Galaxy Digital Reports $482 Million Loss Despite Cash Reserves Increase

Galaxy Digital suffered a $482 million deficit but saw a 36% rise in cash and stablecoin reserves, boosted by recent equity raises.

Galaxy Digital, led by prominent investor Mike Novogratz, has reported a staggering loss of $482 million for the recent quarter. Despite this financial setback, the firm managed to expand its cash and stablecoin holdings by an impressive 36% compared to the preceding quarter, primarily driven by successful equity raises.