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☆ From $40 billion fraud to $4.5 billion settlement: Inside the latest crypto firm paying big bucks to end legal trouble
▼ + stars: | 2024-06-16 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +14 min

This week, a judge signed off on Do Kwon and his bankrupt Terraform Labs settling with the U.S. Securities and Exchange Commission for $4.5 billion. This comes after a jury unanimously found Kwon and his company liable for securities fraud following less than two hours of deliberation. But investors piled in anyway, giving luna and UST a combined market value of almost $40 billion at one point. Terraform and Kwon fought our efforts to investigate – taking a fight over investigative subpoenas all the way to the Supreme Court. They are Caroline Ellison, the Alameda Research CEO who at one time dated Bankman-Fried; FTX engineering chief Nishad Singh; and Gary Wang, the co-founder and chief technology officer of FTX.

Persons: Kwon, Woohae Cho, Sam Bankman, Changpeng Zhao, Luna, atoning, Alex Mashinsky, Wall, Stevo Vasiljevic, Reuters Kwon, He's, Satoshi Nakamoto, Elon Musk, Mike Novogratz, Gary Gensler, –, Fried, Fatih Aktas, Lewis Kaplan, Kaplan, Bankman, convicting, Prosecutors, Ryan Salame, Caroline Ellison, Nishad Singh, Gary Wang, FTX, Jason Redmond, Zhao, Richard Jones, …, Binance, Justin Sullivan Organizations: Terraform Labs, Bloomberg, Getty, U.S, Forbes, Arrows Capital, Voyager, U.S . Securities, Exchange Commission, Labs, U.S . Justice Department, Futures Trading Commission, Treasury Department, bitcoin, BlackRock, Fidelity, Reuters, terraUSD, UST, Traders, Twitter, SEC, Supreme, Anadolu Agency, Alameda Research, ., Republicans, Bankman, AFP, of Prisons, District, Bank, DOJ, CFTC, Treasury, Binance, New, Commercial Bank Locations: U.S, Balkans, Podgorica, Montenegro, Singapore, Dubai, Serbia, Balkan, South Korea, United States, lockstep, New York, Manhattan, Seattle, Lompoc , California, Binance

☆ Crypto billionaire Michael Novogratz's firm has tokenized a 316-year-old violin owned by Catherine the Great in order to back a loan
▼ + stars: | 2024-06-04 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Mike Novogratz's firm has tokenized an 18th-century violin as collateral against a loan, Galaxy said in a press release. Tokenizing the instrument is a way to boost liquidity, and make it more available to interested investors. AdvertisementThe crypto-focused firm Galaxy Digital has tokenized an 18th-century violin, creating a blockchain version of the instrument to use as collateral for a multimillion loan, Bloomberg reported. It is now in the care of Galaxy, which provided Siu a loan, and is using the violin to back it. He added that he is open to eventually fractionalizing the tokenized instrument, allowing investors to purchase a claim.

Persons: Mike Novogratz's, Galaxy, Yat Siu, —, Catherine the Great, Siu, Michael Novogratz Organizations: Animoca Brands, Service, Galaxy, Bloomberg

☆ Founder and CEO Mike Novogratz: The best way to learn about crypto is to put 'a little money on the line'
▼ + stars: | 2024-05-23 | by ( Emmie Martin | Cfp | ) www.cnbc.com time to read: +1 min

Even some bulls say to start small if you're interested in investing in cryptocurrency. Billionaire Mike Novogratz, founder and CEO of Galaxy Digital, a digital asset and blockchain company, recommended starting with 2% to 5% of your overall portfolio during CNBC's Financial Advisor Summit on Wednesday. If you want to learn about crypto, you should at least "get off zero," Novogratz said, because doing so will get you engaged. "You learn about things by putting a little money on the line. As an industry insider, it makes sense for Novogratz to encourage as many people as possible to learn more about and invest in crypto.

Persons: Mike Novogratz, Novogratz, Brian Vendig Organizations: cryptocurrency, Galaxy Digital, CNBC's, MJP Wealth, CNBC Locations: Westport , Connecticut

☆ Bitcoin will drop 13% to $50,000 after falling below a key support level as macro drivers slow, Standard Chartered says
▼ + stars: | 2024-05-01 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Bitcoin's break below $58,000 on Wednesday clears a path for it to fall as low as $50,000, Standard Chartered said in new research. The crypto's decline has been driven by rising ETF outflows and falling US liquidity levels. AdvertisementDeteriorating conditions are denting the Bitcoin rally, with this week's drop below $60,000 putting it en route for an even lower price range. According to commentary from Standard Chartered, the apex token could temporarily reach as low as $50,000, signaling an over 13% drop from current levels. Among these are shrinking investments in spot bitcoin ETFs, funds that first sparked the rally at the year's start.

