GalaxyDigital
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Galaxy Digital reports $296 million in net profit in 2023, after losing $1 billion the year before
As of the end of February this year, Galaxy Digital’s assets under management (AUM) surged to $10.1 billion.
Mike Novogratz's digital asset financial services company Galaxy Digital recently released financial statements showing a net profit of $29.6 million for the full year of 2023. This is a major turnaround after a loss of $1 billion in 2022.
The company said that the fourth quarter of 2023 is particularly turning point for the company.
In its official statement, Galaxy Digital said that there was a positive change in fortunes in the last quarter of 2023, pushing its net profit to $302 million.
This coincides with the much-needed rebound the crypto market is experiencing, with the market recovering from a long crypto winter.
As a result, the company's net income was $302 million. This contrasts with the $288 million loss reported in the same period last year.
Even in the third quarter of 2023, Galaxy suffered a loss of $94 million.
"Since the end of the fourth quarter of 2023, there have been significant changes in digital asset prices, and our business has benefited from increased market volatility and increased trading volumes."
Meanwhile, Galaxy also disclosed that its assets under management (AUM) were approximately $5.2 billion as of December 31, 2023, a year-over-year increase of 203%, primarily driven by net inflows of "newly managed opportunistic assets."
After the quarter ended, the company announced that preliminary assets under management reached a record $10.1 billion as of February 29, 2024.
This figure was driven by market appreciation over the same period, in addition to continued inflows from recently managed opportunistic assets. #GalaxyDigital
As of the end of February this year, Galaxy Digital’s assets under management (AUM) surged to $10.1 billion.
Mike Novogratz's digital asset financial services company Galaxy Digital recently released financial statements showing a net profit of $29.6 million for the full year of 2023. This is a major turnaround after a loss of $1 billion in 2022.
The company said that the fourth quarter of 2023 is particularly turning point for the company.
In its official statement, Galaxy Digital said that there was a positive change in fortunes in the last quarter of 2023, pushing its net profit to $302 million.
This coincides with the much-needed rebound the crypto market is experiencing, with the market recovering from a long crypto winter.
As a result, the company's net income was $302 million. This contrasts with the $288 million loss reported in the same period last year.
Even in the third quarter of 2023, Galaxy suffered a loss of $94 million.
"Since the end of the fourth quarter of 2023, there have been significant changes in digital asset prices, and our business has benefited from increased market volatility and increased trading volumes."
Meanwhile, Galaxy also disclosed that its assets under management (AUM) were approximately $5.2 billion as of December 31, 2023, a year-over-year increase of 203%, primarily driven by net inflows of "newly managed opportunistic assets."
After the quarter ended, the company announced that preliminary assets under management reached a record $10.1 billion as of February 29, 2024.
This figure was driven by market appreciation over the same period, in addition to continued inflows from recently managed opportunistic assets. #GalaxyDigital
#GalaxyDigital CEO Mike Novogratz says #JPMorgan CEO #JamieDimon has been proven wrong about #bitcoin after he said he would shut down #crypto if he were the government.
Galaxy Digital and Invesco Bitcoin Spot ETF Join BlackRock on DTCC
Post By: CryptosHeadlines.com
A new development: Another proposed Spot Bitcoin ETF is now listed on the Depository Trust and Clearing Corporation’s (DTCC) website, marking the second such ETF to appear on the corporation’s site.The Invesco Galaxy Bitcoin ETF, with the ticker ‘BTCO,’ has been added to the DTCC website. This comes after BlackRock’s spot Bitcoin ETF, known as ‘IBTC,’ was also listed. The uncertainty surrounding the approval of these funds is causing increased attention.
DTCC Listing of Bitcoin ETFs Doesn’t Guarantee Approval by SEC
Anticipation for BlackRock’s IBTC approval had grown, but it waned after a spokesperson clarified that the listings were routine and didn’t hint at SEC approval.
An ETF expert emphasized that the DTCC’s listing doesn’t carry significant meaning in the context of SEC approval for Bitcoin ETFs. It simply indicates that asset managers are getting ready in case the SEC grants approval.
Asset managers like BlackRock and VanEck have disclosed their intentions to start seeding their funds. Although this step doesn’t ensure that the SEC will approve these funds in the near future, it does reflect these companies’ optimism that their Spot Bitcoin ETFs will eventually launch.
