Mike Novogratz's Galaxy Digital reported a massive swing from loss to profit on Tuesday when it announced it had generated $302 million of net income during the fourth quarter of last year.
Galaxy Digital, which operates businesses in lending, trading, mining and banking services, sought to highlight that 2024 has been positive so far amid rising prices for key cryptocurrencies like bitcoin. The company said it had already generated a before-tax income of "approximately $300 million" through the end of February, "driven primarily by the appreciation of digital asset prices and growth in our operating businesses.
Source: News Formal (newsformal.com)
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