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DERIVATIVES (Tables) - Galaxy Digital Holdings, LP | 3 Months Ended
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Mar. 31, 2025
Derivative [Line Items] |
Schedule of Company’s Derivatives Portfolio | The breakdown of the Company’s derivatives portfolio, as of December 31, 2024 and December 31, 2023, was as follows (in thousands): December 31, 2024
(in thousands) |  | Notional Amounts (1) |  | Gross Fair Value-Derivative Assets |  | Gross Fair Value- Derivative Liabilities
Digital assets |  | $ | 4,685,112 |  |  | $ | 185,208 |  |  | $ | (145,493) |
Foreign currencies |  | 19,259 |  |  | 12,064 |  |  | (10,483) |
Equity securities |  | 1,049,846 |  |  | 10,343 |  |  | (9,683) |
Interest rates |  | 5,002 |  |  | 19 |  |  | (13) |
Commodities |  | 10,583 |  |  | 19 |  |  | (186) |
|  | $ | 5,769,802 |  |  | $ | 207,653 |  |  | $ | (165,858) |
Digital assets receivable |  | 3,911 |  |  | 60,720 |  |  | — |
Embedded derivatives — Digital assets borrowed |  | 1,269,013 |  |  | 24,039 |  |  | (252,635) |
Embedded derivatives — Collateral payable |  | 1,219,247 |  |  | 55,848 |  |  | (161,261) |
Embedded derivatives — Notes payable |  | 847,500 |  |  | — |  |  | (136,192) |
December 31, 2023
(in thousands) |  | Notional Amounts (1) |  | Gross Fair Value-Derivative Assets |  | Gross Fair Value- Derivative Liabilities
Digital assets |  | $ | 2,831,616 |  |  | $ | 122,911 |  |  | $ | (120,795) |
Foreign currencies |  | 3,397 |  |  | 11,279 |  |  | (11,027) |
Equity securities |  | 54,417 |  |  | 30,541 |  |  | (23,876) |
Interest rates |  | 1,408,406 |  |  | 7,698 |  |  | (4,639) |
Commodities |  | 61,236 |  |  | 780 |  |  | (305) |
|  | $ | 4,359,072 |  |  | $ | 173,209 |  |  | $ | (160,642) |
Digital assets receivable |  | 15,971 |  |  | 20,860 |  |  | — |
Embedded derivatives — Digital assets borrowed |  | 369,280 |  |  | 877 |  |  | (29,874) |
Embedded derivatives — Collateral payable |  | 439,544 |  |  | 4,244 |  |  | (134,695) |
Embedded derivatives — Notes payable |  | 445,000 |  |  | — |  |  | (10,472) |
___________________ (1)Notional amounts represent the U.S. Dollar denominated size of the underlying assets for the derivative instruments. They do not accurately reflect the Company's economic exposure as they do not reflect the Company's long and short derivative positions.
Schedule Of Collateral Payable Associated With Derivative Positions | The below table represents the breakdown of assets posted as collateral and collateral payable associated with derivative positions as of December 31, 2024 and 2023:
(in thousands) |  | December 31, 2024 |  | December 31, 2023 |  |
Assets posted as collateral — Digital assets |  | $ | — |  |  | $ | 15,284 |  |  |
Assets posted as collateral — Cash |  | — |  |  | 2,091 |  |  |
Assets posted as collateral associated with derivatives |  | $ | — |  |  | $ | 17,375 |  |  |
Collateral payable — Digital assets |  | 30,600 |  |  | 9,521 |  |  |
Collateral payable — Cash |  | 30,460 |  |  | 11,367 |  |  |
Collateral payable associated with derivatives |  | $ | 61,060 |  |  | $ | 20,888 |  |  |

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