2018-7-28 12:32 |
Crypto Merchant Bank Galaxy Digital Posts Q1 Losses of Over $130 Million
“I am very proud of the progress that we have made since the beginning of the year,” Galazy Digital CEO and founder, billionaire Mike Novogratz explained at a first quarter earnings call to investors.
From January through March of this year, however, the bank appears to have lost around $134 million.
Still Bullish
The loss breakdown for Galaxy is believed to be as follows: $103 million lost in crypto trading, $13.5 million in realized loss, and another $85.5 in unrealized losses.
The merchant bank also spent nearly $11 million on operating expenses.
Close to a dozen investments totaling $86 million also might be an indication of the merchant bank’s overall optimism.
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