Persons: —, Geoff Kendrick, Kendrick, Mike Novogratz, he's Organizations: Chartered, outflows, Service, Standard Chartered, FX Locations: Hong Kong

☆ Galaxy Digital CEO Mike Novogratz on bitcoin volatility
▼ + stars: | 2024-04-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGalaxy Digital CEO Mike Novogratz on bitcoin volatilityGalaxy Digital CEO Mike Novogratz joins 'Squawk Box' to discuss the recent volatility in bitcoin, how to approach the 'bitcoin halving' event, and more.

Persons: Mike Novogratz Organizations: Galaxy

☆ Watch CNBC's full interview with Galaxy Digital CEO Mike Novogratz on bitcoin volatility
▼ + stars: | 2024-04-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Galaxy Digital CEO Mike Novogratz on bitcoin volatilityGalaxy Digital CEO Mike Novogratz joins ‘Squawk Box’ to discuss the recent volatility in bitcoin, how to approach the 'bitcoin halving' event, and more.

Persons: Mike Novogratz Organizations: Galaxy Digital, Galaxy

☆ Altcoins are finally joining the current bitcoin rally as crypto investors turn risk-on
▼ + stars: | 2023-11-11 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Altcoins were in rally mode this week after lagging bitcoin in its recent climb to new 2023 highs. Bitcoin and ether have been separate from this trend recently, with more investors appearing to treat them as a safety trade compared to smaller, riskier altcoins. "Historically we've seen bitcoin rally, then Ethereum, then alts, and that pattern seems to be repeating as this bull market heats up," he said. "We see as a more likely scenario existing capital shifting from existing bitcoin products such as the Grayscale bitcoin trust, bitcoin futures ETFs and publicly listed bitcoin mining companies, into the newly-approved spot bitcoin ETFs," he said. He also said that bitcoin ETFs already exist in Canada and Europe but haven't garnered much interest from investors since their inception.

Persons: Altcoins, bitcoin, Polygon's, Bitcoin, Rob Ginsberg, Ginsberg, altcoins, – it's, It's, Ryan Rasmussen, Mike Novogratz, JPMorgan's Nikolaos Panigirtzoglou, haven't, Panigirtzoglou, — CNBC's Michael Bloom Organizations: Solana, ADA, ETH, Wolfe Research, Treasury, Bitwise Asset Management, Galaxy Digital, JPMorgan Locations: Canada, Europe

☆ Bitcoin jumps as ETF hopes drive the token to $30,000
▼ + stars: | 2023-10-20 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

The token spiked 10% briefly on Tuesday after a false report said the SEC approved BlackRock's spot bitcoin ETF. Bullishness around a the spot bitcoin ETF is high, with calls growing for the SEC to sign off on a first-ever fund. AdvertisementAdvertisementBitcoin moved above $30,000 on Friday, spiking above the closely watched threshold before paring some gains, as a week of bullishness around a spot bitcoin ETF helps push the token higher. Hopes for a spot bitcoin exchange-traded fund have helped fuel the latest rally. The SEC has already approved bitcoin futures ETFs, though regulators have turned down bitcoin spot ETF applications repeatedly in recent years.

Persons: Bitcoin, —, Mike Novogratz, Novogratz, Gary Gensler Organizations: SEC, Service, Securities and Exchange Commission, Fidelity, Galaxy Digital, House Financial Services Locations: New York, BlackRock

☆ Cryptocurrencies head for a winning week, bitcoin tops $30,000 on ETF optimism and flight to safety
▼ + stars: | 2023-10-20 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Bitcoin extended its weekly gains on Friday, briefly topping $30,000 at one point for the second time this week, as confidence a spot bitcoin ETF will soon be greenlit grew and crypto investors continued weighing uncertainty in the U.S. and abroad. The price of the flagship cryptocurrency was recently up nearly 3% on Friday at $29,602.80, according to Coin Metrics. It's on pace for a 11% weekly gain, its best since June 23 when it added 17%. Higher yields historically have had a negative effect on bitcoin, but the crypto asset is benefiting from a key catalyst investors have been watching all year: the approval of what would be the first spot bitcoin ETF in the U.S. Earlier this week, JPMorgan said the Securities and Exchange Commission is likely to approve an ETF in the next few months.

