Galaxy Digital is trading at $18.72 (10.6% down) after announcing a $3.51 billion senior secured notes offering to finance a large-scale data center project in Texas.
- The sizable debt-funded expansion plan has triggered investor concerns regarding the company's increased leverage and balance sheet impact.
- While the sharp move is primarily tied to the financing news, broader risk-off sentiment in equities and stagnant cryptocurrency prices are adding further downward pressure.