Galaxy Digital reported a tough start to the year as crypto prices fell and market values broadly contracted. In its first-quarter (Q1) results, the company reported a net loss of $216 million while the total crypto market capitalization slid by roughly 20% during the same period.
Despite that difficult environment, Galaxy CEO Mike Novogratz said in an interview with Bloomberg that Hyperliquid (HYPE) helped the company avoid even worse outcomes.
Galaxy Digital Q1 Snapshot
In Galaxy’s Q1 2026 reporting, the company attributed the net loss primarily to the depreciation of digital asset prices over the quarter. The firm also posted an adjusted gross loss of $88 million, along with an adjusted EBITDA loss of $188 million. On a per-share basis, Galaxy reported diluted and adjusted EPS of $0.49.
Even with the losses, Galaxy Digital ended the quarter with a solid balance sheet, including total equity of $2.8 billion and cash plus stablecoin holdings totaling $2.6 billion as
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