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Galaxy Digital founder and CEO Mike Novogratz says approving a Bitcoin spot ETF is not “a matter of if but when,” which will drive institutional investment in the sector.
Currently, a 74% increase takes Bitcoin to over $59,000 and that doesn’t factor in “second-order effects,” says Galaxy Digital.
Galaxy Digital set to manage the sale of bankrupt FTX’s crypto holdings and facilitate staking of certain tokens to generate passive yield.
Bitcoin-related funds saw outflows of $13 million over the past week, reversing five weeks of bullish inflows, according to Coinshares analyst James Butterfill.
US-based crypto startups attracted 45% of all VC funding invested in the industry, followed by the United Kingdom claiming 7.7% of capital investment and Singapore with 5.7%.
Vice Chancellor J. Travis Laster of the Delaware Court of Chancery said Galaxy had a “clean termination right” to the acquisition of BitGo, which it announced in 2022.
The Galaxy Digital CEO said there has been a recent lack of institutional interest in cryptocurrency buying, which has led to deflated enthusiasm in the markets.
Galaxy Digital CEO Mike Novogratz believes regulators have got it "completely upside-down" on crypto vs AI regulation.
Galaxy’s estimation was based on the rapid uptick of interest in Bitcoin NFTs, currency market infrastructure, and the potential to take some market-share away from Ethereum.
Anthony Scarammuci also noted that there was "clearly fraud" in the SBF and FTX debacle, while Mike Novogratz said there’s a side of him that would like to “punch” SBF…