# GALAXY DIGITAL PARTNERS LLC X-17A-5 (2026-02-27) — Broker-dealer annual report

- Company: GALAXY DIGITAL PARTNERS LLC
- Form: X-17A-5
- Filed: 2026-02-27
- Period: 2025-12-31
- Accession: 0001714418-26-000001
- CIK: 1714418
- File #: 8-70001
- Type: Broker-dealer
- Material weakness: No
- Auditor: WithumSmith & Brown
- Auditor location: Whippany, NJ
- Contact: Patrick Roach
- Phone: 9296240206
- Email: robert.rico@galaxy.com
- Website: galaxy.com
- Signed by: Patrick Roach (Managing Director)

Original filing: https://www.sec.gov/Archives/edgar/data/1714418/000171441826000001/GDP_123125_PFS.pdf

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8-70001

|                                              | 01/01/25<br>12/31/25                        |    |       |  |  |  |
|----------------------------------------------|---------------------------------------------|----|-------|--|--|--|
|                                              |                                             |    |       |  |  |  |
|                                              |                                             |    |       |  |  |  |
| Galaxy<br>Digital<br>Partners<br>LLC         |                                             |    |       |  |  |  |
| ■                                            |                                             |    |       |  |  |  |
|                                              |                                             |    |       |  |  |  |
| 300<br>Vesey<br>Street<br>-<br>13th<br>Floor |                                             |    |       |  |  |  |
|                                              |                                             |    |       |  |  |  |
| New<br>York                                  | NY                                          |    | 10282 |  |  |  |
|                                              |                                             |    |       |  |  |  |
|                                              |                                             |    |       |  |  |  |
| Robert<br>Rico                               | (347)<br>255-3049<br>robert.rico@galaxy.com |    |       |  |  |  |
|                                              |                                             |    |       |  |  |  |
|                                              |                                             |    |       |  |  |  |
| WithumSmith+Brown,<br>PC                     |                                             |    |       |  |  |  |
|                                              |                                             |    |       |  |  |  |
| 200<br>Jefferson<br>Park                     | Whippany                                    | NJ | 07981 |  |  |  |
|                                              |                                             |    |       |  |  |  |
| 10/08/2003                                   | 100                                         |    |       |  |  |  |
|                                              |                                             |    |       |  |  |  |

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# Galaxy Digital Partners LLC

Statement of Financial Condition December 31, 2025

{2}------------------------------------------------

### OATH OR AFFIRMATION

| Robert Rico                                                            | swear (or affirm) that, to the best of my knowledge and belief, the                       |
|------------------------------------------------------------------------|-------------------------------------------------------------------------------------------|
| financial report pertaining to the firm of Galaxy Digital Partners LLC | as of                                                                                     |
| December 31                                                            | 2 025 , is true and correct. I further swear (or affirm) that neither the company nor any |
|                                                                        | НАРНАЕ ОРИАК ДРАВАК ДЕЛИЦИАЛЬНАЯ ВАРАД МАША ВАСАВИДУВАНИЯ В ВЫДАВАНИЯ ОДАНИ               |

partner, officer, director, or equivalent person, as the case may proprietary interest in any account classified solel as that of a customer.

| DocuSigned by: |                          |  |
|----------------|--------------------------|--|
|                | Signature:   Robert Kico |  |
|                | -1CC259B4CC0F4FF         |  |
| Title:         |                          |  |
| CFO, FINOP     |                          |  |

# This filing \*\* contains (check all applicable boxes):

- (a) Statement of financial condition.
- (b) Notes to consolidated statement of financial condition.
- | {c} Statement of income (loss) or, if there is other comprehensive income in the period(s) presented, a statement of comprehensive income (as defined in § 210.1-02 of Regulation S-X).
- [ (d) Statement of cash flows.
- [ (e) Statement of changes in stockholders' or partners' or sole proprietor's equity.
- [ (f) Statement of changes in liabilities subordinated to claims of creditors.
- [ (g) Notes to consolidated financial statements.
- [ (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable.
- [ {i} Computation of tangible net worth under 17 CFR 240.18a-2.
- [] Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3.
- [ (k) Computation for determination of security-based swap reserve requirements pursuant to Exhibit B to 17 CFR 240.15c3-3 or Exhibit A to 17 CFR 240.18a-4, as applicable.
- [1) Computation for Determination of PAB Requirements under Exhibit A to § 240.15c3-3.
- [ (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3.
- [ [n] Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.15c3-3(p)(2) or 17 CFR 240.18a-4, as applicable.
- [ (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capible net worth under 17 CFR 240.15c3-1, 17 CFR 240.18a-1, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.15c3-3 or 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences exist.
- □ (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition.
- = (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable.
- [r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
- [s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
- [t] Independent public accountant's report based on an examination of the statement of financial condition.
- (u) Independent public accountant's report based on an examination of the financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable.
- □ (v) Independent public accountant's report based on an examination of certain statements in the compliance report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
- | |w) Independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
- | |x| Supplemental reports on applying agreed upon procedures, in accordance with 17 CFR 240.17a-12, as applicable.
- □ (y) Report describing any material inadequacies found to have existed since the date of the previous audit, or a statement that no material inadequacies exist, under 17 CFR 240.17a-12(k).
- □ (z) Other:
- \*\* To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5(e)(3) or 17 CFR 240.18c-7(d)(2), as applicable.

