Novogratz’s Crypto Firm Posted $272.7 Million Loss in 2018
By Olga Kharif
April 29, 2019, 10:50 AM EDT
Galaxy had $249.1 million in digital assets and investments as of Dec. 31, down from $323 million at the end of September, the New York-based company said in a statement Monday. The fourth-quarter decrease was primarily a result of $48.7 million of net realized losses on digital assets and $25.0 million of unrealized loss on investments.
"While 2018 was a challenging year for the industry, I am pleased with the ways in which our team navigated difficult market dynamics, and believe we are well positioned to scale our business strategically over time," Novogratz said in the release. "The first few months of 2019 have yielded a notable increase in activity across our business lines."
Mike Novogratz
Photographer: Victor J. Blue/Bloomberg
By Olga Kharif
April 29, 2019, 10:50 AM EDT
- About $133 million deployed in 35 investments last year
- Galaxy currently has no exposure to Bitfinex or Tether
Galaxy had $249.1 million in digital assets and investments as of Dec. 31, down from $323 million at the end of September, the New York-based company said in a statement Monday. The fourth-quarter decrease was primarily a result of $48.7 million of net realized losses on digital assets and $25.0 million of unrealized loss on investments.
"While 2018 was a challenging year for the industry, I am pleased with the ways in which our team navigated difficult market dynamics, and believe we are well positioned to scale our business strategically over time," Novogratz said in the release. "The first few months of 2019 have yielded a notable increase in activity across our business lines."
Mike Novogratz
Photographer: Victor J. Blue/Bloomberg
