Mike Novogratz’s Crypto Trading Desk is reported to have lost $136 Million USD.
According to an article published on Bloomberg , 2018 was a pretty bad year for Mike Novogratz’s company called “Galaxy Digital Holdings LP“. The overall loss in the last 9 months sums up to $136 Million USD.
The price moves on Ripple, Ethereum and Bitcoin caused major losses. In the third quarter alone, the losses have been about $41 million, stated Galaxy Digital.
They blame the low trading volume and the decreased arbitrage opportunities, as written in the company filings.
The Bloomberg Galaxy Crypto Index decreased another 44 percent, the Galaxy Digital shares reached a record low after decreasing 55 percent in November.