Galaxy Digital reports $482 million loss as bitcoin slumps

Dow Jones02-03 22:37

MW Galaxy Digital reports $482 million loss as bitcoin slumps

By Steve Goldstein

Shares in the crypto company run by billionaire Michael Novogratz are down 5% in premarket trading Tuesday

Michael Novogratz is the founder and chief executive officer of Galaxy Digital Capital Management.

Galaxy Digital, the cryptocurrency company run by billionaire Michael Novogratz, on Tuesday reported a $482 million loss in the fourth quarter as the value of bitcoin and other digital assets fell.

The value of Galaxy's digital assets and investments slumped 22% from third-quarter levels, leading to a quarterly loss of $1.08 per share. Revenue fell to $10.22 billion, a 37% year-over-year drop.

Analysts polled by FactSet expected a loss of 91 cents a share on $12 billion in revenue.

The company also said its digital-trading volumes slumped 40% from third-quarter levels.

Galaxy (GLXY) fell 5% in premarket trading. Through Monday, the stock has dropped 39% from its October peak.

-Steve Goldstein

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

February 03, 2026 09:37 ET (14:37 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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