Galaxy Digital Q3 had a net loss of US$94 million, a 104% increase from the previous quarter

Galaxy Digital Holdings Ltd. disclosed its latest financial report. Its Q3 net loss was US$94 million, a year-on-year increase of 38% (loss of US$68 million in the same period last year) and a month-on-month increase of 104% (Q2 loss of US$46 million). The market had previously expected Q3 losses to be around US$44 million. Despite the losses, Galaxy's diversified businesses, including trading, asset management and mining, have shown resilience. The company's trading revenue was $14 million, down slightly from the previous quarter. Additionally, as the crypto market picked up, Galaxy Digital achieved $124 million in pre-tax revenue and $24 million in trading revenue in October alone. (Bitcoinist)