EquitiesFirst

06.02.2026

Alexander Christy Jr. founded EquitiesFirst in 2002 with a belief that flexible, non-recourse capital should be accessible to those with a genuine need for it. More than two decades and $7 billion in financing later, the firm has just announced the resolution of its most complex legal chapter: a settlement with Celsius Network related to the Celsius Network bankruptcy, providing for total payments of $500 million. We spoke with Christy about what the resolution means, how the firm got here, and where it is headed.

EquitiesFirst has just announced a comprehensive settlement with GXD Labs related to the Celsius bankruptcy.  How do you feel about where the firm stands today?

We’re very pleased. It took time and careful work to get here, but we’re satisfied with how this has been resolved. Our business and clients are unaffected. We had already accounted for the settlement amounts well in advance, so there was no disruption to our operations or our client service. What this resolution gives us is a clear path forward. We can put our full attention on what this firm does best, which is providing capital to clients who need it.

You had already planned for the $500 million in payments before the announcement. How does that reflect the way you run the firm?

Risk management is central to how we’ve always operated. When you’ve been financing clients through market cycles for 24 years, including everything from the 2008 crisis to the Covid downturn to the current environment, you develop a thorough discipline around understanding your exposures and planning ahead. The Celsius situation was complex, and working through it with the bankruptcy estate took time. But we had done the financial planning long before the comprehensive settlement was announced.‍

EquitiesFirst just recorded its best-ever year in 2025. How has that momentum carried into 2026?

The momentum is strong, and we see it most clearly in client activity. Global equity markets are at record highs, and the AI investment cycle has created a new generation of capital needs that our model is well suited to serve. Clients who hold substantial equity positions want to access liquidity without selling their stakes, and that’s precisely what we offer. We’re also seeing clients who’ve worked with us over many years returning for additional transactions, which tells you something meaningful about the trust that gets built when you’re consistent across market cycles. After the record we set in 2025, 2026 is tracking well.

You founded the firm more than two decades ago. What is the core belief that has stayed constant?

EquitiesFirst was founded on the belief that we can help people grow their businesses affordably and easily. I have always believed that financing should be fair and accessible to those that have a genuine need for it. The model has evolved, the footprint has grown. We now have a presence across the world. But that core belief has never changed. We’ve built this business through a succession of market cycles, going back to the aftermath of the dotcom bust in 2002. And we’ve been here for clients through every one of them.

What does the road ahead look like for EquitiesFirst?

We’re focused entirely on sustainable growth and on serving our clients well. The ongoing strength of EquitiesFirst is our top priority. We’ve spent 24 years building a reputation for delivering on our obligations: over $7 billion in financing, thousands of transactions, clients who come back again and again. That reputation is what this firm is built on, and we’re committed to protecting and extending it.

For more information on EquitiesFirst and its services, visit the EquitiesFirst Holdings website www.equitiesfirst.com. For the full settlement announcement, see the press release.

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