01:57Digital asset financial services company Galaxy Digital posted a second-quarter net loss of $177 million, almost four times as wide as the year-earlier period, as crypto markets retreated.
The New York-based company, whose units include trading, asset management and investment banking, said it's still in the process of incorporating in Delaware and looking to list on Nasdaq. Last month itIts fortunes could be seen as a bellwether for the wider industry due to the array of different sectors it operates in.
Galaxy is among the issuers of spot bitcoin and ether ETFs in the U.S., which it has listed in partnership with investment manager Invesco. The bitcoin ETF has assets under management of $525 million, while its ether equivalent holds $15.3 million, according to data byFor the first half, the New York-based company posted net income of nearly $245 million, an increase of more than 175% on first-half 2023.
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Crypto Venture Capital Market Rebound Extends Into Second Quarter: GalaxyWill Canny is CoinDesk's finance reporter.
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