TechFlow news, according to Bloomberg, Galaxy Digital Holdings, the crypto financial services company led by Michael Novogratz, reported a net loss of $94 million in the third quarter, compared to a net loss of approximately $68 million in the same period last year. The company had lost about $46 million in the second quarter. Market expectations had generally predicted Galaxy's loss would stabilize around $44 million.
Galaxy offers a range of services including cryptocurrency trading, asset management, and mining. It reported trading revenue of $14 million for the quarter, down $6 million from the previous quarter. However, the company stated that its financial performance has significantly improved since the end of the quarter, with pre-tax income reaching $124 million in October and trading revenue amounting to $24 million.
