$58 million: 3 quarters profit of Mike Novogratz crypto bank

by in Cryptocurrency News

Mike Novogratz bank

The net cumulative income of Galaxy Digital, the cryptocurrency trading bank for the first nine months of this year, was $58.4 million, despite a net loss of $68.2 million in the third quarter.

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The most problematic enterprise for Galaxy in the third quarter was the OTC platform. It accounts for $43.3 million of total losses. The trading division attracted 47% more counterparties than in the second quarter.

On September 30, Galaxy Digital managed assets of $336 million, of which $325 million were in the EOS Fund. In the third quarter, this fund made several investments in Loopland Group Holding, Verisart, Immutable, Predictive Pop and FinCo Services.

The value of digital assets in the company's portfolio amounted to $133.5 million, $63.7 million more than at the end of last year.

Recall that in May Galaxy Digital sold its stake in Block.one startup for $71.2 million. In percentage terms, the deal’s return was 123%.