Galaxy Digital CEO Mike Novogratz: ‘We Want To Cheer for Binance’

In a current interview with Actual Imaginative and prescient CEO Raoul Pal, Galaxy Digital Founder and CEO Mike Novogratz shared his ideas on Binance and its CEO (“CZ”).

Throughout this interview — which was recorded on 18 January 2023 and premiered on the YouTube channel “Actual Imaginative and prescient Crypto” on 27 January 2023 — Novogratz had this to say about Binance and CZ:

“Pay attention, we have to cheer for Bnance… They’re… some big proportion of the liquidity. CZ has been all the time very centered on customer support. And so, he’s received a really loyal big retail following that imagine in our ecosystem. We want these guys.

“And it drives me loopy how many individuals on Twitter and different media, simply need to smash folks down and can be nothing happier than if CZ stepped on a banana peel and slipped on his ass. It’s the mistaken considering. We want CZ to succeed.“

Throughout an interview with CNBC on 10 January 2023, Novogratz shared his outlook for crypto in 2023.

In a dialog with Andrew Ross Sorkin, co-anchor of CNBC’s Squawk Field, the Galaxy Digital CEO had this to say about Coinbase’s newest layoffs:

“2022 was a was a grand washout, you understand, for progress shares and for crypto. And so something related to it, particularly that was growthy — you understand, had massive massive value and income shrinking — received hammered as as lots of the crypto shares did. I feel CEOs — Brian at Coinbase and any rational CEO– is doing the best factor.

“The outlook for crypto shouldn’t be horrible, nevertheless it’s not nice. We’ve received regulatory headwinds that we didn’t have earlier than. We’ve received time to heal and rebuild narrative, and so persons are going to chop prices and survive this transition interval. Crypto shouldn’t be going away. What’s been fascinating is the worth of Bitcoin and Ethereum has helped fairly regular the previous couple of months, and it’s truly gone up in the previous couple of days.

“Should you needed to promote, there’s a number of unhealthy information on the market, you bought. Should you’re leveraged, you bought out of your leverage, and so it’s a fairly clear market proper now. There’s nonetheless some overhangs — DCG and and Genesis and Gemini — that may play out within the subsequent quarter. That’s not going to be nice. I don’t suppose it can embody a number of promoting. It’s simply not excellent news.

“And so I feel what we’re making an attempt to do at Galaxy, hear, we’ve purchased an enormous mining facility in Texas. We purchased GK8, a safety firm, you understand, a self-custody firm in Israel. We’re leaning in the place we expect it’s acceptable, however we’re additionally sober, understanding that 2023 is a 12 months you need to survive…“