Galaxy Digital Q3 Blowout & Anthropic Pre-IPO Arb Signal
Galaxy Digital reversed an $85M loss to post $323M in Q3 net income, with its AI data center business up 293% QoQ; separately a 1,581% spread in Anthropic pre-IPO perpetual prices across platforms is flagged as a potential arbitrage.
What we know
Galaxy Digital posted its biggest quarterly turnaround in recent memory: $323M net income (vs. -$85M prior quarter), crypto trading volumes up 12%, loan book +27% to $1.8B, and a new $200M share buyback @TheBlockCo. Its data center business generated $79M adjusted gross profit in Q3 — up 293% QoQ — with its total power pipeline now exceeding 5.7 GW as demand for AI infrastructure surges. On Anthropic specifically, an account on X spotted a startling divergence: pre-IPO perpetual (IPOP) contracts for $ANT are trading at $116 on tradexyz vs. ~$1,900 on Lighter and Entropy — a ~1,581% spread that remains unresolved whether by multiplier differences or genuine market inefficiency another account on X. The widely-cited '5.3M tokenized stock holders' figure was also corrected — Birdeye's cleaner count shows only 1.22M accounts hold at least $1 in tokenized stocks, and 791k hold at least $10 another account on X.
How the story developed
Galaxy Digital reversed an $85M loss to post $323M in Q3 net income, with its AI data center business up 293% QoQ; separately a 1,581% spread in Anthropic pre-IPO perpetual prices across platforms is flagged as a potential arbitrage.
A wave of Q3 2026 earnings reports landed this hour, with the majority beating estimates — highlights include Coca-Cola, SoFi, Galaxy Digital, Corning, and HCA. American Tower's data center revenue surged 17%, underscoring continued AI infrastructure demand.
Sources
“Galaxy Digital reported $323 million in third-quarter net income, reversing an $85 million loss; data center business up 293% QoQ”
View post →By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.