Persons: Bitcoin, greenlit, cryptocurrency, Mike Novogratz, Invesco Organizations: Metrics, Treasury, U.S, JPMorgan, Securities and Exchange Commission, SEC, CNBC Locations: U.S

☆ Mike Novogratz thinks the SEC will approve a bitcoin ETF as early as this year
▼ + stars: | 2023-10-18 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

The crypto market has effectively been on pause – aside from a quick and short-lived spike this week – as investors wait for the SEC to give the green light to a bitcoin ETF. This week bitcoin, as well as shares of Coinbase , briefly spiked on a false report that BlackRock 's proposed spot bitcoin ETF had been approved by the SEC. BlackRock first filed its application in June and several other institutional players including Galaxy followed, taking BlackRock's move as a bullish signal for bitcoin ETF prospects as well as the long-term trajectory of bitcoin itself. Although no bitcoin ETF has been greenlit still, Novogratz highlighted BlackRock's bitcoin blessing on Wednesday as another sign that "the dialogue with the SEC is all heading in the right direction." Ark Invest CEO Cathie Wood echoed that sentiment this week, telling CNBC's "Halftime Report" the "SEC is engaging with us for a bitcoin ETF application.

Persons: Mike Novogratz, Novogratz, Cathie Wood, CNBC's, bitcoin, Godot Organizations: SEC, Galaxy Investment Partners, Invesco, CNBC Wednesday, Securities and Exchange Commission, Coinbase, BlackRock, Galaxy Locations: U.S

☆ A spot bitcoin ETF is coming this year and the SEC's loss in court made clear that its opposition makes 'intellectually zero sense,' billionaire crypto bull Mike Novogratz says
▼ + stars: | 2023-10-18 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

A spot bitcoin ETF could be coming as soon as this year, crypto bull Mike Novogratz said. Still, regulators have repeatedly punted on a decision to approve any bitcoin ETF this year. AdvertisementAdvertisementA spot bitcoin exchange traded fund is coming as soon as 2023, according to Galaxy Digital CEO Mike Novogratz. The billionaire crypto bull pointed to multiple requests by firms to launch a spot bitcoin ETF over the past year. There's also high demand for a spot bitcoin ETF.

Persons: Mike Novogratz, —, Novogratz, There's, Bitcoin, Larry Fink's Organizations: CNBC, Service, Galaxy Digital, Securities and Exchange Commission, SEC, BlackRock Locations: BlackRock

☆ Bankrupt crypto exchange FTX picks Galaxy to manage its digital assets
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +1 min

FTX logo is seen in this illustration taken March 31, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsAug 24 (Reuters) - Bankrupt crypto exchange FTX has hired U.S. crypto firm Galaxy as an advisor to help hedge and sell its crypto holdings, according to court filings made late on Wednesday. Hedging of bitcoin and ether will provide a means to lessen FTX's exposure to adverse price movements before their sale, the filing said. Galaxy, owned by billionaire investor Mike Novogratz, will also help "stake" FTX's crypto, a process where crypto is lent to validate blockchain transactions, earning interest in the process. FTX filed for bankruptcy in November 2022 in the wake of claims that the company misused and lost billions of dollars worth of customers' crypto deposits.

Persons: Dado Ruvic, FTX, Mike Novogratz, Brian Glueckstein, Shivani Tanna, Janane Organizations: REUTERS, Galaxy, Asset Management, Thomson Locations: Wilmington , Delaware, Bengaluru

☆ Here's how to invest $100,000 right now, according to billionaire Mike Novogratz
▼ + stars: | 2023-08-01 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Billionaire Mike Novogratz would put $100,000 in Alibaba stock, silver, gold, ether, and bitcoin. That advice is for young and risk-tolerant investors, he told David Rubenstein on Bloomberg TV. But for more risk-averse investors, Novogratz said they should mainly focus on bonds. I'd be buying silver, gold, bitcoin and ethereum. His preferred assets have made gains year to date, with Alibaba up 12%, gold 7.7%, silver 3.5%, ether 52.5%, and bitcoin 74.4%.

