Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Mike Novogratz’s Galaxy Digital Sees Massive $300,000,000 Loss This Quarter, Hints at Zero Exposure to TerraUSD

by Daily Hodl Staff
May 16, 2022
in Bitcoin

Crypto asset manager Galaxy Digital has taken a deep hit following the significant downturn in digital asset markets.

According to a recent press release, the firm is reporting that is on track to lose $300 million for the second quarter of 2022.

The firm is also hinting that it has no exposure at all to TerraUSD (UST), an algorithmic stablecoin issued by Terra (LUNA) that collapsed last week.

“The company believes that the current digital asset and broader market conditions warrant providing shareholders, counterparties, and clients intra-quarter visibility regarding its capital and liquidity position, as well as its operating resilience. The company’s treasury does not utilize algorithmic stablecoins…

[Galaxy Digital] has a liquidity position of approximately $1.6 billion, including $800 million in cash and over $800 million in net digital assets, with the majority of net digital assets in non-algorithmic stablecoins.

Quarter-to-date net comprehensive income is expected to be a loss of approximately $300 million.”

Last week, Galaxy Digital CEO Mike Novogratz said that crypto assets could be under threat from rising inflation fears and a struggling equities market. According to Novogratz, however, prominent blue-chip investors are “lining up” for the opportunity to purchase digital assets, which could serve as support for the industry.

“The bright note for crypto is… Amazing institutional capital is starting to line up to come into the place. BlackRock, Blackstone, Citadel, Apollo, [are] all building major crypto efforts.

And so it’s completely intuitive to me that there’s a backstop somewhere in crypto.”

Check Price Action

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 
Check Latest News Headlines


 
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Julia Ardaran/Alexxxey

Submit a Press Release

Industry Announcements

  • Gate.io Announces Second Audit After Being First Exchange To Provide Proof-of-Reserves
    July 6, 2022
  • VSR Supported by Lamborghini Squadra Corse Implement Corporate NFT Technology With Go2NFT
    July 6, 2022
  • Spritz Finance Launches Direct Wallet Pay, an Easy Way To Pay Real-World Bills With USDC From Any Crypto Wallet
    July 5, 2022
  • Metaverse Summit To Accelerate Open Metaverse and Web 3.0 With International Leaders
    July 5, 2022
  • Swappi (PPI) Announces First Exchange Listing on BitMart
    July 1, 2022
  • Yield App Joins Forces With Unstoppable Domains To Simplify Web 3.0 Journey
    July 1, 2022
  • ARK Has Introduced a New Blockchain Consensus Technology
    June 30, 2022
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$20,511.00
$20,511.00
1.6%
Ethereum
$1,184.52
$1,184.52
4.26%
Cardano
$0.466369
$0.466369
2.36%
XRP
$0.333203
$0.333203
2.56%
Dogecoin
$0.069152
$0.069152
3%

Spotlight

  • Analyst Who Accurately Predicted 2022 Bitcoin and Crypto Crash Tells Traders To ‘Get Ready,’ Predicts Huge Altcoin Haircut
    June 29, 2022
  • Richest Bitcoin Whale Splurges Over $102,000,000 on BTC in a Month in Massive Accumulation Spree
    July 2, 2022
  • Nexo Looking To Acquire Distressed Crypto Lending Platform Vauld: Report
    July 5, 2022
  • Big Cardano (ADA) Upgrade Set To Go Live, According to Developers – Here’s the Timeline
    June 30, 2022
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2022 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2022 The Daily Hodl