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![](_page_3_Picture_0.jpeg)

# REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Management and Member of Galaxy Digital Partners LLC:

#### Opinion on the Financial Statement

We have audited the accompanying statement of financial condition of Galaxy Digital Partners LLC (the "Company"), as of December 31, 2025, and the related notes (collectively referred to as the "financial statement"). In our opinion, the financial statement presents fairly, in all material respects, the financial position of the Company as of December 31, 2025, in conformity with accounting principles generally accepted in the United States of America.

#### Basis for Opinion

This financial statement is the responsibility of the Company's management. Our responsibility is to express an opinion on this financial statement based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statement is free of material misstatement, whether due to error or fraud. Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statement. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statement. We believe that our audit provides a reasonable basis for our opinion.

We have served as the Company's auditor since 2019.

Whippany, New Jersey February 25, 2026

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# Galaxy Digital Partners LLC

Notes to the Statement of Financial Condition December 31, 2025

#### 1. ORGANIZATION AND BUSINESS

#### Nature of Operations

Galaxy Digital Partners LLC (the "Company") is a limited liability company formed under the laws of New York and is a wholly owned subsidiary of Galaxy Digital LP, (the "Parent"). The Company is a broker-dealer registered with the Securities and Exchange Commission ("SEC") and is a member of the Financial Industry Regulatory Authority ("FINRA").

The Parent and the Company's affiliates are subsidiaries of Galaxy Digital Holdings LP, ("GDH LP"), an operating partnership.

The Company's principal business is selling private placements, underwriting and advisory services.

#### 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

#### Basis of Presentation

These financial statements were prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP") which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the financial statements and the amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.

#### Going Concern

In accordance with ASU 2014-15, Disclosures of Uncertainties About an Entity's Ability to Continue as a Going Concern, the Company believes that is business operations will continue for the foreseeable future, as it has the support of the Parent which will provide additional capital to the Company also has had substantial expenses covered by an affiliate through its expense sharing agreement. The affiliate has committed to covering the Company for at least one year from the date of these financial statements.

#### Cash

The Company maintains its cash at one commercial bank. The Federal Deposit Insurance Corporation ("FDIC") covers \$250,000 for substantially all deposit accounts. At times the Company's balances may be greater than the federally insured limit. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company's financial condition, results from operations, and cash flows.

#### Income Taxes

The Company is a wholly owned single member limited liability company and is treated as a disregarded entity for tax purposes.

At December 31, 2025, management has determined that the Company had no uncertain tax positions that would require financial statement recognition. This determination will be subject to ongoing reevaluation as facts and circumstances may require. Interest and penalties assessed, if any, are recorded as income tax expense.

#### Recently Adopted Accounting Pronouncements

The Company did not adopt any new accounting standards during the year ended December 31, 2025.

#### Accounts Receivable and Contract Assets and Liabilities Balances

Accounts receivable arise when the Company has an unconditional right to receive payment under a contract with a customer and are derecognized when the cash is received. As of January 1, 2025 there were accounts receivable of \$78,724, of which \$0 were collected in 2025, no contract assets, and contract liabilities of \$75,000, of which \$0 have been fulfilled in 2025. As of December 31, 2025, there were accounts receivable of \$856,834, no contract liabilities of \$75,000.

#### Allowance for Credit Losses

The Company follows ASC Topic 326, Financial Instruments - Credit Losses ("ASC 326"). ASC 326 impacts the impairment model for certain financial assets by requiring a current expected credit loss ("CECL") methodology to estimate expected credit losses over the entire life of the financial asset.

The Company identified accounts receivable and receivable from broker as impacted by the guidance.

An allowance for credit losses may be based on the Company's expectation of the receivables utilizing the CECL framework. The Company considers factors such as historical experience, credit quality, age of balances and current and future economic conditions that may affect the Company's expectation of the collectability in determining the allowance for

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# **\$\$#\$#**

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# **#%#!%\$&\$#**

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