Galaxy Digital’s Q4 Crypto Losses Wipe Out Q3 Gains
Galaxy Digital Holdings Ltd. plunged 17% after reporting a $482 million net loss for Q4, with earnings per share cratering to -$1.08. The digital asset firm's crypto investments sank 22%, erasing its $505 million Q3 profit and shocking traders who expected resilience during market turbulence.
Total assets dwindled to $11.3 billion while equity slid to $3 billion. Though cash and stablecoins grew to $2.6 billion, net digital assets collapsed from $2.14 billion to $1.68 billion—mirroring the crypto market's 24% quarterly decline.
The Digital Assets unit generated just $51 million gross profit versus Q3's $318 million, with adjusted EBITDA at -$29 million. Treasury and Corporate performance was worse: -$454 million gross profit and -$488 million EBITDA. Full-year losses totaled $241 million (-$0.61/share).