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Galaxy Digital Posts $216M Q1 Loss as 20% Crypto Drop Cuts Portfolio Value

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Galaxy Digital Posts 6M Q1 Loss as 20% Crypto Drop Cuts Portfolio Value

Key Takeaways:

  • Galaxy Digital posted a $216M Q1 loss as the crypto market fell approximately 20% by March 31.
  • Galaxy Digital assets fell 12% to approximately $10B, showing crypto sector volatility impact.
  • Galaxy Digital bets on Helios, adding 830MW; Coreweave deal to drive Q2 revenue.

Mike Novogratz’s Galaxy Holds $2.6B Cash as $216M Loss Tests Market Strategy

Galaxy Digital Holdings posted a sharp quarterly loss of $216 million as falling digital asset prices weighed on its investment portfolio, underscoring the sector’s continued sensitivity to market swings even as the firm expands into infrastructure.

The company reported the net loss of $216 million for the three months ended March 31, compared with a $482 million loss in the prior quarter. The improvement was largely relative, as a roughly 20% drop in total crypto market capitalization during the period eroded the value of Galaxy’s holdings. Adjusted EBITDA came in at negative $188 million, while adjusted gross loss totaled $88 million.

Total assets fell 12% quarter-on-quarter to just under $10 billion, and equity declined to $2.8 billion. Still, Galaxy maintained a strong liquidity position, holding $2.6 billion in cash and stablecoins.

Treasury & Corporate Net Digital Asset and Investment Exposure. Source: Galaxy Digital

The firm’s core digital assets business showed resilience. Adjusted gross profit in the segment reached $49 million, only slightly below the previous quarter, supported by steady fee income and transaction revenue. Trading volumes held flat even as broader market activity declined, while the average loan book shrank 20% to $1.4 billion amid client deleveraging.

Pressure was most evident in Galaxy’s Treasury and corporate unit, which recorded a $140 million adjusted gross loss driven by unrealized losses on digital assets and investments.

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At the same time, Galaxy is pressing ahead with a strategic pivot toward data infrastructure. In April, shortly after quarter-end, the company delivered its first data hall at the Helios campus to Coreweave, marking the start of revenue generation for the project.

The Helios site has also secured regulatory approval for an additional 830 megawatts of power capacity, bringing total approved capacity to more than 1.6 gigawatts. The expansion reflects strong demand for high-performance computing infrastructure, particularly tied to artificial intelligence (AI) workloads.

Asset management remained a mixed picture. Assets under management stood at roughly $5 billion, down from the previous quarter due to market depreciation, though the business attracted $69 million in net inflows. Galaxy also disclosed new partnerships, including a role supporting staking infrastructure for a Blackrock Ethereum exchange-traded product.

During the quarter, Galaxy repurchased $65 million worth of shares and completed its delisting from the Toronto Stock Exchange, consolidating trading on Nasdaq.

The results highlight a company navigating volatile crypto markets while betting on more stable, long-term revenue streams. Whether that shift can offset continued price-driven earnings swings remains an open question.

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New Cryptocurrency Pepeto Crosses $10M as Minnesota Banks Get Green Light for Crypto Custody

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New Cryptocurrency Pepeto Crosses M as Minnesota Banks Get Green Light for Crypto Custody

Minnesota just signed a law allowing state-chartered banks and credit unions to hold crypto starting August 1, giving traditional financial institutions a regulated path to custody Bitcoin and other digital assets. That clarity arrives as every new cryptocurrency with real exchange tools attracts more capital than speculative tokens still pitching ideas. While banks prepare to safeguard digital assets, Pepeto https://pepetocoin.com/ has raised $10 million from wallets positioning before its expected Binance listing. Here is what the custody news means and why Pepeto could be the defining entry of 2026.

Minnesota Opens the Door for Bank-Held Crypto

Governor Tim Walz signed House File 3709 into law, making Minnesota the first Midwest state to let banks and credit unions offer crypto custody, according to CoinDesk. The law requires client assets to stay separated from bank holdings and mandates cybersecurity reviews before service begins. The Block noted the House passed the bill 130 to 4, showing overwhelming support. When regulated banks start holding crypto for retail clients, the tokens with audited code and working infrastructure gain the most institutional trust, and the ones without it fall further behind.