Valkyrie Joins Spot Bitcoin ETF Amendment Trend
Bloomberg analyst James Seyffart noted that Valkyrie, an asset management firm, has joined others like ARK Invest, BlackRock, Fidelity, and Bitwise in amending their Spot Bitcoin ETF prospectus. These amendments have sparked speculation about the possibility of the SEC approving such a fund in the near future. ARK Invest was the first to make such amendments, leading to predictions that approval could come as early as next year.
BTC price hovering above $34,400 | Source: BTCUSD on Tradingview.com
The SEC has been quiet about Grayscale’s application, and the Commission is scheduled to have a closed meeting on November 2, which is its first meeting since the Grayscale deadline passed. One of the agenda items for the meeting is to address litigation claims, which could potentially involve Grayscale’s application.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#GalaxyDigital #Invesco #ETF #BlackRock #DTCC
A new development: Another proposed Spot Bitcoin ETF is now listed on the Depository Trust and Clearing Corporation’s (DTCC) website, marking the second such ETF to appear on the corporation’s site.The Invesco Galaxy Bitcoin ETF, with the ticker ‘BTCO,’ has been added to the DTCC website. This comes after BlackRock’s spot Bitcoin ETF, known as ‘IBTC,’ was also listed. The uncertainty surrounding the approval of these funds is causing increased attention.
DTCC Listing of Bitcoin ETFs Doesn’t Guarantee Approval by SEC
Anticipation for BlackRock’s IBTC approval had grown, but it waned after a spokesperson clarified that the listings were routine and didn’t hint at SEC approval.
An ETF expert emphasized that the DTCC’s listing doesn’t carry significant meaning in the context of SEC approval for Bitcoin ETFs. It simply indicates that asset managers are getting ready in case the SEC grants approval.
Asset managers like BlackRock and VanEck have disclosed their intentions to start seeding their funds. Although this step doesn’t ensure that the SEC will approve these funds in the near future, it does reflect these companies’ optimism that their Spot Bitcoin ETFs will eventually launch.
Valkyrie Joins Spot Bitcoin ETF Amendment Trend
Bloomberg analyst James Seyffart noted that Valkyrie, an asset management firm, has joined others like ARK Invest, BlackRock, Fidelity, and Bitwise in amending their Spot Bitcoin ETF prospectus. These amendments have sparked speculation about the possibility of the SEC approving such a fund in the near future. ARK Invest was the first to make such amendments, leading to predictions that approval could come as early as next year.
BTC price hovering above $34,400 | Source: BTCUSD on Tradingview.com
The SEC has been quiet about Grayscale’s application, and the Commission is scheduled to have a closed meeting on November 2, which is its first meeting since the Grayscale deadline passed. One of the agenda items for the meeting is to address litigation claims, which could potentially involve Grayscale’s application.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#GalaxyDigital #Invesco #ETF #BlackRock #DTCC
⚡ OP3N, a #Web3 #ai -powered platform, has raised $28M in the Series A investment round led by Animoca Brands
#AnimocaBrands has led the round with participation from Dragonfly Capital, SuperScrypt, Republic #crypto , #GalaxyDigital , The Spartan Group, and others.
#AnimocaBrands has led the round with participation from Dragonfly Capital, SuperScrypt, Republic #crypto , #GalaxyDigital , The Spartan Group, and others.
#GalaxyDigital has recently made a significant move in the cryptocurrency market by withdrawing 26,000 #ETH , valued at $76.2 million, from both #CoinbasePrime and #Binance .
This action, observed within the past 12 hours, indicates a strategic maneuver by GalaxyDigital, a prominent player in the crypto investment sphere.
Address: 0x15abb66ba754f05cbc0165a64a11cded1543de48
$ETH
This action, observed within the past 12 hours, indicates a strategic maneuver by GalaxyDigital, a prominent player in the crypto investment sphere.
Address: 0x15abb66ba754f05cbc0165a64a11cded1543de48
$ETH
⚡️ Superstate has raised $14M in funding led by CoinFund & Distributed Global
Superstate, a blockchain-based asset-management firm, raised $14M in a round led by CoinFund and Distributed Global, with participation from Arrington Capital, CMT Digital, Folius Ventures, Galaxy Digital, HackVC, Modular Capital, Nascent, and others. The funds will help to launch private funds for institutional investors, and create a framework for compliant, tokenized, publicly registered investment funds.
