The loss is nearly 4 occasions as vast as that of the corresponding quarter a 12 months in the past.
The corporate cited declines in digital asset markets for the consequence. Bitcoin fell 12% within the second quarter.
Digital asset monetary providers firm Galaxy Digital (GLXY) posted a second-quarter web lack of $177 million, virtually 4 occasions as vast because the year-earlier interval, after crypto markets retreated.
Galaxy noticed web realized losses of $161.7 million on its digital asset holdings. Bitcoin slumped 12% within the quarter after surging virtually 70% within the earlier three months, based on Coinglass knowledge.
For the primary half, the New York-based firm posted web earnings of almost $245 million, a rise of greater than 175% on first-half 2023.
Galaxy’s Toronto-traded shares fell 10% on the day to C$14.89 as of 15:07 UTC.
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