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Novogratz’s Galaxy Digital Braces for $300 Million Hit This Quarter

  • The firm gave an update “in light of recent market conditions”
  • Its founder Mike Novogratz is personally interested in Terra
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Novogratz on Bitcoin Volatility, Pain in Markets

Galaxy Digital Holdings Ltd. is anticipating a loss of $300 million in net comprehensive income this quarter, as uncertainty swirls across the broader cryptosphere.    

The crypto merchant bank revealed the potential hit in a preliminary update released Friday “in light of recent market conditions.” Comprehensive income typically combines both a company’s net income as well as any yet-to-be realized financial gains or losses.