Galaxy Digital Asset Management, a subsidiary of crypto broker-dealer Galaxy Digital (OTCPK:BRPHF), experienced a decline in assets under management. AUM in May came in at $2.02B, down from $2.5B in April, but remains elevated from $1.3B In May 2021. Shares of BRPHF are edging down 1.4% in afterhours trading. The softer AUM print comes as the crypto industry faces "turbulent market conditions," with major digital tokens like bitcoin (BTC-USD) losing most of last year's gains and consolidating within tight ranges. Previously, (May 13) Galaxy Digital saw QTD net loss of $300M amid uncertainty in crypto space.
