Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
No Result
View All Result

Home » Crypto Bank Galaxy Digital Posts Q1 Net Loss of $134M

Crypto Bank Galaxy Digital Posts Q1 Net Loss of $134M

Kelly Cromley by Kelly Cromley
Jul 27, 2018
in News
Reading Time: 1 min read
0

Crypto investment bank Galaxy Digital, founded by billionaire investor Michael Novogratz, lost $134 million in the first quarter of 2018, primarily due to a sharp drop in cryptocurrency prices.

According to the quarterly earnings report, Galaxy Digital has posted a “net unrealized loss” of $85.5 million on digital assets.

Additionally, the investment firm has lost another $24 million loss from other investments. Overall, the unrealized losses amounted to $109.6 million in its first-ever quarterly earnings report.

Furthermore, Galaxy Digital recorded $11 million in operating expenses and a net realized loss of $13.5 million. This resulted in 1Q18 net loss of ~$134 million. The company is yet to report its second-quarter results.

The report also confirmed the founder’s plan to complete a merger with Canadian companies First Coin Capital Corp. and Bradmer Pharmaceuticals Inc. Galaxy Digital is also trying to get its shares listed on the Canadian stock exchange.

For the merger to be allowed, regulators have made additional demands. This has delayed the listing process. Despite the setbacks, Novogratz has stated that he is “proud” of Galaxy’s progress so far this year.

Novogratz said

“We have assembled a world-class team with deep institutional knowledge and expertise and have also made significant strides in scaling our four core business lines. I have complete confidence in our team’s ability to continue driving growth and believe the Company is strategically positioned to help further institutionalize the digital assets and blockchain technology industry.”

Previous Post

EOS RAM Prices Fall After Block Producers Vote To Increase Capacity

Next Post

Google Bans Mobile Crypto Mining Apps From Play Store

Related Posts

dac partners with deepbook ai

DAC Platform and DeepBook AI Redefine Web3 Browsing

by Kelly Cromley
Jul 18, 2025
0

DAC Platform has revealed its latest collaboration with DeepBook AI, signaling a strategic move aimed at enhancing user interaction within...

spheron partners with wire network

Spheron and Wire Blockchain Unite to Power Decentralized AI Internet

by Kelly Cromley
Jul 18, 2025
0

Spheron Network has announced a strategic collaboration with Wire Blockchain, aiming to deliver a more resilient and scalable internet infrastructure...

magne ai

MAGNE.AI Unveils Web3 AI Smartphone with Global Launch in KL

by Kelly Cromley
Jul 18, 2025
0

MAGNE.AI is preparing to make a prominent entry into the global mobile technology market with the public debut of its...

adi foundation

ADI Chain Testnet Launch Signals a New Era in Blockchain Speed

by Kelly Cromley
Jul 18, 2025
0

The ADI Foundation has officially initiated the public testnet launch of ADI Chain, a next-generation blockchain infrastructure designed to be...

cardano

Cardano Expands Reach Through Blockchain.com DeFi Wallet Integration

by Kelly Cromley
Jul 18, 2025
0

Cardano has taken a major step forward in advancing its decentralized finance (DeFi) ambitions by being integrated into Blockchain.com’s DeFi...

Domino Printech India partners with Block Synergy Technology Limited

Domino Printech India and Block Synergy launch TagITX to combat counterfeiting with on-product traceability

by Kelly Cromley
Jul 18, 2025
0

In a major step to curb the growing problem of counterfeit goods in India, Domino Printech India, a recognized name...

Next Post
Google Bans Mobile Crypto Mining Apps From Play Store

Google Bans Mobile Crypto Mining Apps From Play Store

  • Collé Ai

    Collé: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Hyper Foundation Launched to Boost Hyperliquid Blockchain Development

    by Kelly Cromley
    Oct 15, 2024
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025

Recent News

dac partners with deepbook ai
Market News

DAC Platform and DeepBook AI Redefine Web3 Browsing

by Kelly Cromley
Jul 18, 2025
spheron partners with wire network
Market News

Spheron and Wire Blockchain Unite to Power Decentralized AI Internet

by Kelly Cromley
Jul 18, 2025
magne ai
Market News

MAGNE.AI Unveils Web3 AI Smartphone with Global Launch in KL

by Kelly Cromley
Jul 18, 2025
adi foundation
Market News

ADI Chain Testnet Launch Signals a New Era in Blockchain Speed

by Kelly Cromley
Jul 18, 2025
cardano
Cardano News

Cardano Expands Reach Through Blockchain.com DeFi Wallet Integration

by Kelly Cromley
Jul 18, 2025

Categories

  • Altcoin News
  • Analysis News
  • Binance Coin News
  • Bitcoin News
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market Forecasts
  • Market News
  • News
  • Ripple News
  • Solana News
  • Tether News
Trustpilot

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree