Galaxy Digital reports $112M Q1 loss, citing crypto price volatility

Galaxy Digital reports $112M Q1 loss, citing crypto price volatility


Cryptocurrency investment manager Galaxy Digital Holdings reported a sharp loss in the first quarter due to unrealized losses in its digital asset portfolio, underscoring heightened volatility in the digital asset sector in 2022. 

Galaxy Digital reported a net comprehensive loss of $111.7 million in the quarter ending March 31, compared to a gain of $858.2 million in the same quarter of 2021, the company announced Monday. In addition to unrealized losses in its digital asset portfolio, Galaxy’s overall losses were also attributed to investments in its trading and investment businesses.

The firm did report aggregate profitability for its asset management, investment banking and mining operations. Investment banking and mining posted record revenue and net comprehensive income during the quarter.

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Assets under management held by Galaxy Digital

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