Galaxy Digital’s Q1 Revenue Grew Twice

by in Cryptocurrency News

Galaxy Digital Q1 2021

New York-based financial services provider Galaxy Digital which is centered on digital assets, cryptocurrencies, and blockchain, presented the outcomes of the first quarter of 2021.

Related: Coinbase Announced $1.25 B Public Debt Offering

The company's Chief Executive Officer Michael Novogratz states that the firm's net income reached $860 M. Last quarter's indicator was $336 M, which means double progress. AUM grew by 58% and counterparty loan activities surpassed 510%.

On May 4, Galaxy Digital purchased digital asset trust company BitGo. Michael Novogratz said that by the purchase the company becomes the

first digital asset network that offers a complete range of services for institutions and ensures wider endorsement.

Earlier, in April the company filed an application with the US SEC to launch Bitcoin ETF.

From March it initiated BTC mining operations partnering with blockchain technology firm Blockstream. Amid the discussions of Bitcoin using a lot of energy and being bad for the environment, Galaxy Digital published a report that points out the fact that banks and gold use far more energy.