#Superstate #CoinFund #GalaxyDigital #tokenization #RWA
Superstate, a blockchain-based asset-management firm, raised $14M in a round led by CoinFund and Distributed Global, with participation from Arrington Capital, CMT Digital, Folius Ventures, Galaxy Digital, HackVC, Modular Capital, Nascent, and others. The funds will help to launch private funds for institutional investors, and create a framework for compliant, tokenized, publicly registered investment funds.
#Superstate #CoinFund #GalaxyDigital #tokenization #RWA
Marathon Digital ( #MarathonDH ) announced that they bought 4,144 BTC ($249M) at an average price of $59,500 from Aug 12 to Aug 14.
On-chain data shows that Marathon has received 3,896 #BTC ($227.9M) from #GalaxyDigital , #FalconX and #NYDIG .
On-chain data shows that Marathon has received 3,896 #BTC ($227.9M) from #GalaxyDigital , #FalconX and #NYDIG .
Breaking News: #GalaxyDigital Deposits 11,200 $ETH to #Binance
In the past hour, #GalaxyDigital made a significant move, depositing 11,200 ETH, equivalent to $24.3M, into Binance.
Wallet Address:
0x15abb66bA754F05cBC0165A64A11cDed1543dE48
Stay tuned for more updates!
In the past hour, #GalaxyDigital made a significant move, depositing 11,200 ETH, equivalent to $24.3M, into Binance.
Wallet Address:
0x15abb66bA754F05cBC0165A64A11cDed1543dE48
Stay tuned for more updates!
⚡️ Top Recent Crypto Fundraising Events
Blast - $20M
Privy - $18M
Matr1x - $10M
De.Fi - $5M
IntentX - $2.5M
Uniblock - $2.3M
Artifact - $2M
Zeal - TBA
Investors: Paradigm, Sequoia Capital, Archetype, Standard Crypto, Variant Fund, Framework Ventures, Galaxy Digital, IOSG Ventures, Magnus Capital, Folius Ventures, HTX Ventures, OKX Ventures, and others.
#fundraising #Paradigm #Sequoia #GalaxyDigital #Funds
Blast - $20M
Privy - $18M
Matr1x - $10M
De.Fi - $5M
IntentX - $2.5M
Uniblock - $2.3M
Artifact - $2M
Zeal - TBA
Investors: Paradigm, Sequoia Capital, Archetype, Standard Crypto, Variant Fund, Framework Ventures, Galaxy Digital, IOSG Ventures, Magnus Capital, Folius Ventures, HTX Ventures, OKX Ventures, and others.
#fundraising #Paradigm #Sequoia #GalaxyDigital #Funds
Galaxy Digital Makes a Bold Move in the Crypto Market!
Mike Novogratz's Galaxy Digital has just made a significant investment in Bitcoin, purchasing 400 BTC worth $23.4 million ¹. This move comes despite Bitcoin's recent dip below $59K, showcasing Galaxy Digital's confidence in the cryptocurrency's potential.
A Strategic Acquisition:
Galaxy Digital's wallet now holds an impressive 3,150 BTC, valued at $184.56 million ¹. This acquisition not only demonstrates the company's commitment to cryptocurrency but also sends a positive signal to investors.
Market Impact:
This bold move by Galaxy Digital is expected to intensify investor optimism, potentially leading to increased adoption and investment in Bitcoin ¹. The cryptocurrency market is closely watching Galaxy Digital's strategies, and this acquisition reinforces their position as a key player.
A Vote of Confidence:
Mike Novogratz, CEO of Galaxy Digital, has long been a vocal advocate for cryptocurrency ². This acquisition solidifies his confidence in Bitcoin's potential, encouraging others to explore the opportunities in the crypto market.
Stay Ahead in the Crypto Game!
As the crypto landscape evolves, Galaxy Digital's strategic moves provide valuable insights for investors and enthusiasts alike. Keep a close eye on their developments to stay ahead in the game!
#MikeNovogratz #GalaxyDigital #Bitcoininvestment #GalaxyDigitalHoldings #bitcoinbullrun2024
A Strategic Acquisition:
Galaxy Digital's wallet now holds an impressive 3,150 BTC, valued at $184.56 million ¹. This acquisition not only demonstrates the company's commitment to cryptocurrency but also sends a positive signal to investors.
