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   506

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%.

Bittrex to Go For Maintenance After 1/3 Funds Moved

Users suspects hack, but exchange says "funds are safe"
05 December 2019   62

The Bittrex cryptocurrency exchange has announced scheduled maintenance today, December 5, from 22:00 to 23:00 (GMT). On the eve, a third of its assets were transferred to an unknown wallet.

During maintenance, users will not be able to log into the system or use the APIs. Trading will be suspended.

On December the 4th, populat Twitter account posted that "43,564 #BTC (313,074,134 USD) transferred from Bittrex to unknown wallet." Users suspected that the exchange was hacked, but the exchange . 

Closures for scheduled maintenance only heightened suspicion. However, the Bittrex team assures that "that claim is false."