Galaxy Digital Q2 reflects digital asset volatility, higher trading volume

Cryptocurrency asset manager Galaxy Digital's (OTCPK:BRPHF) Q2 net comprehensive loss of $175.8M was primarily driven by continued digital asset volatility as bitcoin reached record high of almost $65K in April then sank to ~$35K by the end of the quarter. Still, the company's core operating activities "delivered another quarter of rapid growth consistent with the pace of adoption of the crypto economy," Founder and CEO Michael Novogratiz said in a statement. This compares with net comprehensive income of $860.2M in Q1, and a $35.3M gain in Q2 a year ago. Partners' Capital equity increased 320% to $1.50B at June 30, 2021, from $356.6M at the same-time a year ago; however, it declined from $1.7B at March 31, 2021 due to losses on the company's core long digital asset positions. Galaxy Digital Investment Banking is working on seven active mandates in various stages of execution, with an active pipeline including many more