Galaxy Digital sees QTD net loss of $300M amid uncertainty in crypto space

Cryptocurrency merchant bank Galaxy Digital (OTCPK:BRPHF) is expecting quarter-to-date net comprehensive loss of $300M, as uncertainty of cryptocurrencies takes hold, according to a company update Friday. Mike Novogratz's Galaxy Digital (OTCPK:BRPHF) has a liquidity position of approximately $1.6B, including $800M in cash and more than $800M in net digital assets, the majority of which are in non-algorithmic stablecoins, i.e., not TerraUST (UST-USD), the release said. Recall Galaxy Digital's (OTCPK:BRPHF) Q1 net loss was $111.68M compared with a gain of $858.2M in the year-ago period. Shares of BRPHF wrapped up Friday's session higher by +14.5% as crypto stocks climbed more broadly, but down -29.8% over the past week and -62.6% YTD. Earlier this week, (May 11) Galaxy Digital had planned to buy back 10% of its shares.