.GalaxyDigital posted a liquidity and capital update in light of recent market conditions, predicting a quarter-to-date loss of $300 million. By JamieCrawleyCD
Cryptocurrency-focused financial services firm Galaxy Digital said it expects the quarter-to-date loss through Wednesday to be about $300 million.Galaxy specified that its treasury does not utilize algorithmic stablecoins. TheterraUSD and its sister token LUNA has been at the center of the sharp downturn in the crypto asset market in recent days.
The company has a liquidity position of around $1.6 billion, split 50/50 between cash and net digital assets,"with the majority of net digital assets in non-algorithmic stablecoins." "Net comprehensive income is expected to be a loss of approximately $300 million, bringing partners' capital to $2.2 billion, a decline of 12% versus March 31, 2022," Galaxy announced.
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