The significant loss was attributed to an unrealized loss of $659 million on digital assets, as well as $496 million on investments in the company\u2019s Principal Investments Portfolio. The massive decline in the price of digital assets throughout 2022 was identified as a driving factor for the same. <\/p>\n\n\n\n
2022 was a formative year for Galaxy, and while we and our industry faced unprecedented macroeconomic events, we succeeded in staying the course and were able to opportunistically take advantage of strategic opportunities to build our operating businesses for the future.\u201d <\/p>Mike Novogratz, founder and CEO.\u00a0<\/cite><\/blockquote>\n\n\n\nThe new year has fared much better for Galaxy Digital, as the firm reported a pre-tax income of $150 million while retaining a strong liquidity position through 24 March 2023. The company expects to see more profits in its operating businesses thanks to positive gains from the digital assets on its balance sheet. Furthermore, the company revealed that Galaxy Mining had doubled its capacity since the beginning of 2023. Galaxy Digital\u2019s share price has seen a 2.47% hike, after a brief fall at market open.<\/p>\n","protected":false},"excerpt":{"rendered":"
Mike Novogratz’s Galaxy Digital posted a net loss of $1 billion for the year ended December 31, 2022. The company reported a pre-tax income of $150 million for the first quarter of 2023. <\/p>\n","protected":false},"author":62,"featured_media":581534,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[17,2],"tags":[7301,3442,1880],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/581532"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/62"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=581532"}],"version-history":[{"count":2,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/581532\/revisions"}],"predecessor-version":[{"id":581535,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/581532\/revisions\/581535"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/581534"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=581532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=581532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=581532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}