Mr. Michael Novogratz reports

GALAXY EXPANDS INTO LIQUID STAKING AS DEVELOPMENT COMPANY FOR LIQUID COLLECTIVE

Galaxy Digital Inc. is the development company for Liquid Collective, the leading enterprise-grade liquid staking protocol, through its acquisition of Alluvial Finance, a staking software development firm that served as the protocol's former development organization.

Liquid staking has become one of the fastest-growing corners of the digital asset market due to its ability to offer staking rewards while keeping staked assets liquid and usable across decentralized finance (DeFi) applications. Since launching in 2023 in partnership with Alluvial, Liquid Collective has cemented itself as the cornerstone of the liquid staking space, enabling institutional investors who stake Ethereum or Solana through the protocol to receive tokens that represent their staked positions, which can be used for trading, collateral management or other on-chain strategies. In 2025 alone, Liquid Collective has tripled its assets on platform to approximately $1-billion.

Galaxy's acquisition of Alluvial advances its mission to deliver end-to-end trading and investment services for institutions participating in on-chain markets by deepening its digital infrastructure platform and expanding its role in the development of liquid staking tokens by giving the company full responsibility for developing and maintaining the Liquid Collective protocol. To ensure seamless integration, the company has immediately begun on-boarding Alluvial's team of on-chain engineers and technology, including a customizable staking management system and developer tools that streamline integration for exchanges, custodians and asset managers.

"Galaxy has always built the infrastructure institutions need to operate confidently on chain from trading and custody to lending and staking. Becoming Liquid Collective's development company is a natural extension of that mission," said Michael Novogratz, founder and chief executive officer of Galaxy. "Galaxy is doubling down on building the next generation of institutional staking products and access to non-custodial worldwide."

As Liquid Collective's development company, Galaxy will leverage its institutional expertise and connectivity to expand the protocol across new assets and protocols, deepen validator participation, and broaden institutional investors' access to compliant, liquid-staking products worldwide.

"Liquid Collective was built to give institutions a safe, transparent and enterprise-grade path into liquid staking," said Chris Matta, chief executive officer of Liquid Collective. "Galaxy stepping in as our development company builds on that foundation. Their engineering depth, global footprint and track record with institutional partners will accelerate product innovation and expand access to compliant liquid staking globally."

With approximately $6.6-billion in assets under stake1, Galaxy operates one of the largest and most diversified institutional trading, lending and staking platforms in the market. The platform offers staking and related services -- such as instant, in-kind liquidity -- across leading protocols including Ethereum and Solana, and serves a global base of more than 1,200 institutional counterparties.

Liquid Collective will continue to operate independently under The Liquid Foundation, an ownerless foundation established to ensure neutrality, transparency and institutional governance. TLF plans to broaden its governance framework by inviting additional institutional stakeholders -- including digital-asset trusts, exchange-traded-fund issuers, liquidity providers, custodians and exchanges -- to participate in the Collective's oversight and growth.

(1) Galaxy's assets under stake as of Sept. 30, 2025.

About Galaxy Digital Inc.

Galaxy Digital is a global leader in digital assets and data centre infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence. Its digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody and tokenization technology. In addition, it develops and operates cutting-edge data centre infrastructure to power artificial intelligence and high performance computing workloads. Its 800-megawatt Helios campus in Texas, which has an additional 2.7 gigawatts of power under study, positions Galaxy among the largest and fastest-growing data centre developments in North America. The company is headquartered in New York, with offices across North America, Europe, the Middle East and Asia.

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