Cryptocurrency oriented trading bank Galaxy Digital, founded by Mike Novograc, last year suffered losses in the amount of $273 bln.
The whole 2018 was difficult for Galaxy Digital. So, in the first quarter only the bank suffered losses in the amount of $134 bln. Besides, in November, when significant drawdown was seen on the market, Galaxy Digital had to close its consulting business in the ICO sphere and its Vancouver office.
“The fourth quarter for cryptocurrencies was like the watching of yesterday`s “Game of Thrones” series”, – Mike Novograc claimed, compared the market to the blind fight.
Together with this, he thinks that Galaxy Digital has managed to “bypass the market” and the company’s affairs have improved over the past few months. Investment resource learned that Novograc also said that the bank is still servicing about a hundred clients, including institutional investors. Wherein, the head of Galaxy Digital noticed that company’s income significantly increased compared to previous year.
“This year our goal is to approximate our operating expenses maximally to break-even. And we have the good start. I am more optimistic than it was four months ago. Winter went and spring is going to begin”, – Novograc concluded.