Market Impact:
This bold move by Galaxy Digital is expected to intensify investor optimism, potentially leading to increased adoption and investment in Bitcoin ¹. The cryptocurrency market is closely watching Galaxy Digital's strategies, and this acquisition reinforces their position as a key player.
A Vote of Confidence:
Mike Novogratz, CEO of Galaxy Digital, has long been a vocal advocate for cryptocurrency ². This acquisition solidifies his confidence in Bitcoin's potential, encouraging others to explore the opportunities in the crypto market.
Stay Ahead in the Crypto Game!
As the crypto landscape evolves, Galaxy Digital's strategic moves provide valuable insights for investors and enthusiasts alike. Keep a close eye on their developments to stay ahead in the game!
#MikeNovogratz #GalaxyDigital #Bitcoininvestment #GalaxyDigitalHoldings #bitcoinbullrun2024
Galaxy Digital acquires $1 Billion in Ethereum Tokens from CryptoManufaktur
#GalaxyDigital has acquired nearly $1 billion worth of #Ethereum tokens from #CryptoManufaktur (CMF), increasing its stake in the cryptocurrency market by about 43%. The move comes ahead of the anticipated launch of spot Ethereum ETFs in the U.S. next week, which could impact Ethereum's market dynamics.
#GalaxyDigital has acquired nearly $1 billion worth of #Ethereum tokens from #CryptoManufaktur (CMF), increasing its stake in the cryptocurrency market by about 43%. The move comes ahead of the anticipated launch of spot Ethereum ETFs in the U.S. next week, which could impact Ethereum's market dynamics.
Galaxy Digital Also Invested in Bitcoin's UptrendConsidering Bitcoin's ongoing price rise, some investors and institutions are optimistic that the rise will continue. Galaxy Digital is among these institutions. With its latest actions, Galaxy Digital opened a long position in Bitcoin and deposited a total of 4,162 into (AAVE) and Compound.
Considering Bitcoin's ongoing price rise, some investors and institutions are optimistic that the rise will continue. Galaxy Digital is among these institutions. With its latest actions, Galaxy Digital opened a long position in and deposited a total of 4,162 BTC into Aave (AAVE) and Compound.
This shows that is investing on the increasing price of Bitcoin. Bitcoin has maintained a positive funding rate over the past few days, with the funding rate falling after hitting an almost five-month high. However, it has continued to remain above this level in recent months.
The last few days have witnessed more liquidations despite investors taking long positions in Bitcoin. Specifically, on October 26, long position liquidations exceeded $20 million and short position liquidations exceeded $9 million.
Bitcoin's price saw an increase of less than 1% on October 28, and this came after two days of downtrend. However, Bitcoin continued its downtrend, falling less than 1%. Bitcoin has managed to keep its price above $34,000 and given the current uptrend, a price correction is likely.
Considering Bitcoin's ongoing price rise, some investors and institutions are optimistic that the rise will continue. Galaxy Digital is among these institutions. With its latest actions, Galaxy Digital opened a long position in and deposited a total of 4,162 BTC into Aave (AAVE) and Compound.
This shows that is investing on the increasing price of Bitcoin. Bitcoin has maintained a positive funding rate over the past few days, with the funding rate falling after hitting an almost five-month high. However, it has continued to remain above this level in recent months.
The last few days have witnessed more liquidations despite investors taking long positions in Bitcoin. Specifically, on October 26, long position liquidations exceeded $20 million and short position liquidations exceeded $9 million.
Bitcoin's price saw an increase of less than 1% on October 28, and this came after two days of downtrend. However, Bitcoin continued its downtrend, falling less than 1%. Bitcoin has managed to keep its price above $34,000 and given the current uptrend, a price correction is likely.
On-chain data shows that #GalaxyDigital withdrew 26K $ETH ($76.2M) from #CoinbasePrime and #Binance in the past 12 hours.
