Galaxy Digital reports $112 million quarterly loss as crypto prices drop

Quick Take

  • Trading volumes dropped 30% compared to the previous quarter despite the onboarding of 50 new counterparties.

  • However, the financial services firm’s mining arm earned a record revenue of $9.8 million.

     

Galaxy Digital swung to a first-quarter loss as tumbling crypto prices forced the firm to book unrealized trading losses. 

The crypto-focused trading and investme