Persons: Mike Novogratz, David Rubenstein, Novogratz, That'd, bitcoin, Larry Fink's, Fundstrat Organizations: Bloomberg, Service, Privacy, Galaxy Digital Locations: Wall, Silicon, Beijing, BlackRock

☆ Bitcoin could hit a new high now that BlackRock's Larry Fink got 'orange-pilled' and became a true believer, billionaire Mike Novogratz says
▼ + stars: | 2023-07-31 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Bitcoin could hit a new record high now that Blackrock's Larry Fink is a believer, Mike Novogratz said. "The most important thing that happened this year in bitcoin is Larry Fink," he said on Bloomberg TV. "I think the most important thing that happened this year in bitcoin is Larry Fink," the Galaxy CEO said in an interview on Bloomberg TV with David Rubenstein. This pivoting sentiment could help bitcoin surpass its $69,000 record set in 2021, Novogratz said, further supported by a future cut in interest rates. The token stands out for its use of an eyeball scanner, used to establish unique digital identities per user.

Persons: Bitcoin, Larry Fink, Mike Novogratz, Larry Fink's, David Rubenstein, —, Larry, Fink, bullishly, Novogratz, Fundstrat, OpenAI, Sam Altman, Altman Organizations: Bloomberg, Service, Galaxy, Securities and Exchange Commission Locations: bitcoin, Wall, Silicon, BlackRock

And, in that same earnings call earlier this year, Novogratz said Galaxy hired some traders based in Hong Kong. Just this week, Societe General 's crypto arm received approval by France's financial regulator to offer crypto services, including crypto assets. The next month, Hong Kong implemented a new licensing regime so crypto exchanges can serve retail customers. Hong Kong, in particular, has tried to position itself as an international hub for crypto. Galaxy Chief Investment Officer Chris Ferraro echoed that sentiment in a recent "Crypto World" interview.

Persons: –, Mike Novogratz, Brian Armstrong, Novogratz, Cantor Fitzgerald's Elliot Han, Dean Sovolos, Lily King, Cobo, Owen Lau, Chris Ferraro, Kraken –, Binance, Han, we're Organizations: BlackRock, SEC, Washington, Galaxy, United, Gemini, Payment, Societe, European Union, Crypto, Assets Regulatory Authority, Financial, Oppenheimer, U.S, Coinbase, Huobi, BTC Locations: U.S, Europe, Hong Kong, Abu Dhabi, Dubai, Bermuda, United Arab Emirates, Asia, Gurgaon, India, Singapore, United States, East, VARA, B2C2, Silicon, London, Berlin, China

☆ CNBC Pro speaks with the Galaxy Investment Partners CEO on what's next for Bitcoin and the markets
▼ + stars: | 2023-05-02 | by ( Joshua Natoli | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCNBC Pro speaks with the Galaxy Investment Partners CEO on what's next for Bitcoin and the marketsCNBC's Bob Pisani sat down with Galaxy Investment Partners CEO, Mike Novogratz, at the BTIG Charity Day in New York City. They discuss the future of Bitcoin and the cryptocurrency space, as well as what the Federal Reserve's next move is.

☆ Fanatics moves one step closer to IPO, hiring Meta's head of investor relations
▼ + stars: | 2023-04-27 | by ( Ian Thomas | ) www.cnbc.com time to read: +7 min

While an IPO is not on the immediate horizon, the company is taking a step in the direction of preparing for one, hiring Meta's investor relations head to further build out its engagement with current and future shareholders. Deborah Crawford, who has served as Meta 's vice president of investor relations for more than eight years, is being appointed as Fanatics' head of investor relations, a new position at the company. Prior to Meta, Crawford was head of investor relations for Netflix, where she helped initiate the streaming company's first formal investor relations function, according to Fanatics. Schiffman declined to comment on the potential timing of a Fanatics IPO but confirmed the company has a goal of going public. Fanatics has seen its valuation and investor roster drastically expand in recent years, which has also helped to fuel IPO chatter.

☆ Mike Novogratz on what’s driving bitcoin’s run to $30k and where he sees it going from here
▼ + stars: | 2023-04-11 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

And so, the adoption cycle always accelerates when the price is going up – and we're seeing that – but it really has been a crypto-led rally." Bitcoin halving, a pending credit crunch and greater adoption should drive crypto to new highs within the next two years, he added. The comments from Novogratz come as bitcoin punched above the $30,000 level for the first time since June, while ether advanced toward the $2,000 level. Crypto assets have rallied this year as some investors bet the Federal Reserve will soon pause its hiking cycle. Despite renewed regulatory scrutiny around Coinbase , he expects the company to thrive because it's "doing a lot of smart things."