#Write2Earn #strk
#Write2Earn #strk
Galaxy Digital; Led by Mike Novogratz – Betting Big on Bitcoin and Ethereum: Lookonchain
Post By: CryptosHeadlines.com
Mike Novogratz’s Galaxy Digital is taking a positive stance on Bitcoin and Ethereum by participating in decentralized lending platforms Aave and Compound, as reported by Lookonchain.The CEO, Mike Novogratz, has been vocal about his optimism for the crypto market and his belief that the U.S. SEC will greenlight a spot Bitcoin ETF in the near future. According to on-chain data, Galaxy Digital’s investments reflect their confidence in Bitcoin and Ethereum.
Galaxy Digital Holds Bullish Positions in Bitcoin, Ethereum, Aave, and Compound
Mike Novogratz’s crypto investment firm, Galaxy Digital, has taken long positions in Bitcoin (BTC) and Ethereum (ETH) on decentralized lending platforms Aave and Compound, according to Lookonchain’s report on October 28.
Data from Debank suggests that Galaxy Digital deposited 4,168 Wrapped Bitcoin (WBTC) worth $142 million and 16,000 ETH valued at $28.6 million into Aave and Compound. They borrowed 71.6 million USDT and 21.9 million USDC from these platforms.
This move by Galaxy Digital, diversifying its positions in Bitcoin and Ethereum while utilizing Aave and Compound, is seen as a bullish development for the decentralized finance (DeFi) sector.
As a result, AAVE and COMP tokens have experienced a 5% and 3% increase in the past 24 hours, respectively. These gains have been part of a broader rally in Aave and Compound prices, with increases of over 20% and 12%, respectively, likely driven by the recent surge in the crypto market following the news about a Bitcoin ETF.
Mike Novogratz is optimistic that the constructive discussions between Bitcoin ETF issuers and the U.S. SEC signal the approval of a spot Bitcoin ETF in 2023. He believes it’s just a matter of when, not if.
Potential Rally Ahead for Bitcoin and Ethereum Prices
Galaxy Digital predicts that a spot Bitcoin ETF could bring in $14.4 billion in the first year after it’s issued.They also believe that the price of Bitcoin (BTC) could surge by about 74.1% during the first year following the launch of a spot Bitcoin ETF in the United States.
Currently, BTC is trading at $34,239, which is a 0.70% increase in the last 24 hours and a 15% rise in the past week. Another research report from Matrixport suggests that Bitcoin might reach $45,000 in 2023 and $125,000 by December 2024.
Ethereum (ETH) has seen a 0.70% increase in the past 24 hours, with its price now at $1,788.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#Bitcoin #CryptoNews #GalaxyDigital #Ethereum #Lookonchain
Mike Novogratz’s Galaxy Digital is taking a positive stance on Bitcoin and Ethereum by participating in decentralized lending platforms Aave and Compound, as reported by Lookonchain.The CEO, Mike Novogratz, has been vocal about his optimism for the crypto market and his belief that the U.S. SEC will greenlight a spot Bitcoin ETF in the near future. According to on-chain data, Galaxy Digital’s investments reflect their confidence in Bitcoin and Ethereum.
Galaxy Digital Holds Bullish Positions in Bitcoin, Ethereum, Aave, and Compound
Mike Novogratz’s crypto investment firm, Galaxy Digital, has taken long positions in Bitcoin (BTC) and Ethereum (ETH) on decentralized lending platforms Aave and Compound, according to Lookonchain’s report on October 28.
Data from Debank suggests that Galaxy Digital deposited 4,168 Wrapped Bitcoin (WBTC) worth $142 million and 16,000 ETH valued at $28.6 million into Aave and Compound. They borrowed 71.6 million USDT and 21.9 million USDC from these platforms.
This move by Galaxy Digital, diversifying its positions in Bitcoin and Ethereum while utilizing Aave and Compound, is seen as a bullish development for the decentralized finance (DeFi) sector.
As a result, AAVE and COMP tokens have experienced a 5% and 3% increase in the past 24 hours, respectively. These gains have been part of a broader rally in Aave and Compound prices, with increases of over 20% and 12%, respectively, likely driven by the recent surge in the crypto market following the news about a Bitcoin ETF.
Mike Novogratz is optimistic that the constructive discussions between Bitcoin ETF issuers and the U.S. SEC signal the approval of a spot Bitcoin ETF in 2023. He believes it’s just a matter of when, not if.
