XML 67 R58.htm IDEA: XBRL DOCUMENT
v3.25.1

EQUITY BASED COMPENSATION (Tables) - Galaxy Digital Holdings, LP | 3 Months Ended
--- | ---
Mar. 31, 2025
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
Schedule of Compensation and Benefits | For the years ended December 31, 2024, 2023 and 2022, the total compensation and benefits include cash based payments and equity based payments as follows:
|  | Year ended
(in thousands) |  | December 31, 2024 |  | December 31, 2023 |  | December 31, 2022 |  |
Compensation and benefits excluding equity based compensation |  | $ | 191,435 |  |  | $ | 136,132 |  |  | $ | 127,078 |  |  |
Equity based compensation (1) |  | 74,156 |  |  | 83,124 |  |  | 89,123 |  |  |
Total compensation and benefits (2) |  | $ | 265,591 |  |  | $ | 219,256 |  |  | $ | 216,201 |  |  |
__________________ (1)Excludes Deferred Share Units related to directors which is included in General and administrative expense. (2)Net of capitalized compensation costs related to internally generated intangible assets.
Share-Based Payment Arrangement, Expensed and Capitalized, Amount | The Company has awarded compensatory Class B Units, stock options and restricted stock to eligible officers and employees. For the years ended December 31, 2024, 2023 and 2022, equity based compensation included the following:
|  | Year ended |  |  |  |
(in thousands) |  | December 31, 2024 |  | December 31, 2023 |  | December 31, 2022 |  |  |  |
Stock options |  | $ | 20,475 |  |  | $ | 23,138 |  |  | $ | 27,628 |  |  |  |  |
Restricted Stock (Restricted Stock, Restricted Stock Units and Deferred Share Units) (1) |  | 54,489 |  |  | 60,593 |  |  | 61,512 |  |  |  |  |
Compensatory Class B Unit Awards |  |  |  |  |  |  |  |  |  |
Profit Interest Units |  | 53 |  |  | 59 |  |  | 720 |  |  |  |  |
|  | $ | 75,017 |  |  | $ | 83,790 |  |  | $ | 89,860 |  |  |  |  |
__________________ (1)Includes expense associated with restricted stock issued in connection with the Company’s acquisition of Vision Hill.
Schedule of Share-Based Payment Arrangement, Option, Activity | A summary of the Company’s stock option activity under the plans, including stock options with performance based conditions is set forth in the following table:
Description |  | Number of Options |  | Weighted Average Exercise Price (C$) |  | Weighted-Average Remaining Terms (Years) |  | Aggregate Intrinsic Value (in thousands) |  |
Balance, December 31, 2021 |  | 30,413,345 |  |  | $ | 7.64 |  |  | 3.43 |  | $ | 366,012 |  |  |
Granted |  | 1,565,000 |  |  | 19.63 |  |  |  |  |  |  |
Exercised |  | (2,627,053) |  |  | 2.68 |  |  |  |  |  |  |
Forfeited |  | (1,698,749) |  |  | 11.26 |  |  |  |  |  |  |
Balance, December 31, 2022 |  | 27,652,543 |  |  | 8.56 |  |  | 2.62 |  | $ | 9,594 |  |  |
Granted (1) |  | 10,963,780 |  |  | $ | 6.30 |  |  |  |  |  |  |
Stock options replaced by replacement awards |  | (1,875,000) |  |  | 23.08 |  |  |  |  |  |  |
Exercised |  | (5,847,020) |  |  | 3.73 |  |  |  |  |  |  |
Forfeited |  | (5,485,996) |  |  | 9.23 |  |  |  |  |  |  |
Expired / Canceled / Repurchased |  | (3,144,334) |  |  | 14.04 |  |  |  |  |  |  |
Balance, December 31, 2023 |  | 22,263,973 |  |  | $ | 6.56 |  |  | 2.98 |  | $ | 76,893 |  |  |
Granted |  | 2,913,051 |  |  | 16.66 |  |  |  |  |  |  |
Exercised |  | (3,546,327) |  |  | 3.16 |  |  |  |  |  |  |
Forfeited |  | (1,521,299) |  |  | 6.63 |  |  |  |  |  |  |
Canceled |  | (244,390) |  |  | 11.55 |  |  |  |  |  |  |
Balance, December 31, 2024 |  | 19,865,008 |  |  | $ | 8.58 |  |  | 3.44 |  | $ | 230,641 |  |  |
Vested and expected to vest as of December 31, 2024 |  | 19,865,008 |  |  | $ | 8.58 |  |  | 3.44 |  | $ | 230,641 |  |  |
Options exercisable as of December 31, 2024 |  | 10,691,460 |  |  | $ | 7.37 |  |  | 1.66 |  | $ | 132,653 |  |  |
Vested and expected to vest as of December 31, 2023 |  | 22,263,973 |  |  | $ | 6.56 |  |  | 2.98 |  | $ | 76,893 |  |  |
Options exercisable as of December 31, 2023 |  | 9,712,157 |  |  | $ | 5.80 |  |  | 1.82 |  | $ | 40,427 |  |  |
Vested and expected to vest as of December 31, 2022 |  | 27,652,543 |  |  | $ | 8.56 |  |  | 2.62 |  | $ | 9,594 |  |  |
Options exercisable as of December 31, 2022 |  | 14,180,883 |  |  | $ | 4.66 |  |  | 2.06 |  | $ | 8,135 |  |  |
