Crypto Review by Major Investor Mike Novagratz

Mike Novogratz, the billionaire founder of Galaxy Digital Holdings Ltd. made important statements about the cryptocurrency market. Novogratz noted that cryptocurrencies have been relatively robust over the past month and that digital tokens will rise again as soon as the US Federal Reserve (Fed) abandons its current aggressive monetary tightening policy.

Mike Novogratz, the billionaire founder of Galaxy Digital Holdings Ltd., noted that cryptocurrencies have been relatively robust over the past month, as there are not many forced sellers left in the industry. Billionaire Novogratz said, "We are in a strange equilibrium where there are few buyers, few sellers. There is no energy in the market that you have to sell like you see in the stock market or the bond market. As soon as the Fed abandons its current policy of aggressive monetary tightening, digital tokens will rise again. On the other hand, this will not be sustainable until Web3 projects are adopted en masse." Major Investor Mike Novogratz added the following statements to his assessment: "Many crypto hedge funds will not survive the cryptocurrency rout of 2022. Galaxy Digital will likely slow its hiring pace. The collapse of Do Kwon's Terraform Labs project was "heartbreaking" and a lesson for the crypto industry. Novogratz was a big supporter of Terraform Labs. Kwon's whereabouts are currently unknown and he is wanted on an Interpol red notice for the collapse of the Terra ecosystem.'' The investment information, comments and recommendations in this article do not constitute investment advice. Investment advisory services are provided individually, taking into account the risk and return preferences of individuals. The content contained herein is in no way directive and the recommendations are of a general nature. These recommendations may not be suitable for your financial situation and risk and return preferences. Therefore, making an investment decision based solely on the information contained herein may not produce results in line with your expectations. Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!