Mike Novogratz, founder and CEO of Galaxy, delivered a speech during an event held in New York City on Tuesday, February 10.  In his speech, the industry executive noted that recent declines in the crypto industry reflect a broader structural shift within the sector. 

Novogratz explained, “Crypto revolves around narratives; it’s all about the stories.” He added, “Building those stories takes time, and you’re bringing people in … so when a lot of them leave, it’s not easy to put things back together again.”

Nonetheless, he believed a more lasting outcome would emerge from this decline. Based on his belief, Novogratz highlighted that the current phase of crypto investment, which he referred to as “the age of…