New Cryptocurrency Entries and the Tokens Set to Lead

Pepeto

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Banks entering crypto custody proves the market now rewards verified infrastructure over empty roadmaps. Pepeto https://pepetocoin.com/ fits that mold, with a zero-fee swap engine that lets users trade across any chain without paying fees and a bridge connecting multiple blockchains so liquidity never gets trapped on one network. A trader can enter a position, shift it to wherever the best opportunity sits, and exit without fees cutting into returns.

The raise has passed $10 million at a presale price of $0.0000001871, and a SolidProof audit gives Pepeto the kind of verified security banks and exchanges now require before listing a token. The architect behind the original Pepe coin designed the project, and a former Binance expert is shaping exchange readiness. Early holders are not just buying a token, they are buying a complete trading ecosystem at a price that will never be available again once listing day arrives. With Binance listing approaching, this entry is a fixed window that closes permanently once trading begins. The new cryptocurrency space produces hundreds of tokens every month, but the ones that last are the ones with tools people use, and Pepeto is the only presale at this level delivering a working swap engine, a bridge, and risk scoring before its first day on an exchange.

https://youtu.be/shxO0J94CPw?si=ugvmBXGNLNG73e3H

Solana (SOL)

Solana trades near $84.34 after Goldman Sachs fully exited its SOL ETF positions in Q1 2026, according to BeInCrypto. Wall Street firms like Visa continue moving billions onto Solana for tokenized funds and payments, but the token sits roughly 65% below its peak. Support holds near $77, with resistance at $93 and then $100. SOL remains a top layer-one contender, but climbing back to old highs requires a 3x move that depends on macro conditions and institutional return.

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XRP

XRP trades near $1.35 after Goldman Sachs also dumped its XRP ETF exposure entirely in Q1, according to BeInCrypto. Support sits at $1.34, with resistance near $1.48. The CLARITY Act clearing the Senate Banking Committee adds regulatory wind. XRP’s $76 billion cap makes triple-digit percentage returns a challenge that few cycles deliver, and the kind of return that changes a portfolio comes from entries priced before their first exchange listing.

The Bottom Line

Every massive crypto fortune began the same way. BNB launched at $0.15 in 2017 and reached $1,369. ADA sold for $0.0024 and crossed $3.09, multiplying early entries by over 1,200 times. DOGE traded below a penny for years before touching $0.73. The one thing every early buyer shared is they committed while everyone else waited. Pepeto sits in that position today as a new cryptocurrency with $10 million raised, working exchange tools, and Binance listing approaching. Getting in at presale pricing is the kind of move that delivers generational returns, but the clock is running and every day brings the listing closer. Visit the Pepeto official website for the full breakdown.

Click To Visit Pepeto Website To Enter The Presale: https://pepetocoin.com/

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FAQ

What makes a new cryptocurrency worth buying in 2026?

The strongest new cryptocurrency entries this year have audited code, working tools, and a clear exchange timeline. Tokens without those rarely survive their first year of open trading.

Are large caps like SOL and XRP still worth holding?

Both offer long-term value, but their large caps limit percentage returns in a single cycle. Presale entries with defined listing dates offer a different return structure.

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What is the top new cryptocurrency presale right now?

Pepeto has $10 million raised, a SolidProof audit, and Binance listing expected. Visit the Pepeto official website for the complete project overview.

Disclaimer:

This content is for informational use only and does not constitute financial advice. Investing in cryptocurrencies carries substantial risk and volatility, including the possible loss of your investment. Always perform your own research or consult an advisor before making decisions.

Contact: Dani Bonocci

Website: https://www.tokenwire.io

Phone: +971586738991

SOURCE: Pepeto

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This release was published on openPR.

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Elon Musk Loses OpenAI Trial, Vows Appeal After Jury Dismisses Claims Over Statute of Limitations

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Elon Musk Loses OpenAI Trial, Vows Appeal After Jury Dismisses Claims Over Statute of Limitations

Key Takeaways

Verdict Reached, But Battle Not Over

A federal jury in Oakland, California sided with OpenAI on May 18, unanimously dismissing all claims in Elon Musk’s lawsuit against Sam Altman and the company he co-founded. The jury found that Musk’s claims were filed outside the three-year statute of limitations as district court judge Yvonne Gonzalez Rogers immediately adopted the advisory jury’s verdict.

The lawsuit, first filed in 2024, centered on Musk’s allegation that Altman had broken a foundational promise to keep OpenAI structured as a nonprofit dedicated to the public benefit. The court did not rule on whether that promise existed or was violated and the timing issue rendered the substantive claims legally moot before any evidence on the merits was weighed.

