In brief
- Mike Novogratz declared the “age of speculation” in crypto is over, shifting to real-world asset tokenization.
- Galaxy is launching a $100 million hedge fund with 30% crypto exposure, 70% in financial services stocks.
- An October 2025 flash crash wiped $19 billion in derivatives, leaving a lasting impact on market narratives.
The “age of speculation” that captivated crypto traders is ending, Galaxy CEO Mike Novogratz told CNBC in an interview Tuesday.
Instead, he told the news outlet the market is “going to be transposed or replaced by us using these same rails, these crypto rails, to bring banking [and] financial services to the whole world. And so, it’s going to be real-world assets with much lower returns.”
Novogratz said…
