Galaxy Digital CEO and digital asset billionaire Mike Novogratz believes crypto should be a two-pronged issue.
In a new interview with Fox Business, the billionaire discusses the new European Union’s newly approved legal framework for digital assets, arguing that the regulation isn’t perfect but serves as a “positive step” for the industry.
Novogratz then contrasts that recent development with the lack of regulatory progress in the United States.
“I think there’s a small minority in the Democratic Party, in the Biden administration, it’s Gary Gensler, it’s Elizabeth Warren, it’s Sherrod Brown, it’s kind of now Janet Yellen and Lael Brainard, because I think that they worry about the dollar. who really don’t like crypto.
And crypto should be bipartisan, this isn’t left or right, it’s become largely partisan because Sam Bankman-Fried had become such a public donor to President Biden and the Democrats, it makes everyone feel a little stupid. He turned out to be a big scam artist, he was close to the SEC (US Securities and Exchange Commission), he was close to the CFTC (Commodity Futures Trading Commission).
I mean it’s ironic that [FTX] also gave a bunch of money to Republicans, but that’s not the story, and so the Democrats backed out, and this minority that doesn’t like crypto has filled that vacuum.
Bankman-Fried, the former CEO of FTX, has been charged with conspiracy to make more than 300 illegal campaign donations, in addition to charges of allegedly defrauding customers and misusing billions of dollars in their money.
FTX first filed for bankruptcy in November after the exchange’s equity collapsed and it was forced to halt customer withdrawals.
Reports surfaced in December that three Democratic campaign groups that received funding from Bankman-Fried reportedly planned to repay more than $1 million of the FTX founder’s disgraced political contributions.
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