Mike Novogratz, CEO of Galaxy Digital, has shared his outlook on the cryptocurrency industry following the upcoming US elections.
In an interview with Bankless, Novogratz predicted that regardless of the election’s outcome, the crypto sector is likely to benefit from more supportive regulations and a reduction in aggressive enforcement tactics.
He expects that a market structure bill will pass post-election, leading to changes at the Office of the Comptroller of the Currency (OCC).
Novogratz believes that the stringent regulatory actions currently impacting the crypto space will diminish, paving the way for increased trading and heightened competition as new players enter the market.
Novogratz views the potential involvement of major financial institutions as a positive development, which he believes will drive growth and bring more energy to the sector.
Coinbase CEO Brian Armstrong has spotlighted a significant acceleration in institutional crypto adoption, driven largely by the surging popularity of exchange-traded funds and increased use of Coinbase Prime among major corporations.
The latest market turbulence, fueled by geopolitical tensions and investor fear, offered a textbook case of how sentiment swings and whale behavior shape crypto price action.
Jefferies chief market strategist David Zervos believes an upcoming power shift at the Federal Reserve could benefit U.S. equity markets.
Bitvavo, Europe’s largest euro-denominated spot crypto exchange, has officially received a MiCA license from the Dutch Authority for the Financial Markets (AFM), allowing the firm to operate across all 27 European Union member states.