Potential Rally Ahead for Bitcoin and Ethereum Prices
Galaxy Digital predicts that a spot Bitcoin ETF could bring in $14.4 billion in the first year after it’s issued.They also believe that the price of Bitcoin (BTC) could surge by about 74.1% during the first year following the launch of a spot Bitcoin ETF in the United States.
Currently, BTC is trading at $34,239, which is a 0.70% increase in the last 24 hours and a 15% rise in the past week. Another research report from Matrixport suggests that Bitcoin might reach $45,000 in 2023 and $125,000 by December 2024.
Ethereum (ETH) has seen a 0.70% increase in the past 24 hours, with its price now at $1,788.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#Bitcoin #CryptoNews #GalaxyDigital #Ethereum #Lookonchain
Galaxy Digital CEO Mike Novogratz Admits Being 'Dead Wrong' About XRP and Ripple.
#WebGTR #GalaxyDigital #MikeNovogratz #BinanceTournament #FET
#WebGTR #GalaxyDigital #MikeNovogratz #BinanceTournament #FET
Breaking News:
#GalaxyDigital Deposits 11,200 $ETH to #Binance
In the past hour, GalaxyDigital made a significant move, depositing 11,200 ETH, equivalent to $24.3M, into Binance.
Wallet Address:
0x15abb66bA754F05cBC0165A64A11cDed1543dE48
Stay tuned for more updates!
#CryptoNews #Ethereum #WhaleAlert
$BTC $SOL
#GalaxyDigital Deposits 11,200 $ETH to #Binance
In the past hour, GalaxyDigital made a significant move, depositing 11,200 ETH, equivalent to $24.3M, into Binance.
Wallet Address:
0x15abb66bA754F05cBC0165A64A11cDed1543dE48
Stay tuned for more updates!
#CryptoNews #Ethereum #WhaleAlert
$BTC $SOL
🚀📈 GalaxyDigital's Bold Move: Deposits 13,200 #ETH ($28.7M) to #Binance ! 🌌💼
In a strategic move, #GalaxyDigital , a major player in the crypto sphere, has deposited a whopping 13,200 $ETH to Binance in the last two hours. Here's a quick recap of this bold maneuver:👇
💼 GalaxyDigital's #Ethereum Deposit:
Amount: 13,200 ETH
Value: $28.7 Million
Destination: Binance
🌐 Address: 👇
0x15abb66ba754f05cbc0165a64a11cded1543de48
📊 Strategic Insights:
Such sizable deposits often signal confidence or strategic moves within the crypto landscape. GalaxyDigital's activity could be indicative of upcoming developments, investment strategies, or portfolio adjustments.
🚨 Disclaimer:
Crypto markets are dynamic, and transactions by major entities may influence market sentiment. This information is provided for informational purposes only and is not financial advice. It's crucial to conduct thorough research before making any investment decisions.
🌐 Stay tuned for more crypto insights and market moves! 🌐🚀
😍 A small LIKE and FOLLOW, Motivates me a lot 😍
In a strategic move, #GalaxyDigital , a major player in the crypto sphere, has deposited a whopping 13,200 $ETH to Binance in the last two hours. Here's a quick recap of this bold maneuver:👇
💼 GalaxyDigital's #Ethereum Deposit:
Amount: 13,200 ETH
Value: $28.7 Million
Destination: Binance
🌐 Address: 👇
0x15abb66ba754f05cbc0165a64a11cded1543de48
📊 Strategic Insights:
Such sizable deposits often signal confidence or strategic moves within the crypto landscape. GalaxyDigital's activity could be indicative of upcoming developments, investment strategies, or portfolio adjustments.
🚨 Disclaimer:
Crypto markets are dynamic, and transactions by major entities may influence market sentiment. This information is provided for informational purposes only and is not financial advice. It's crucial to conduct thorough research before making any investment decisions.
🌐 Stay tuned for more crypto insights and market moves! 🌐🚀
😍 A small LIKE and FOLLOW, Motivates me a lot 😍
Galaxy Bounces Back With $150M Preliminary Pre-Tax Income In Q1 2023 After $1B Net Loss In 2022
Galaxy Digital Holdings Ltd. has announced its financial results for the year ended December 31, 2022, for both Galaxy Digital Holdings LP and itself. The company’s founder and CEO, Michael Novogratz, stated that 2022 was a pivotal year for the company, and despite the unprecedented macroeconomic events faced by the industry, it successfully stayed on course and took advantage of strategic opportunities to build its operating businesses for the future. Novogratz expressed confidence in the company’s go-forward strategy, businesses, and team.