_______________ (1)Includes stock options granted due to stock option modification.
Schedule of Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award | The fair value of the options granted was measured using the Black-Scholes option pricing model with the following weighted average inputs:
Inputs to the Black-Scholes Model |  | December 31, 2024 |  | December 31, 2023 |  | December 31, 2022 |  |  |  |  |  |
Share price |  | C$12.41 - C$27.45 |  | C$4.77 - C$7.43 |  | C$4.83 - C$20.40 |  |  |  |  |  |
Exercise price |  | C$10.00 - C$37.38 |  | C$4.19 - C$8.06 |  | C$5.39 - C$21.30 |  |  |  |  |  |
Expected term (in years) |  | 5 |  | 5 |  | 5 |  |  |  |  |  |
Expected volatility |  | 85% - 90% |  | 80% - 90% |  | 98% - 120% |  |  |  |  |  |
Risk-free interest rate |  | 2.8% - 3.8% |  | 3.00% - 3.96% |  | 2.48% - 3.00% |  |  |  |  |  |
Dividend yield |  | 0% |  | 0% |  | 0% |  |  |  |  |  |
Schedule of Nonvested Share Activity | The following table summarizes the activity related to the compensatory Class B Units during the respective periods:
Description |  | Class B Units |  | Weighted-Average Grant Date Fair Value (C$)
Balance, December 31, 2021 |  | 14,890,203 |  |  | $ | 1.81 |
Granted/ Transferred |  | — |  |  | — |
Exchanged / Redeemed |  | (4,097,259) |  |  | 1.98 |
Forfeited |  | — |  |  |
Balance, December 31, 2022 |  | 10,792,944 |  |  | $ | 1.49 |
Granted/ Transferred |  | — |  |  | — |
Exchanged |  | — |  |  | — |
Forfeited |  | — |  |  | — |
Balance December 31, 2023 |  | 10,792,944 |  |  | $ | 1.49 |
Granted/ Transferred |  | — |  |  | — |
Exchanged |  | (81,357) |  |  | 1.65 |
Forfeited |  | — |  |  | — |
Balance December 31, 2024 |  | 10,711,587 |  |  | $ | 1.49 |
Class B Units exercisable, December 31, 2024 |  | 10,711,587 |  |  | $ | 1.49 |
Class B Units exercisable, December 31, 2023 |  | 10,777,718 |  |  | $ | 1.49 |
Schedule of Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity | The following table summarizes the activity related to Restricted Stock during the respective periods:
Description |  | Number of Units |  | Weighted Average Grant Price (C$)
Balance, December 31, 2021 |  | 1,925,399 |  |  | $ | 11.39 |
Vested |  | (281,809) |  |  | 19.11
Balance, December 31, 2022 |  | 1,643,590 |  |  | $ | 10.07 |
Vested |  | (736,782) |  |  | 10.61 |
Forfeited |  | (625,000) |  |  | 5.35
Balance, December 31, 2023 |  | 281,808 |  |  | $ | 19.11 |
Vested |  | (281,808) |  |  | 19.11
Forfeited |  | — |  |  | — |
Balance, December 31, 2024 |  | — |  |  | $ | — |
Schedule of Share-Based Payment Arrangement, Restricted Stock Unit, Activity | The following table summarizes the activity related to Restricted Share Units during the respective periods:
Description |  | Number of Units (1) |  | Weighted Average Grant Price (C$)
Balance, December 31, 2021 |  | 7,833,659 |  |  | $ | 23.32 |
Granted (1) |  | 6,718,554 |  |  | 18.13 |
Exercised |  | (1,425,013) |  |  | 22.99 |
Forfeited/ Cancelled |  | (1,664,283) |  |  | 22.04 |
Balance, December 31, 2022 |  | 11,462,917 |  |  | $ | 20.50 |
Granted (1) |  | 4,983,339 |  |  | 4.92 |
Exercised |  | (3,036,166) |  |  | 19.20 |
Forfeited/ Cancelled |  | (2,206,466) |  |  | 18.31 |
Balance, December 31, 2023 |  | 11,203,624 |  |  | $ | 14.36 |
Granted (1) |  | 3,439,035 |  |  | 14.85 |
Exercised |  | (3,668,309) |  |  | 15.44 |
Forfeited/ Cancelled |  | (964,777) |  |  | 14.17 |
Balance, December 31, 2024 |  | 10,009,573 |  |  | $ | 14.15 |
Units vested as of December 31, 2024 |  | 4,066,372 |  |  | $ | 15.07 |
Units vested as of December 31, 2023 |  | 3,281,195 |  |  | $ | 18.47 |
_______________ (1)Includes deferred share units granted to the directors as part of annual compensation.

X
- Definition Schedule of Compensation and Benefits + References No definition available. + Details
Name: | glxy_ScheduleOfCompensationAndBenefitsTableTextBlock
Namespace Prefix: | glxy_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Subparagraph (c) -Paragraph 2 -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_NonvestedRestrictedStockSharesActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfNonvestedShareActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 35 -Paragraph 1D -Publisher FASB -URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 35 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480483/718-10-35-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(ii) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iii) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iv) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iv)(01) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iv)(02) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iv)(03) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iv)(04) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2)(i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2)(ii) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2)(iii) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2)(iii)(01) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2)(iii)(02) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2)(iii)(03) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f)(2)(i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f)(2)(ii) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 26: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f)(2)(iii) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 27: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f)(2)(iv) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 28: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f)(2)(v) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | dei_LegalEntityAxis=glxy_GalaxyDigitalHoldingsLPMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |