Galaxy Digital received $ 860 million profit against the background of the growth of the cryptocurrency market

The total income of the Galaxy Digital Holdings according to the results of the first quarter of 2021 amounted to $ 860.2 million against the total loss of $ 26.9 million for the same period last year.

The indicator includes net profit and unrealized income.

During January-March 2021, the cryptobank received income from trade in the amount of $ 508.7 million against a loss of $ 31.5 million for the same period 2020. Net profit from investment amounted to $ 151.1 million.

The amount of funds running Galaxy Digital on March 30, 2021 reached $ 1.27 billion. Compared to data as of December 31, 2020, the indicator increased by 58%.

The yield of Galaxy Bitcoin Fund and Galaxy Institute Bitcoin Fund was 101.92%, Galaxy Benchmark Crypto Index – 118.32%.

In May 2021, the Galaxy Digital agreed to buy a Bitgo caste -dodium provider for $ 1.2 billion. According to Криптобиржа Samsung the head of Mike Novogradz, this deal will provide organic growth with a focus for institutional customers.

FORKLOG previously reported about Galaxy Digital plans to open a research department and increase the number of employees by 40%.

Prior to this, the crypto trade bank launched a bitcoin mining unit.

Recall that in April 2021, Galaxy Digital applied for the launch of the ETF based on the first cryptocurrency.