Galaxy Digital Holdings LP generated about $150 million in income before tax as of March 24, 2023. The company maintained a strong liquidity position after recent disruptions in the commercial banking sector. Galaxy Digital Holdings Ltd. anticipates net profits for the first quarter of 2023 in its operating businesses and positive gains from its balance sheet holdings of liquid coins and investments.
The company’s trading operating business benefited from heightened market volatility and increased volumes from existing counterparties. Furthermore, Galaxy Mining has doubled its capacity since the beginning of the year, and by the end of 2023, it expects to have more than 4 EH/s of Hashrate Under Management.
Galaxy Digital Holdings LP’s net loss was $287.8 million for the fourth quarter of 2022, compared to a net income of $521.3 million in the prior year’s period. For the year ended December 31, 2022, net loss was $1.0 billion, compared to a net income of $1.7 billion for the year ended December 31, 2021. The loss was primarily due to unrealized marks to market on investments in the company’s Principal Investments portfolio, driven by depressed market conditions.
Galaxy Digital Holdings Ltd. maintained a strong liquidity position of $957 million as of December 31, 2022, including $542.1 million in cash and a net digital assets position of $415 million. However, the net digital assets balance of $415 million at December 31, 2022, was lower than the $1.2 billion at the end of the prior year.
Galaxy Trading reported continued growth of counterparty count and strong operational net revenue contributions. The company’s cumulative gross counterparty loan originations were approximately $370 million within the quarter.
The value of GT’s counterparty loan and yield portfolio decreased approximately 8% quarter over quarter. The company is focused on the strategic build-out of GalaxyOne, its unified, client-centric prime-brokerage platform for digital assets. A beta version of the trading component of the platform will be released to select customers in the second quarter of 2023.
Galaxy Asset Management reported preliminary assets under management of approximately $1.7 billion as of December 31, 2022, a 14% decrease from the previous year.
#GalaxyDigital #Galaxy #Novogratz #BTC #azcoinnews
This article was republished from azcoinnews.com
Galaxy Digital Holdings LP generated about $150 million in income before tax as of March 24, 2023. The company maintained a strong liquidity position after recent disruptions in the commercial banking sector. Galaxy Digital Holdings Ltd. anticipates net profits for the first quarter of 2023 in its operating businesses and positive gains from its balance sheet holdings of liquid coins and investments.
The company’s trading operating business benefited from heightened market volatility and increased volumes from existing counterparties. Furthermore, Galaxy Mining has doubled its capacity since the beginning of the year, and by the end of 2023, it expects to have more than 4 EH/s of Hashrate Under Management.
Galaxy Digital Holdings LP’s net loss was $287.8 million for the fourth quarter of 2022, compared to a net income of $521.3 million in the prior year’s period. For the year ended December 31, 2022, net loss was $1.0 billion, compared to a net income of $1.7 billion for the year ended December 31, 2021. The loss was primarily due to unrealized marks to market on investments in the company’s Principal Investments portfolio, driven by depressed market conditions.
Galaxy Digital Holdings Ltd. maintained a strong liquidity position of $957 million as of December 31, 2022, including $542.1 million in cash and a net digital assets position of $415 million. However, the net digital assets balance of $415 million at December 31, 2022, was lower than the $1.2 billion at the end of the prior year.
Galaxy Trading reported continued growth of counterparty count and strong operational net revenue contributions. The company’s cumulative gross counterparty loan originations were approximately $370 million within the quarter.
The value of GT’s counterparty loan and yield portfolio decreased approximately 8% quarter over quarter. The company is focused on the strategic build-out of GalaxyOne, its unified, client-centric prime-brokerage platform for digital assets. A beta version of the trading component of the platform will be released to select customers in the second quarter of 2023.
Galaxy Asset Management reported preliminary assets under management of approximately $1.7 billion as of December 31, 2022, a 14% decrease from the previous year.
