitcoin sale facilitated by Galaxy earlier this year [2] Asset Management and Client Activity - Galaxy reported $9 billion in assets under management by the end of the third quarter, alongside $7 billion in "assets under stake" earning blockchain rewards [4] - The firm is benefiting from crypto treasury firms parking $4.5 billion in assets at Galaxy, expecting around $40 million in annual recurring fees from this activity [3] - The average loan book size increased to $1.8 billion, indicating enhanced client diversity [4] Product Offerings and Market Position - GalaxyOne, launched this month, allows customers to trade stocks and crypto in one platform, competing with retail-focused platforms like Robinhood and Coinbase [5] - The firm is also targeting accredited investors with high-yield cash products that are not universally available [5] - Galaxy remains on schedule to deliver power to AI cloud computing platform CoreWeave in the first half of next year, indicating its engagement in data center infrastructure [5] Analyst Insights - Analysts at Compass Point noted that Galaxy's earnings before interest and taxes exceeded Wall Street estimates by 236%, suggesting that the increase in assets will likely lead to higher investor forecasts [6]

2 GALAXY Investor.galaxy.com Q3 · 25 As of September 30, 2025 1 GALAXY Disclaimer This document, and the information contained herein, has been provided to you by Galaxy Digital Inc . and its affiliates ("Galaxy Digital" or "Galaxy") solely for informational purposes . This document may not be reproduced or redistributed in whole or in part, in any format, without the express written approval of Galaxy Digital .Neither the information, nor any opinion contained in this document, constitutes an offer to buy ...

Core Viewpoint - Galaxy Digital is launching a new banking platform named GalaxyOne, targeting everyday investors, led by Zac Prince, co-founder and former CEO of BlockFi, which previously filed for bankruptcy following the FTX collapse [1] Company Summary - Galaxy Digital is expanding its services by introducing GalaxyOne, a banking platform aimed at retail investors [1] - Zac Prince, who has a background in wealth management through BlockFi, is at the helm of this new initiative [1] Industry Summary - The launch of GalaxyOne reflects a growing trend in the cryptocurrency and banking sectors to attract everyday investors [1] - The move comes in the context of increased scrutiny and challenges faced by cryptocurrency platforms following significant market disruptions [1]

RT Mike Novogratz (@novogratz)Today, we launch GalaxyOne. The next step in bringing Galaxy’s institutional strength to individual investors. Proud of the team. Big things ahead as we expand our reach and unlock the next phase of growth. ...

Core Insights - Robinhood Markets has been a significant disruptor in the financial services market with its commission-free trading platform, but it now faces new competition from Galaxy Digital [1][3]. Company Developments - Galaxy Digital announced the launch of GalaxyOne, a fintech platform app that will offer retail investors commission-free stock trading, cryptocurrency trades, and cash deposit accounts [2][4]. - The GalaxyOne platform was developed from a company called Fierce, which Galaxy Digital acquired last year [5]. Competitive Landscape - Galaxy Digital is entering Robinhood's core market of stock trading, leveraging its background in blockchain and digital assets [3][6]. - Despite being smaller, with $9 billion in assets and 1,445 professional trading firms compared to Robinhood's $304 billion in assets and 26.7 million customers, Galaxy Digital aims to attract retail investors [6]. Financial Performance - In the second quarter, Galaxy Digital reported $9.05 billion in revenue, primarily from transaction expenses, with a net income of $30.5 million, equating to $0.08 per share [7]. - The company ended the quarter with $2.6 billion in equity capital [7]. Product Offerings - GalaxyOne will allow commission-free trading of over 2,000 U.S. stocks and exchange-traded funds, with fractional shares available for trades starting at $10 [9]. - Similar to Robinhood, GalaxyOne will enable retail investors to earn additional income by lending out their shares [9].

