Odaily News: Galaxy Digital Holdings Ltd. announced that its second-quarter losses have narrowed as cryptocurrency prices stabilize. The company reported a net loss of $46 million in Q2, or $0.14 per share, compared to a loss of $554.7 million, or $1.74 per share, in the same period last year.



"Despite ongoing uncertainty and regulatory pressure, Galaxy Digital's operating business performed well in the second quarter," said Michael Novogratz, the company's founder and CEO, in a statement.



The company reported trading revenue of $59.5 million for the quarter, a 54% decline from the first quarter, with trading volumes impacted by the overall slowdown in the cryptocurrency trading activity across the industry.



Additionally, the company's asset management revenue for the quarter was $33.8 million, a 619% increase from the previous quarter, driven by a significant rise in net realized gains from investment on the venture platform. (Bloomberg)