{"id":78511,"date":"2023-05-09T20:06:20","date_gmt":"2023-05-09T17:06:20","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=78511"},"modified":"2025-09-11T05:36:17","modified_gmt":"2025-09-11T02:36:17","slug":"galaxy-digital-posts-134-million-profit-in-q1-2023","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/galaxy-digital-posts-134-million-profit-in-q1-2023\/","title":{"rendered":"Galaxy Digital posts $134 million profit in Q1 2023"},"content":{"rendered":"

Led by Mike Novogratz, Galaxy Digital posted its first profit since 2021, with first-quarter profit totaling $134 million. In a press release<\/a>, the company said this.<\/p>\n

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Revenue was largely driven by the rise in the value of digital assets and unrealised investment gains,” said representatives of the firm.<\/p>\n<\/blockquote>\n

Net loss for the first three months of 2022 was $111.7 million, while the previous quarter’s result was -$288 million.<\/p>\n

Assets under management by Galaxy Digital Asset Management totaled $2.4 billion, up 40% from the prior quarter.<\/p>\n

The company’s liquid assets include $400 million in cash and $414 million in digital assets ($209 million of which are non-algorithmic stablecoins).<\/p>\n

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“The balance of cash and stablecoins was $214 million below year-end levels largely due to a sizeable amount of outstanding fiat loans, the payment for the acquisition of GK8<\/a> and investments,” said Galaxy Digital representatives.<\/p>\n<\/blockquote>\n

As reported in 2022, Novogratz’s company net loss amounted to $1 billion<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Led by Mike Novogratz, Galaxy Digital posted its first profit since 2021, with first-quarter profit totaling $134 million.<\/p>\n","protected":false},"author":1,"featured_media":78512,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[770],"class_list":["post-78511","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-galaxy-digital"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78511","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=78511"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78511\/revisions"}],"predecessor-version":[{"id":78513,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78511\/revisions\/78513"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/78512"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=78511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=78511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=78511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}