What would you do if you lost $112 million? Crypto's volatility hits everyone, even institutions as big as GalaxyDigitalHQ. See what it reported for Q1.
, the company announced Monday. In addition to unrealized losses in its digital asset portfolio, Galaxy’s overall losses were also attributed to investments in its trading and investment businesses.
The firm did report aggregate profitability for its asset management, investment banking and mining operations. Investment banking and mining posted record revenue and net comprehensive income during the quarter. Assets under management held by Galaxy Digital Asset Management declined 5% during the quarter to $2.7 billion.
Galaxy’s declining profitability in the first quarter reflected extreme volatility in the digital asset market as Bitcoin (
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