Galaxy Board of Directors Approves $200 Million Stock Buyback Program

BlockBeats News, February 6th, Galaxy Digital announced that its board of directors has approved a stock repurchase program, authorizing the repurchase of up to $200 million of Class A common stock. The plan is for a duration of 12 months, during which Galaxy may repurchase shares through open market purchases, privately negotiated transactions, or otherwise, depending on market conditions.

Galaxy's founder and CEO, Mike Novogratz, stated that this buyback program is based on the company's strong balance sheet and confidence in long-term prospects, aiming to return capital to shareholders when the stock price does not reflect the business value.