Galaxy Digital posts $482M net loss for Q4, shares drop over 6%

Shares of crypto financial services firm Galaxy Digital (GLXY) fell more than 6% in pre-market trading after the company announced a fourth-quarter net loss of $482 million, CoinDesk reported. The loss was attributed to declining cryptocurrency prices and one-time expenses. Despite the quarterly performance, the company's financial status was assessed as solid, with an annual adjusted gross profit of $426 million and $2.6 billion in cash liquidity. Galaxy Digital is expanding its assets under management and strengthening its infrastructure by increasing data center capacity.