☆ Latest crypto rally not built on new money, says Galaxy Digital CEO Mike Novogratz
▼ + stars: | 2023-04-11 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLatest crypto rally not built on new money, says Galaxy Digital CEO Mike NovogratzGalaxy Digital CEO Michael Novogratz joins ‘Squawk Box’ to discuss the state of cryptocurrency, potential U.S. regulatory framework, and whether the crypto market can bounce back.

☆ What happens during a ‘credit crunch’ — and how you can prepare for one
▼ + stars: | 2023-03-20 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

But what is a credit crunch and how might you prepare? Loans would be tougher to getDuring a credit crunch, banks significantly tighten their lending standards. Banks may prioritize a healthier balance sheetA credit crunch seems likely given banking woes that have unfurled over the past two weeks. A severe credit crunch isn't a foregone conclusion, though. How to prepare for a credit crunchThere are some steps consumers can take now to prepare for a possible credit crunch.

☆ Goldman Sachs just told us the banking crisis makes it more pessimistic about the economy - and other recession signals are blaring too
▼ + stars: | 2023-03-17 | by ( Phil Rosen | ) www.businessinsider.com time to read: +7 min

The bank crisis that started with Silicon Valley Bank last Friday continues to unfold with what feels like to-the-minute developments. First Republic Bank branch on Park Avenue in New York City. In light of the bank runs, bank failures, and bank stock volatility, those odds are now at 35%, strategists said Thursday, citing "increased near-term uncertainty" surrounding the effects of small bank stress. Silicon Valley Bank and Signature Bank marked the second and third largest bank failures in history, respectively, behind only Washington Mutual in 2008. She explained why you should be prepared for more interest-rate volatility as fears of a financial crisis rise.

☆ Mike Novogratz says a credit crunch looms as banking crisis grows. Where he's looking for safety
▼ + stars: | 2023-03-15 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

The turmoil in the banking sector will hit the economy and continue to drag down the stock market, investor Mike Novogratz said Wednesday. In the latest crisis to hit the banking sector, Credit Suisse 's largest investor, Saudi National Bank, said it could not provide any more funding , according to Reuters. CS 1D mountain CS drops The decline added to pressure on U.S. stocks and the banking sector, which is already grappling with the collapse of Silicon Valley Bank and crypto-focused Signature Bank. On Sunday, banking regulators said it would backstop depositors with money at Silicon Valley Bank. Gold prices have moved higher , with the precious metal hitting a one-month high Monday as the banking turmoil drove bets the Fed may even pause its rate hikes.

☆ The US is heading for a credit crunch and now is the time to buy gold and bitcoin, Galaxy CEO Mike Novogratz says
▼ + stars: | 2023-03-15 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Galaxy Digital CEO said that the US is heading for a credit crunch and economic downturn. "[T]he commodity market is telling you, the oil market is telling you we're heading into a recession." "The commodity market is telling you, the oil market is telling you we're heading into a recession." Gold, meanwhile, rallied 1.37% Wednesday to about $1,937.50, and Brent crude oil, the international oil benchmark, tumbled 5.6% to trade around $73 a barrel. "And so you're going to see a credit crunch happening in the United States and that's starting to get priced into the market in a dramatic way."

☆ Galaxy Digital CEO Mike Novogratz: 2022 was a grand washout for crypto and growth stocks
▼ + stars: | 2023-01-10 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGalaxy Digital CEO Mike Novogratz: 2022 was a grand washout for crypto and growth stocksMichael Novogratz, CEO of Galaxy Digital, joins 'Squawk Box' to discuss Coinbase's decision to cut 20% of its workforce, the infrastructure around cryptocurrencies, and more.

☆ Billionaire bitcoin bull Mike Novogratz says 2023 will be a year for crypto markets to try and survive, and 'heal and rebuild narrative'
▼ + stars: | 2023-01-10 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +2 min

Galaxy Digital CEO Mike Novogratz is still mostly upbeat about crypto in 2023. "The outlook for crypto is not horrible, but it's not great," Novogratz told CNBC. The bitcoin bull said crypto brokerage Genesis' liquidity woes are hanging over the industry. The bitcoin bull says the crypto outlook is "not horrible, but it's not great," he told CNBC's Squawk Box on Tuesday. Novogratz says that the Gemini and DCG debacle won't involve "a lot of selling" for crypto markets, but it's "just not great news."

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