Galaxy reports $85M net loss amid Q2 crypto market slump

Galaxy Digital reported an $85 million net loss for the second quarter of 2026 as cryptocurrency valuations declined in the period.That resulted in a $0.09 loss per share posted on Wednesday which Galaxy attributed to the depreciation of digital asset prices during the quarter. Revenue at $8.7 billion was down 15% from $10.2 billion in the first quarter of 2026. Analysts had forecast a consensus of $12.7 billion, according to estimates compiled by Yahoo Finance.Galaxy’s shares fell 6.2% in premarket activity on Wednesday to $20.70, set to extend a nearly 10% decline over the past month. The total crypto market capitalization fell nearly 15% during the quarter, to $2 trillion on June 30 from $2.35 trillion on April 1, according to CoinMarketCap data.Despite the slump, the company reported that digital assets generated adjusted gross profit of $66 million and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of -$11 million, marking a 34% quarter-over-quarter increase in adjusted gross profit. EBITDA measures a company’s core operating profit by removing financing costs, taxes, asset value changes and one-time expenses.Galaxy said this reflects the “res...