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Galaxy Digital swings to profit after $1B net loss in 2022

On March 28, Canadian investment firm Galaxy Digital, operated by blockchain personality Mike Novogratz, disclosed that it had achieved a preliminary pre-tax income of $150 million from Jan. 1, 2023, to March 24, 2023.

The results followed a $1 billion net loss in 2022, which was largely attributed to a $659 million unrealized loss on digital assets and a $496 million unrealized loss on investments. As told by Novogratz:

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