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Galaxy Digital Q3 Earnings Reveal FTX Exposure Worth $76.8 Million

Contagion from FTX insolvency and FTT price crash spread to financial services giant Galaxy Digital. The company’s Q3 2022 earnings report showed exposure to the troubled crypto exchange launched by Alameda founder Sam Bankman-Fried.

$47.5 million out of $76.8 million tied to FTX is “in the withdrawal process”, said Mike Novogratz’s company.

Crypto-centric financial services firm Galaxy Digital had exposure to embattled digital asset exchange FTX, the company’s third-quarter earnings report showed. Galaxy Digital said the total exposure amounted to $76.8 million.

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