TechFlow reported on August 1 that, according to CoinDesk, Galaxy Digital disclosed a net loss of $177 million in the second quarter due to a pullback in the crypto market—nearly four times the loss from the same period last year. The report attributed the loss to a net realized loss of $161.7 million from its digital asset holdings amid declining digital asset markets. Bitcoin dropped 12% during the quarter, after rising nearly 70% in the previous three months. Nonetheless, Galaxy's net revenue for the first half of the year reached nearly $245 million, an increase of more than 175% year-on-year.
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