The Changing Political Landscape and the Influence of Crypto

• Novogratz identifies as a "radical centrist" in politics, supporting both Democrats and Republicans.
• Crypto has become a bipartisan issue, influencing recent legislative and regulatory advancements.
• Political landscape shifting towards positive regulation and consumer protections for crypto.
• Increased campaign funding for crypto-focused Super PACs influencing elections.
• Expectations of traditional financial institutions entering crypto custody space.
• Galaxy Digital aims to go public in the U.S., navigating regulatory challenges.

Summary :
Mike Novogratz, CEO of Galaxy Digital, describes himself as a "radical centrist" and a "single issue" voter when it comes to politics, with his main focus being on crypto. He believes that there has been a shift in the political landscape recently, with many Democratic officeholders softening their stance on crypto. Novogratz speculates that this change may be due to pressure from the White House and the influence of crypto voters. He also notes that the Democratic Party is not unified on this issue, with some members calling for positive regulation and consumer protections. The increasing amount of money entering campaigns related to crypto is also driving these political changes. Novogratz predicts that if the crypto industry becomes a political force, there may be practical changes such as traditional financial custodians entering the crypto space and the possibility of rule changes for ETH ETFs. He expects many of the ongoing SEC lawsuits against crypto companies to be thrown out due to factors like regulatory uncertainty and fears of administrative overreach. Finally, Novogratz discusses the challenges faced by Galaxy in going public in the US and expresses optimism that they may be able to list as a public company by early next year.

Sources :

- Coindesk