Core Insights - Robinhood Markets, Inc. (HOOD) is facing new competition from Galaxy Digital (GLXY), which has launched GalaxyOne, a retail investing app that integrates crypto trading, stock and ETF access, and high-yield cash accounts [1][10] Company Overview - GalaxyOne offers features such as an 8% annualized percentage yield (APY) for accredited investors and a 4% APY for all users through GalaxyOne Cash, positioning itself as a premium alternative to Robinhood's offerings [2][10] - Robinhood's current yield offerings stand at 3.75%, which may pressure the company to enhance its services to retain users [4][10] Competitive Landscape - The entry of GalaxyOne signifies a trend towards more sophisticated retail investing platforms that merge crypto and traditional finance [4] - Other competitors like Interactive Brokers (IBKR) and Charles Schwab (SCHW) are also expanding their product offerings to capture market share [6] - Interactive Brokers has introduced new features to help investors discover trading opportunities and expanded its product base into Europe [7] - Charles Schwab plans to open new branches and launch spot cryptocurrency trading services, indicating a focus on markets with rising wealth [8] Financial Performance - HOOD's transaction-based revenues have seen a compound annual growth rate of 36.7% over the last five years, driven by options and equities trading [5] - HOOD stock has surged 287.2% this year, significantly outperforming the industry average of 28.7% [9] - The company currently trades at a price-to-tangible book (P/TB) ratio of 17.49X, compared to the industry average of 3.02X, indicating a substantial premium [11] Earnings Estimates - The Zacks Consensus Estimate for Robinhood's earnings implies year-over-year growth of 58.7% for 2025 and 15.3% for 2026, with recent upward revisions of 7.5% and 4.7% for these years, respectively [12]

Core Insights - Galaxy Digital Inc. has launched a new platform called GalaxyOne, targeting retail investors and offering high yields on cash, cryptocurrency, and equities trading, positioning itself as a competitor to Robinhood Markets Inc. [3][4] Group 1: Company Developments - Anthony Scaramucci, founder of SkyBridge Capital, expressed pride in being a client of Galaxy Digital and congratulated CEO Mike Novogratz on the launch of GalaxyOne [2]. - GalaxyOne was initially developed under the name Fierce, which Galaxy Digital acquired in 2024 [3]. - Galaxy Digital provides a range of financial solutions within the digital assets ecosystem, including trading, asset management, venture investing, and advisory services [4]. Group 2: Market Performance - Galaxy Digital's stock (GLXY) experienced a 2.42% increase in pre-market trading after a 7.41% rise to $38.84 during the previous trading session, with a year-to-date increase of 123.99% [5]. - The stock has shown a strong price trend across short, medium, and long-term periods, despite a low growth ranking [5].

Core Insights - Galaxy Digital has launched a new retail trading app, GalaxyOne, which combines cash yields, cryptocurrency access, and commission-free stock trading, positioning itself as a competitor to Robinhood [1][5] - The app offers a 4% annual yield on cash accounts and allows trading of over 2,000 US stocks and ETFs, indicating a shift towards consumer finance from institutional crypto services [2][3] Company Overview - GalaxyOne features four main products: GalaxyOne Cash with a 4.00% APY, Galaxy Premium Yield targeting accredited investors with an 8.00% yield, and GalaxyOne Crypto for trading Bitcoin, Ethereum, and Solana [3][4] - The platform also includes GalaxyOne Brokerage, which offers broker-free trading of stocks and ETFs, IRA access, and fractional shares [4] Market Positioning - Galaxy Digital aims to attract more mature investors, contrasting with Robinhood's younger demographic, by leveraging its institutional-grade infrastructure for individual investors [5] - The launch of GalaxyOne intensifies competition in the US retail finance sector and tests the viability of a crypto-native firm against traditional trading applications [6]

RT BSCN (@BSCNews)🚨 GALAXY DIGITAL UNVEILS GALAXYONE!US users can access crypto, commission-free stocks, and earn up to 8% APY — full breakdown 👇https://t.co/Zs7z4dzOS7 ...