Galaxy Digital Sees Assets Under Management Jump 23.5% In July

Galaxy Digital (TSX: GLXY) has seen a strong rebound in total assets under management. The firm on Friday released the latest preliminary figures for the month of July, demonstrating strong AUM growth versus the decline experienced in the prior month.

Total assets under management jumped to $2,096.6 million during the month of July, a substantial increase of 23.5% versus the $1,697.6 million reported for the month of June. At the time, June represented a month over month decline of at least 15.8% for the company, amid a major downturn within the larger crypto markets.

As a comparison, the price of bitcoin during the same time period increased by 17.1% to close the month out at $23,322, after having fallen 37.3% in the month of June.

The company also reported its financial results for the quarter ended June 30, reporting a net loss of $554.7 million, for which the company blamed on digital asset price declines during the quarter. The company maintains that it has over $1.0 billion in cash and a liquidity position of $1.5 billion.

Galaxy Digital last traded at $7.49 on the TSX.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

What Happens If Silver Finally Breaks $50? | Gary Thompson – Silver47

Recommended

Emerita Resources Expands El Cura Drill Program By 10,000 Metres As Deposit Remains Open For Expansion

ESGold Signs MOU For Tailings Project In Colombia With Grades Up To 42 g/t Gold, 280 g/t Silver

Related News

Novogratz Says El Salvador’s Crypto Holdings Are On FTX; CZ Talks To President Nayib Bukele To Confirm

Galaxy Digital (TSX: GLXY) CEO Mike Novogratz claimed on Thursday morning that El Salvador’s Bitcoin...

Thursday, November 10, 2022, 12:51:00 PM

Galaxy Digital Posts $517 Million Net Income For Q3 2021

Galaxy Digital Holdings Ltd. (TSX: GLXY) released today its Q3 2021 financial results, which saw...

Monday, November 15, 2021, 11:52:00 AM

Galaxy Digital Starts Minimizing FTX Exposure As Q3 2022 Continues Losses

The blockchain firm is reportedly in the process of withdrawing US$47.5 million from FTX which...

Wednesday, November 9, 2022, 09:56:39 AM

Bitcoins Tumble Forces Bitfarms To Sell BTC To Meet Collateral Requirements

At least one cryptocurrency miner is feeling the impact of falling market sentiment, and as...

Friday, June 17, 2022, 03:31:00 PM

Galaxy Digital Sees BMO Slash Price Target From $35 To $24

Galaxy Digital (TSX: GLXY) reported its first quarter financial results on Monday. The company said...

Thursday, May 12, 2022, 04:33:00 PM