June 25, 2024

Mike Novogratz cryptocurrency net profit for three quarters amounted to $ 58.4 million

Cryptocurrency trading bank Galaxy Digital's net comprehensive income for the first nine months of this yeartotaled $ 58.4 million, despite a net loss of $ 68.2 million in the third quarter.

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Galaxy's most problematic venturethe third quarter turned out to be an OTC site. It accounts for $ 43.3 million of total losses. The trading division attracted 47% more counterparties than in the second quarter.

Operated by Galaxy Digital September 30there were assets worth $336 million, of which $325 million were in the EOS Fund. This fund made several investments in the third quarter &#8212; in Loopland Group Holding, Versiart, Immutable, Predictive Pop and FinCo Services.

The value of digital assets in the company's portfolio amounted to $133.5 million &#8212; $63.7 million more than at the end of last year.

Recall that in May Galaxy Digital sold its stake in Block.one startup for $ 71.2 million. In percentage terms, the deal’s return was 123%.

Already in the fourth quarter, the cryptocurrency bank launched two bitcoin funds with the support of Bakkt and Fidelity Digital Assets.