Galaxy Digital (GLXY) Falls 9.5% on Lack of Catalyst

Galaxy Digital (NASDAQ:GLXY) is one of the 10 Stocks Crash Hard Alongside Wall Street.

Galaxy Digital fell by 9.47 percent on Monday to close at $19.69 each amid the lack of fresh developments, while mirroring the overall market pessimism following President Donald Trump’s tariff letters to its trading partners.

In recent news, Galaxy Digital (NASDAQ:GLXY) successfully raised $175 million in fresh funds from its fundraising program called Galaxy Ventures Fund I (GVF I). The program was oversubscribed by $25 million following strong investor demand, having targeted only $150 million initially.

According to Galaxy Digital (NASDAQ:GLXY), GVF I attracted a diverse group of limited partners, including institutional investors, family offices, and strategic digital asset businesses. The portfolio included startups, namely 1Money, Arch Lending, Ethena, M^0, Monad, Plume, Rail, Rain, RedotPay, Ubyx, and Yellow Card, among others.

Galaxy Digital (GLXY) Falls 9.5% on Lack of Catalyst

A close up of a person’s hands interacting with a digital financial asset tracker.

Proceeds from the offer will be used to invest in early-stage companies developing critical infrastructure and applications for the on-chain economy, as well as stablecoins, payments, and tokenization, among others.

While we acknowledge the risk and potential of GLXY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than GLXY and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.