<SEC-DOCUMENT>0000950103-25-006069.txt : 20250515
<SEC-HEADER>0000950103-25-006069.hdr.sgml : 20250515
<ACCEPTANCE-DATETIME>20250515162020
ACCESSION NUMBER:		0000950103-25-006069
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20250515
FILED AS OF DATE:		20250515
DATE AS OF CHANGE:		20250515

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Novogratz Michael
		CENTRAL INDEX KEY:			0001380615
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-42655
		FILM NUMBER:		25953648

	MAIL ADDRESS:	
		STREET 1:		300 VESEY STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10282

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Galaxy Digital Inc.
		CENTRAL INDEX KEY:			0001859392
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		ORGANIZATION NAME:           	09 Crypto Assets
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		300 VESEY STREET, 13TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10282
		BUSINESS PHONE:		212-390-9216

	MAIL ADDRESS:	
		STREET 1:		300 VESEY STREET, 13TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10282

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Galaxy Digital Pubco Inc.
		DATE OF NAME CHANGE:	20210427
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>dp228803_3-novogratz.xml
<DESCRIPTION>FORM 3
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2025-05-15</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001859392</issuerCik>
        <issuerName>Galaxy Digital Inc.</issuerName>
        <issuerTradingSymbol>GLXY</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001380615</rptOwnerCik>
            <rptOwnerName>Novogratz Michael</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O GALAXY DIGITAL INC.</rptOwnerStreet1>
            <rptOwnerStreet2>300 VESEY STREET</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10282</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Executive Officer</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Class A Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>348921</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Class A Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>522945</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Novofam Macro LLC</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>16.45</value>
                <footnoteId id="F4"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <value>2030-03-31</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>409271</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Class B Common Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F5"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F5"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F5"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>205096000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Held by Galaxy Group Investments LLC</value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Includes 302,609 shares of Class A Common Stock to be delivered in settlement of restricted share unit awards (&quot;RSUs&quot;). An RSU award was granted on March 27, 2024 where 99,000 are scheduled to vest on March 1, 2026 and 102,000 are scheduled to vest on March 1, 2027. 101,609 RSUs were granted on March 31, 2025 where 33,870 are scheduled to vest on March 1, 2026 and the remainder are scheduled to vest in equal quarterly installments thereafter (8 quarters). The RSU awards, in each case, are subject to continued service through the applicable vesting date.</footnote>
        <footnote id="F2">Includes 522,945 Class A common shares held indirectly by Novofam Macro LLC.</footnote>
        <footnote id="F3">This option vests over three years from March 1, 2025, with 1/3 vesting on the each of the first three anniversaries of such date, subject to continued service through the relevant vesting date.</footnote>
        <footnote id="F4">Conversion or Exercise price(s) represent Canadian Dollars.</footnote>
        <footnote id="F5">Each share of Class B common stock will entitle its holder to one vote per share on all matters submitted to a vote of the issuer's stockholders. Initially, the issuer expects that the number of issued and outstanding shares of Class B common stock will be equal to the number of issued and outstanding LP Units of GDH LP not held by the issuer or one of its subsidiaries, and that such LP Units will be redeemable or exchangeable, on a one-for-one basis, for shares of Class A Common Stock.</footnote>
    </footnotes>

    <remarks>Exhibit List - Exhibit 24 - Power of Attorney</remarks>

    <ownerSignature>
        <signatureName>/s/ Francesca Don Angelo, Attorney-in-Fact for Michael Novogratz</signatureName>
        <signatureDate>2025-05-15</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>dp228803_ex24.htm
<DESCRIPTION>EXHIBIT 24
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 24</B></P>

<P STYLE="margin: 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: left"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>POWER OF ATTORNEY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 157.7pt 0pt 161.6pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.25in">Know
all by these presents, that the undersigned hereby constitutes and appoints each of Francesca Don Angelo, Andrew Siegel, Leinee Hornbeck
and Anthony Paquette, as the undersigned&rsquo;s true and lawful attorneys-in-fact to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.15in 0pt 9pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.25in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;obtain
and maintain credentials, including any Form ID or amended Form ID, to enable the undersigned, directly or indirectly including through
a delegated entity, account administrator or other designated filing agent, to submit and file information and documents via the SEC&rsquo;s
Electronic Data Gathering and Retrieval (&ldquo;EDGAR&rdquo;) system or successor EDGAR Next, including identification codes, verification
codes, passwords and password management codes, and any related annual certifications or confirmations, and to act as the undersigned&rsquo;s
agent for such purposes;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 9pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.25in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;execute
for and on behalf of the undersigned, in the undersigned&rsquo;s capacity as a reporting person pursuant to Section 16 of the Securities
Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;), and the rules thereunder of Galaxy Digital Inc. (the &ldquo;Company&rdquo;),
Forms 3, 4 and 5, including any amendments thereto, in accordance with Section 16(a) of the Exchange Act;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9.1pt 0pt 8.95pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.25in">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;do
and perform any and all acts, directly or indirectly including through a delegated entity, account administrator or other designated
filing agent, for and on behalf of the undersigned which may be necessary or desirable to complete and execute any such Form 3, 4 or
5, complete and execute any amendment or amendments thereto, and timely file such form with the United States Securities and Exchange
Commission (the &ldquo;SEC&rdquo;) and any applicable stock exchange or similar authority;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 10.1pt 0pt 9pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.25in">(4)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;prepare,
execute and file, or cause to be prepared, executed and filed, on behalf of the undersigned one or more Forms 144, or any amendments
thereto, relating to any sales orders (including in connection with the exercise of options to purchase the Company&rsquo;s common stock
(&ldquo;common stock&rdquo;), orally or electronically, to sell shares of common stock to the public from time to time in accordance
with Rule 144 under the Securities Act of 1933, as amended; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.25in">(5)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;take
any other action of any type whatsoever in connection with the foregoing which, in the opinion of any of such attorneys-in-fact, may
be of benefit to, in the best interest of, or legally required by, the undersigned, it being understood that the documents executed by
any of such attorneys-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain
such terms and conditions as any of such attorneys-in-fact may approve in the discretion of any of such attorneys-in-fact.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.75pt 0pt 8.95pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.25in">The undersigned
hereby grants to each such attorney-in-fact full power and authority to act separately and to do and perform any and every act and thing
whatsoever requisite, necessary, or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all
intents and purposes as the undersigned might or could do if personally present, with full power of substitution, delegation or revocation,
hereby ratifying and confirming all that any of such attorneys-in-fact, or the substitute or substitutes or delegee or delegees of any
of such attorneys- in-fact, shall lawfully do or cause to be done by virtue of this Power of Attorney and the rights and powers herein
granted. The undersigned acknowledges that the foregoing attorneys-in-fact, in serving in such capacity at the request of the undersigned,
are not assuming, nor is the Company assuming, any of the undersigned&rsquo;s responsibilities to comply with Section 16 of the Exchange
Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.65pt 0pt 8.95pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.25in">This
Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file Forms 3, 4 and 5 with respect
to the undersigned&rsquo;s holdings of and transactions in securities issued by the Company, unless earlier revoked by the undersigned
in a signed writing delivered to the foregoing attorneys-in-fact. This Power of Attorney supersedes all other powers of attorney previously
executed by the undersigned in respect of the subject matter described herein.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0.25in">IN WITNESS
WHEREOF, the undersigned has caused this Power of Attorney to be executed as of this 15 day of April<FONT STYLE="font-family: Times New Roman, Times, Serif">,</FONT>
2025.</P>





<P STYLE="margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">Name: Michael Novogratz</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">Signature: /s/ Michael Novogratz</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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