#GalaxyDigital #Galaxy #Novogratz #BTC #azcoinnews
This article was republished from azcoinnews.com
🚀 $900 BILLION DWS LAUNCHES PHYSICAL BITCOIN ETC IN GERMANY 🚀
Germany joins the US and Great Britain in launching a new physically backed Bitcoin product this year, as DWS, a leading asset manager with over $900 billion in assets under management, introduces Xtrackers Exchange-Traded Commodities (ETC) in collaboration with Galaxy Digital Holdings Ltd.
"Digital assets have evolved from a niche technology innovation to a globally recognized asset class," said Manfred Bauer, Global Head of DWS’ Product Division. With Bitcoin and Ethereum's combined market capitalization exceeding $1.7 trillion, they are now too significant for investors to ignore.
The Xtrackers Galaxy Physical Bitcoin ETC is now listed on Deutsche Börse, offering investors direct participation in the Bitcoin market with the security and transparency of exchange-traded products. Backed by BTC, investors gain direct exposure to Bitcoin's price movements.
DWS strategically partnered with Galaxy to promote Bitcoin adoption in Europe, leveraging Galaxy's expertise in digital asset products and services. "We are delighted to offer investors institutional-grade access to digital assets," said Steve Kurz, Global Head of Asset Management at Galaxy.
State Street serves as the Issuing and Paying Agent and Administration Agent for these ETCs, with MSCI providing reference prices for Bitcoin. The ETCs are 1:1 physically backed and utilize cryptocurrency custodians Zodia Custody and Coinbase for secure storage in offline custody accounts. The ETCs boast an annual product fee of 0.35%.
Stay updated with Professor Mende! 💼🌐
#Bitcoin #CryptoETF #Germany #DWS #GalaxyDigital
Germany joins the US and Great Britain in launching a new physically backed Bitcoin product this year, as DWS, a leading asset manager with over $900 billion in assets under management, introduces Xtrackers Exchange-Traded Commodities (ETC) in collaboration with Galaxy Digital Holdings Ltd.
"Digital assets have evolved from a niche technology innovation to a globally recognized asset class," said Manfred Bauer, Global Head of DWS’ Product Division. With Bitcoin and Ethereum's combined market capitalization exceeding $1.7 trillion, they are now too significant for investors to ignore.
The Xtrackers Galaxy Physical Bitcoin ETC is now listed on Deutsche Börse, offering investors direct participation in the Bitcoin market with the security and transparency of exchange-traded products. Backed by BTC, investors gain direct exposure to Bitcoin's price movements.
DWS strategically partnered with Galaxy to promote Bitcoin adoption in Europe, leveraging Galaxy's expertise in digital asset products and services. "We are delighted to offer investors institutional-grade access to digital assets," said Steve Kurz, Global Head of Asset Management at Galaxy.
State Street serves as the Issuing and Paying Agent and Administration Agent for these ETCs, with MSCI providing reference prices for Bitcoin. The ETCs are 1:1 physically backed and utilize cryptocurrency custodians Zodia Custody and Coinbase for secure storage in offline custody accounts. The ETCs boast an annual product fee of 0.35%.
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#Bitcoin #CryptoETF #Germany #DWS #GalaxyDigital
Galaxy Digital Makes a $BANANA Move! 🍌
It looks like Galaxy Digital is getting involved in the #BANANA game! 👀 They've just deposited a hefty 25,000 BANANA tokens, worth around $1.21 million, to #Binance . 🐳💦 Interestingly, this wallet also received a larger chunk of BANANA from the Banana Gun Treasury just a few hours prior. 😤
This could be a sign of a potential OTC deal, as Galaxy Digital isn't known for market-making activities. 🤷
It'll be interesting to see what Galaxy Digital plans to do with these BANANA tokens. 💻💪DYOR! #GalaxyDigital #Altcoins
Credit: SpotOnChain 🙏
It looks like Galaxy Digital is getting involved in the #BANANA game! 👀 They've just deposited a hefty 25,000 BANANA tokens, worth around $1.21 million, to #Binance . 🐳💦 Interestingly, this wallet also received a larger chunk of BANANA from the Banana Gun Treasury just a few hours prior. 😤
This could be a sign of a potential OTC deal, as Galaxy Digital isn't known for market-making activities. 🤷
It'll be interesting to see what Galaxy Digital plans to do with these BANANA tokens. 💻💪DYOR! #GalaxyDigital #Altcoins
Credit: SpotOnChain 🙏
