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.

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 potential of GLXY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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