The biggest crypto firm on Wall Street just took a $134 million loss on bitcoin's plunge
Former Wall Street macro trader Mike Novogratz's Galaxy Digital took a $134 million hit in the first quarter.
In the firm's first-ever financial disclosure released to Canadian regulators this week, Galaxy said it lost $13.5 million lost on digital assets and had $85.5 million of unrealized losses on those assets.
Novogratz launched the firm in November, a month before bitcoin hit its high near $20,000 and despite the loss, says the firm is "strategically positioned to help further institutionalize the digital assets and blockchain industry."