Galaxy Digital to Lost $273M in 2018

But Mr. Novogratz doesn't lose his spirit and believes that Spring is going to come real soon
30 April 2019   277

Cryptocurrency trading bank Galaxy Digital suffered a loss of $ 273 million in 2018, writes The Block with reference to the company's annual reporting.

Last year, it became known that in the first quarter, the Galaxy trading unit actually lost $ 13.5 million, while the company's unrealized losses from investments in cryptocurrency were $ 88.5 million. In addition, Galaxy attracted the attention of American regulators and was later forced to close the ICO consulting business, says The Block.

Q4 in crypto felt a little bit like watching Game of Thrones last night. The [comapny] results on the year weren’t great by any means…But it’s a little deceiving because for me what matters is the operating loss is and what our cash book does.

Mike Novogratz

CEO, Galaxy

Galaxy's investment portfolio lost 36%, but Novogratz said that they had managed to “outperform the market”, and the company’s business had gone better in recent months. He also said that Galaxy still has about 100 customers, several of which are institutional, while noting that the company's profits have increased significantly compared to 2018.

Our goal this year is to get our operating business as close to breaking even as possible…We’re off to a good start in the first few months. I’m more optimistic than I was 4 months ago; Winter came and Spring is just about here.

Mike Novogratz

CEO, Galaxy

At the beginning of the year Novogratz acquired 7.5 million shares of Galaxy, with which its share in the company approached 80%.

1st Alternative Zcash Client to be Created by Parity

The responsibility for the continued development and support of the new client called Zebra will be with the Zcash Foundation
18 June 2019   126

The leading developer of solutions for the Ethereum ecosystem, Parity Technologies, presented the first alternative client for cryptocurrency Zcash.

A new client called Zebra is designed to improve the security of the Zcash network. So, if the original Zcashd client will not be able to operate for some reason, the blockchain will be supported by nodes on Zebra.

In addition, with the help of an alternative client, developers will be able to identify bugs and eliminate defects in consensus.

The community wins across the board, as there are now more core developers working on clients, with more interests represented and clients taking different approaches on how to build apps on top. Zcash can now boast a more diversified community that can effectively tailor experiences for Layer 2 developers as well as end-users.

Fredrik Harryson
CTO, Parity Technologies

The responsibility for the continued development and support of the Zebra will be with the Zcash Foundation.