In a startling revelation amid the FTX fiasco, Galaxy Digital Holdings Ltd BRPHF revealed it has $76.8 million in commitments besieged cryptocurrency exchangefrom which $47.5 million is currently being deducted.

It’s already not been a great 2022 for Galaxy and its CEO Larry Mike Novogratz. Galaxy Digital was an early supporter of Terra and his cryptocurrency Luna and algorithmic stablecoin TerraUSD, both collapsed earlier this year.

Novogratz got one too Luna themed wolf tattoo on his arm just before the crypto collapse.

In the company’s quarterly earnings call on November 9, Galaxy Digital reported its exposure to FTX consists of cash and digital assets.

The cryptocurrency exchange announced this on Tuesday cessation of all withdrawals due to a liquidity crisis caused by a run on consumer banks and a catastrophic price drop in his homeland FTX Token FTT/USDwhich the exchange uses as collateral.

Galaxy Digital claims to have over $1.5 billion in liquidity

Galaxy Digital claimed to have $1.5 billion in liquidity, including $1.0 billion in cash and an additional $235.8 million in stablecoins, to avert losses despite its involvement in the company, which is led by Sam Bankman Fried.

Related link: Crypto’s White Knight Needs A White Knight: Could FTX/CZ Drama Be Sam Bankman-Fried’s Downfall?

The company’s partner equity declined 12% year over year to $1.8 billion in the three months ended Sept. 30, citing a declining cryptocurrency market cap as a factor.

Galaxy Digital’s primary sources of revenue include advisory fees, management fees, loan income, mining income and changes in the fair value of derivatives and investments.

The company’s third-quarter revenue fell 84.9% year over year to $32.7 million.

Also read: Binance May Exit FTX Buyout, Says New Report; Bitcoin breaks the $17,000 mark

This was due to significantly lower investment income…