Galaxy Digital, one of the most important and closely watched institutional players in crypto, reported a sharp loss in the fourth quarter of 2025, reflecting the impact of falling digital asset prices and renewed volatility across crypto markets. The firm posted a net loss of roughly $482 million for Q4, as falling digital asset prices weighed on results. The total crypto market capitalization fell roughly 24% during the quarter. Galaxy’s Digital Assets segment generated $51 million in adjusted gross profit but posted negative adjusted EBITDA of $29 million, reflecting weaker trading volumes, reduced on-chain activity, and a softer macro


