Mike Novogratz’s crypto merchant bank, Galaxy Digital Holdings, has reported a net loss of $76.65 million for the third quarter of 2018.
Revealed in the firm’s latest financial report, published Tuesday, that figure accounted for more than a third of its nine-month loss of $175.68 million. Both periods ended Sept. 30.
Galaxy Digital recorded a net realized loss for digital assets at $38 million in Q3, a major contributor to the overall net loss. It had total operating expenses of almost $30 million in the same period. The firm held digital assets or cryptocurrencies with a "fair value" of $123 million at the end of Q3.