Galaxy Digital (NASDAQ:GLXY) reported a sharply wider fourth-quarter loss, but CEO Mike Novogratz says market conditions may be nearing an inflection point.

Galaxy’s Q4 Loss Ahead Of Expectations

Galaxy Digital posted a Q4 loss of $482 million, well above analyst expectations of about $282 million, as falling digital asset prices weighed on results.

The earnings miss sent Galaxy shares down over 15% over the past 24 hours.

Trading activity weakened during the quarter, with digital asset trading volumes dropping about 40% quarter over quarter after a strong third quarter.

Galaxy ended the year with $12 billion in assets under management, including $2 billion in net inflows, representing 34%…

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