-
Novogratz’s Galaxy Digital Becomes Profitable in 2023 with a Push in Crypto Prices
Michael Novogratz’s Galaxy Digital Holdings has turned a profit of $296 million in 2023, recovering from a loss of $1 billion in the previous year, as the upward movement of cryptocurrency prices picked up. Interestingly, the final quarter of 2023 turned the results for the company when it generated a net income of $302 million, compared to a loss of $288 million in the corresponding quarter of the precious year. Even in the third quarter of 2023, it had a loss of $94 million. “Since the end of the fourth quarter 2023, digital asset prices materially changed, and our business has benefited from heightened market ... (full story)