-
Novogratz’s Galaxy Says Quarterly Loss Widened Ahead of Bitcoin ETF Bid
Michael Novogratz’s crypto financial services firm Galaxy Digital Holdings Ltd. said its third-quarter loss widened as token prices fell and the digital asset market weathered record lows in volatility. The New York-based firm reported a net loss of $94 million, compared with about $68 million in the same quarter a year earlier. It posted a loss of around $46 million in the second quarter. Consensus estimates had forecast that Galaxy’s losses would hold broadly steady at $44 million. Galaxy, which offers businesses ranging from crypto trading and asset management to mining, reported trading revenue of $14 million ... (full story)