Galaxy Digital emerged as the largest buyer in FTX's bankruptcy auction, acquiring 25.52 million SOL tokens at $64 each. If held, these tokens would now yield a 154% return. In April, Galaxy reportedly shifted from ETH to SOL, selling 65,600 ETH to acquire 752,240 SOL, potentially missing out on ETH's subsequent price surge. Galaxy also profited significantly from LUNA, purchasing 18.51 million tokens at $0.22 each before its peak near $120. However, following LUNA's collapse, Galaxy faced market manipulation allegations, resulting in a $200 million settlement. In May, Galaxy transitioned its listing from the Toronto Stock Exchange to Nasdaq. As of Q1 2025, the company reported $1.1 billion in cash and stablecoins, alongside $1.9 billion in equity.