Net realized and unrealized losses on digital assets at Galaxy Digital Holdings LP’s trading operation totalled about $41 million (U.S.) in the third quarter, bringing losses for the first nine months of the year to $136 million, according to company filings this week. The latest hit was caused in large part by losing bets on Ether, Bitcoin and XRP, Galaxy Digital said. Galaxy Digital blamed its poor third-quarter trading results in part on tepid trading volumes and increased competition for arbitrage opportunities. It said the fair value of its digital assets, net of short positions, stood at $90.6 million at the end of September and that the assets cost $172.7 million. Article Continued BelowFiona Choi, head of investor relations and corporate communications at Galaxy Digital, didn’t immediately respond to an email seeking comment.

Source: thestar November 28, 2018 15:11 UTC