Galaxy Digital reported a tough start to the year as crypto prices fell and 
market values broadly contracted. In its first-quarter (Q1) results, the 
company reported a net loss of $216 million while the total crypto market 
capitalization slid by roughly 20% during the same period. Despite that 
difficult environment, Galaxy CEO Mike Novogratz said in an interview with 
Bloomberg that Hyperliquid (HYPE) helped the company avoid even worse 
outcomes. Galaxy Digital Q1 Snapshot In Galaxy’s Q1 2026 reporting, the 
company attributed the net loss primarily to the depreciation of digital asset 
prices over the quarter. The firm also posted an adjusted gross loss of $88 
million, along with an adjusted EBITDA loss of $188 million. On a per-share 
basis, Galaxy reported diluted and adjusted EPS of $0.49. Even with the 
losses, Galaxy Digital ended the quarter with a solid balance sheet, including 
total equity of $2.8 billion and cash plus stablecoin holdings totaling $2.6 
billion as of March 31, 2026. The company said it ended Q1 with approximately 
$5 billion in assets under management and $3.2 billion in assets under stake. 
Related Reading: XRP $10 By 2027? Top Expert Flags Two Must-Happen Catalysts 
For A Bull Run At the same time, the firm reported that its asset management 
segment generated $69 million in net inflows across the quarter, suggesting 
demand still existed even as pricing pressure weighed on performance. 
Novogratz’s comments focused on how Galaxy Digital managed risk and exposure 
while markets moved against crypto. He said the balance sheet “lost money 
because crypto prices were down,” but argued Galaxy “way outperformed” what 
would have happened if it had not taken steps to adjust its positions. 
Hyperliquid As The ‘Future Of Crypto’? According to Novogratz, the company cut 
some positions and shifted a significant portion of its level two exposure 
into Hyperliquid. He described Hyperliquid as one of the tokens he has 
discussed previously and indicated that the platform’s structure stands out in 
the sector. In explaining the reasoning behind Galaxy’s support, Novogratz 
said he backed Hyperliquid “mostly because it’s got an economic model,” 
contrasting it with other tokens he described as being more “association 
tokens.” The executive added that Hyperliquid provides a way to look at what 
the future of crypto could look like, framing it as a more substantive 
approach compared with projects that function differently. Galaxy Digital’s 
relationship with Hyperliquid goes beyond investment interest. The company has 
significant exposure to Hyperliquid’s native token, HYPE, and it also acts as 
a validator on the network. Bitcoin Over $100,000 Again? Novogratz also 
addressed Bitcoin’s (BTC) current price action. He noted that if Bitcoin 
manages to climb back above $100,000, it may still be difficult for the asset 
to sustain that level depending on broader economic conditions. Related 
Reading: Solana Prepares For The Quantum Era: Foundation Details Step-By-Step 
Transition He pointed out that to reach that price “you’re going to need a few 
things to happen,” and emphasized that easing from central banks would be 
central to the equation. However, he cautioned that macroeconomic pressures 
are unlikely to ease quickly, citing inflation concerns tied to current 
events. Galaxy Digital CEO referenced the war in Iran and said “we’ve got some 
pretty ugly inflation prints that are going to come through the pipeline,” 
adding that, in his view, “I don’t think the Fed does anything but sits and 
watches.” Despite the quarterly loss, Galaxy Digital’s stock (trading under 
the ticker symbol GLXY) surged around 4% during Tuesday’s trading session, 
reaching $26 per share. Meanwhile, Hyperliquid’s native token saw a 5% loss 
and retraced to $39. Featured image from OpenArt, chart from TradingView.com

Galaxy Digital Posts $200M Quarterly Loss—Did Hyperliquid Help Avoid New Crisis?

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$292M liquidated in crypto market amid US-Iran tensions

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Pentagon may downplay US missile shortage severity, impacting Iran conflict bets

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The post Lebanon PM condemns Israel for &#8216;war crimes&#8217; after attack kills 3 
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Lebanon PM condemns Israel for ‘war crimes’ after attack kills 3 rescue workers

Bitcoin&#8217;s surge amid geopolitical tensions highlights its role as a safe-haven 
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Cryptocurrency price in ARS

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