Bitcoin $93,561.10 -4.35%
Ethereum $3,440.06 +2.27%
BNB $638.92 -3.48%
Optimism $2.32 +5.11%
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Solana $236.33 -6.85%
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Avalanche $41.85 -0.41%

Bitcoin $93,561.10 -4.35%
Ethereum $3,440.06 +2.27%
BNB $638.92 -3.48%
Optimism $2.32 +5.11%
Arbitrum $0.92 +6.65%
Solana $236.33 -6.85%
Polygon $0.55 -3.96%
Cosmos $8.00 -8.73%
Avalanche $41.85 -0.41%

Mike Novogratz Calls 2022 a ‘Formative Year’ As Galaxy Digital Reports $1 Billion Loss

Crypto investment firm Galaxy Digital missed analyst expectations with its Q4 and full-year 2022 results. The Toronto-listed company reported a net loss of $1bn for 2022 compared with a $1.7bn profit in 2021, and a $288m loss for Q4 2022. The company attributed the loss to unrealised marks to market on its investment portfolio. Analysts had estimated an average net revenue of CAD674m ($492m) for the financial year and CAD43m ($31m) for the quarter, but the firm achieved revenue of $419.4m. Counterparty trading volumes increased by about 19% in Q4 over the prior period, but decreased 65% YoY.

(By Kari McMahon)

Related News:

Galaxy Digital CEO Calls Bitcoin ‘A Report Card on Monetary Policy and Financial Stability’

Galaxy Digital CEO Recommends Buying Crypto And Bitcoin Amid US Credit Crunch

Galaxy Digital Has Excess Capital After Acquisitions, Needs To Get Them Right Before Spending Again

Galaxy Digital Closes $44M Acquisition of Self-Custody Platform GK8

Galaxy Digital Gets Approval for Bahamas Subsidiary Amid Rising US Regulatory Uncertainty

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