Galaxy Digital Holdings, owned by crypto enthusiast Michael Novogratz, received a net comprehensive income (which includes net income and unrealized income) of $860.2 million during the first quarter of 2021.
The figure is much higher than last year, when the company suffered a cumulative loss of $26.9 million during the same period.
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In particular, the crypto bank received income of $508.7 million from trading activities during the first three months of the year, a figure that contrasts sharply with the $31.5 million loss the company suffered during the same period last year. Net investment income amounted to $151.1 million.
As of March 30 this year, Galaxy Digital's assets under management amounted to $1.27 billion, 58% more than on December 31 last year.
This month it was known Galaxy Digital has decided to acquire custody services provider BitGo for $1.2 billion, while in February it launched three Ethereum-based funds.