Big Loss from Galaxy Digital! Novogratz Praises Bitcoin Once Again

Galaxy Digital founder Mike Novogratz, spoke to the press during the announcement of the company’s 2022 last quarter earnings report. The billionaire, who is closely followed by crypto investors, said that the banking crisis that broke out in the USA last week was in the crypto market. “for an adrenaline rush” stated that it caused

Galaxy Digital Announces Loss Above Expected

Playing a pioneering role in blockchain finance Galaxy Digitalannounced a loss above analyst expectations. It turned out that the company made an annual loss of $ 1 billion with the publication of the 2022 Q4 balance sheet. Galaxy had a net profit of $1.7 billion in 2021.

According to quarterly reports, the blockchain company’s losses were limited as cryptocurrency prices were relatively high in the first part of the year. However, the big drops that took place in the summer had a negative impact on Galaxy Digital.

Chief Investment Officer Christopher Ferraro said the company’s bitcoin He stressed that he was recovering with According to Ferraro, transaction volume is increasing day by day.

“Crisis Revealed Vulnerability”

Speaking about the banking crisis after the quarterly report, Mike Novogratz said: “Bitcoin is getting more resilient” is thinking.

“There is nothing like a banking crisis in the United States… We are reminded once again how fragile the traditional financial system is.”

Novogratz stated that cryptocurrencies emerged for exactly this reason.