Despite $68 Million Loss, Novogratz Optimistic About Crypto’s Future

It seems that the crash in the Bitcoin price has been affecting all cryptocurrency investors, from the retail holders to the institutional fund managers.

A press release published last week has revealed that Galaxy Digital Holdings, the crypto merchant bank headed by former Goldman Sachs partner Mike Novogratz, has posted losses for its fiscal Q3, seemingly due to the large-scale collapse in digital assets.

Galaxy Posts Loss for Q3

Per the release, which gave executive highlights for the publicly-traded company’s Q3 performance, it was revealed that the company posted a “net comprehensive loss of $68.2 million” for Q3 2019, which is relatively strong compared to the net comprehensive loss of $76.7 million in Q3 of last year. The loss, the release indicates, can be primarily…

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