• Mike Novogratz, CEO of Galaxy Digital, says that 2022 was “a grand washout” for cryptocurrencies and growth stocks.

  • Everything in the financial assets industry that was “growth-linked” encountered difficulties in 2022.

  • New developments in the industry are leading to substantial adjustments by industry leaders and regular participants.

Mike Novogratz, CEO of Galaxy Digital, says that 2022 was “a grand washout” for cryptocurrencies and growth stocks. In a TV interview, Novogratz noted that it was a year when everything in the financial assets industry that was “growth-linked” encountered difficulties.

Novogratz acknowledged that the outlook for the crypto industry is not horrible, nor is it great. He explained that new developments in the industry are leading to substantial adjustments by industry leaders and regular participants alike.

Some developments mentioned by Novogratz include incoming regulatory headwinds and the ongoing healing process. He noted a developing change in narrative that demands people to cut costs and survive the current transition period.

According to Novogratz, the continued existence of Bitcoin is unquestionable. He was certain that crypto would not go away. He rather explained that the steady price of

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