🔻 Crypto merchant bank Galaxy Digital lost $134 million in Q1 2018
Mike Novogratz's crypto-focused merchant bank Galaxy Digital released its quarterly report for 2018, posting a $134 million loss as crypto markets entered a bear market according to Bloomberg. Galaxy Digital lost $13.5 million in its trading business, with $85.5 million of unrealized loss on digital assets, $1.1 million in paper losses on investments, and $22.9 million in paper loss on investments in its principal investing business.
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