Writing on X shortly after the verdict, Musk called the outcome a “calendar technicality” and confirmed he would take the matter to the Ninth Circuit Court of Appeals. His legal team formally reserved the right to appeal in open court.

Image source: X

Judge Gonzalez Rogers expressed open skepticism in response, indicating she was prepared to dismiss any such appeal given the weight of evidence behind the jury’s finding.

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A Two-Year Legal Feud

The verdict is just a single chapter within a broader conflict between Musk and OpenAI that has played out across courtrooms as well as social media because shortly after Musk filed his original suit, OpenAI counter-sued him, accusing Musk of waging a bad-faith legal campaign as a competitive weapon.

Musk founded xAI in 2023, whose Grok model competes directly with OpenAI’s ChatGPT, creating a clear financial incentive behind the litigation that OpenAI’s lawyers leaned on throughout the trial.

The backdrop to the verdict is a company that has continued scaling regardless of the courtroom drama. OpenAI is approaching a $730 billion pre-funding valuation and has targeted a public market debut before the end of 2026. The company made headlines last year (alongside Robinhood) when its name surfaced in a debate over tokenized stocks and equity exposure, a sign of how deeply its footprint now extends beyond pure AI into financial markets.

Musk’s X platform remains one of the most active venues for crypto discourse, and xAI has been actively exploring integrations spanning AI and decentralized applications. In all of this, whether the Ninth Circuit takes up the case remains to be seen because if it declines, the door on Musk’s nonprofit-breach argument closes permanently (at least through the U.S. federal court system).

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TikTok user scams Sioux Falls woman out of $400K

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TikTok user scams Sioux Falls woman out of 0K
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A Sioux Falls resident reported on Friday, May 15, a significant incident of fraud that took place on TikTok over the past year.

On Monday, May 18, Sgt. Aaron Benson with the Sioux Falls Police Department said that a 73-year-old woman reported wiring nearly $400,000 to a presumed content creator on the social media platform, in hopes of investing in cryptocurrency.

The victim first sent over $200,000 toward what was believed to be a digital wallet for crypto funds, Benson said. She then later was asked by the same TikTok user to invest in a credit card system, to which the victim agreed and took out a home equity loan to send over another $197,000.

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When the victim inquired on the status of the account, the balance was zero, Benson said.

No charges have been made at this point, and Benson said chances of recouping that money are “very slim.”

What you need to know about cryptocurrency

Investing safely in cryptocurrency involves choosing a platform, funding your account and selecting your assets. A user should always need to set up an account to verify identity and banks.

According to previous reporting, the idea that trading should begin with a deposit is slowly being challenged. For beginners especially, committing personal capital before understanding market behavior, risk exposure and execution mechanics can lead to avoidable losses.

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“Talk with your family members on the importance of not sending money to people you haven’t met,” Benson said.

But there are ways to protect yourself. According to the South Dakota Unified Judicial System:

  • Research the seller, looking for verified badges on the TikTok Shop
  • Check seller ratings and positive consumer feedback
  • Watch for vague product descriptions
  • Use secure payment methods
  • Avoid clicking on suspicious links
  • Report a potential scam immediately to your bank and the online platform

Although the decision to report a scam is voluntary, the South Dakota Attorney General’s Office says to also report any potential fraud to your clerk of courts office or law enforcement agency. Victims can also visit the Attorney General’s Office website or call their hotline to receive assistance.

In 2025, the Consumer Protection Division said they received “82,000 calls from people reporting they had been victims of scams.”

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Also in 2025, the Federal Trade Commission (FTC) found that the state had “one of the lowest fraud rates in the country,” citing 3,575 reports, which is 42% below the national average.

Violations will result in bans, TikTok says

According to TikTok’s Safety Center, an online scam is a “fraudulent or deceitful act that takes place over the internet” and can include the “exploitation of others for some form of monetary gain.”

Their community guidelines state they “do not allow attempts to defraud or scam members of our community” and that repeated violations may result in “account bans.”

Their most common forms of scams include:

  • Returns of fake money or free goods and services
  • Mobile games scams that involve clicking on a link
  • Ponzi or pyramid schemes
  • Phishing
  • Debt repayment schemes

“This is a reminder to be aware of other people promising money only if you send money first,” Benson said last year. “If you are trying to figure out whether you are going through something similar, reach out to the police department immediately.”

Angela George often covers crime at the Argus Leader in Sioux Falls, South Dakota. Email ageorge@usatodayco.com.

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