Cryptobank Galaxy Digital Holdings losses since the beginning of the year amounted to $ 136 million

For nine months from the beginning of this year, the losses of the cryptobank Galaxy Digital Holdings headed by Mike Novograts totaled $ 136 million, reports Bloomberg .

Net realized and unrealized losses of the company in the third quarter alone amounted to $ 41 million. According to representatives of Galaxy Digital, the losses are associated with unsuccessful investments in Bitcoin, Ethereum and XRP. Among other reasons for such negative financial results, companies note low trading volumes and increased competition for the possibility of arbitration.

Also, according to statements, the current market value of digital assets minus short positions is $ 90.6 million. The total value of assets is $ 172.7 million.

Shares of the company are listed on the Toronto Stock Exchange. Now they are trading at record lows:

So, only in November, the Galaxy Digital stock price sank by 55%.

According to The Block , yesterday the stock trading in Galaxy Digital shares stopped for a while. This happened after within two hours the stock price sank 18.6%.

Earlier, BlockchainJournal reported that Galaxy Digital will refuse to work with small startups and ICO projects in favor of large companies.

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