The Loss Of Cryptocurrency Bank Galaxy Digital Makes Up $ 134 Million In The 1Q
The astonishing information announced to the potential investors that your trading cryptocurrency bank has lost more than $ 130 million in 1Q, it is not the optimal way to sell the company before its public listing, but this is a situation which is related to the billionaire-investor, former hedge funds manager and Bitcoin supporter Michael Novogratz.
According to the latest information, Novogratz-Galaxy Digital LP-will be registered on August 1st for trading on the TSX venture exchange in Toronto.
As reported, the firm lost $ 134 million for the 1Q, mainly due to the massive fall of the underlying cryptocurrency market.
It is not clear where the shares of the cryptocurrency Bank Galaxy Digital will be traded after the market opens on Wednesday. Current investors bought shares of $ 5 apiece during a closed placement which took place in January at the height of the cryptocurrency hype.
It is unlikely that they will remain so valuable, though the current shortage of public cryptocurrencies and blockchain firms may make cryptocurrency Bank Galaxy Digital a preferable one among investors seeking access to this nascent industry.