Mike Novogratz, CEO of Galaxy, warned that crypto investors should anticipate “much lower returns” as the industry shifts from an era of speculation to a focus on real-world asset applications and banking solutions using blockchain technology. Speaking at the CNBC Digital Finance Forum, Novogratz attributed this change to a significant market downturn and increased involvement from Wall Street firms like Goldman Sachs and Société Générale, which are adopting blockchain to enhance their services. This transition is underscored by a dramatic $2 trillion loss in market value since October, further diminishing trader confidence and highlighting the need for new narratives to rebuild the trust essential for crypto’s recovery.
Galaxy CEO Mike Novogratz predicts much lower returns for crypto investors
