September 26, 2022

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

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

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.

Running Galaxy Digital September 30ththere were assets worth $ 336 million, of which $ 325 million were in the EOS Fund. In the third quarter, this fund made several investments - 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 - $ 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.