RATE Group | Giant Bitcoin Merchant Bank Posts Losses Over $130 Million
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Giant Bitcoin Merchant Bank Posts Losses Over $130 Million

28 Jul Giant Bitcoin Merchant Bank Posts Losses Over $130 Million

Posted at 16:51h in Bitcoin News by

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Giant Crypto Merchant Bank Posts Losses of More than $130 Million

Finance

Galaxy Digital, one of the earliest and largest cryptocurrency merchant banks in the space, founded by billionaire Mike Novogratz, posted first quarter earnings. Published accounts suggest the firm has lost $134 million due to a combination of an extended bear market and the usual course of starting a large company. Many analysts wonder aloud what this means for the fate of institutional investment in crypto. 

Also read: Ross Ulbricht Murder-for-Hire Indictment to Be Dismissed

Crypto Merchant Bank Galaxy Digital Posts Q1 Losses of Over $130 Million

“I am very proud of the progress that we have made since the beginning of the year,” Galazy Digital CEO and founder, billionaire Mike Novogratz explained at a first quarter earnings call…

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