Galaxy Digital Holdings’ cumulative loss in the second quarter was $554.7 million, compared to $182.9 million in the same period last year.

The indicator includes net income and unrealized income.

The company announced the result with a decrease in the capitalization of the crypto market and a negative reassessment of investments in startups that exceeded the profits of the mining business.

In the April-June period, assets under management increased by 23% to $1.8 billion.

Affiliate trade volume, QoQ fell 15% and 35% year over year.

The number of investment rounds in which Galaxy Digital took part reached 141. The company supported more than 100 startups.

“I am proud of the Galaxy’s performance in challenging market and macro conditions. […] We managed to secure over $1.5 billion in liquidity, with more than $1 billion in cash.” Galaxy Digital CEO Mike Novogratz said.

The company has confirmed its commitment to restructuring plans with registration in the US state of Delaware. Subsequently, Galaxy Digital plans to acquire a stake in the Nasdaq.

Recall that in July, Novogratz doubted Bitcoin’s drop to $13,000.

Previously, the CEO of Galaxy Digital had predicted that the stagnation in the cryptocurrency market would continue for 18 months. According to him, the sector will see the first signs of recovery after the monetary policy loosening. fed.

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