BasEx | Mike Novogratz on Binance Deal with US Authorities
Mike Novogratz Calls Binance's Deal with US Authorities 'Positive'
01.12.2023
Mike Novogratz Calls Binance's Deal with US Authorities 'Positive'

The regulation by US authorities of claims against Binance and its former CEO Changpeng Zhao represents a positive turn for the company and the entire cryptocurrency industry. This was stated by Mike Novogratz, CEO of Galaxy Digital, in an interview with Bloomberg.

Novogratz noted that Binance's clients have received greater protection from risks, considering their concerns about collaborating with the platform. He also emphasized the importance of collaborating with companies that take a serious approach to their business, recalling the complex relationships between major financial players and regulators.

According to him, the sanctions and fines imposed on traditional finance (TradFi) banks in the last two years are shocking, but this should not be a basis for ignoring potential partners.

Speaking of Binance, Novogratz mentioned that the company corrected some serious violations of KYC protocols, paid a fine, and is moving forward, positively impacting the entire industry.

He also predicted a rise in Bitcoin prices, especially in light of the potential reduction in rates by the US Federal Reserve, and mentioned the upcoming US presidential elections as an additional stimulus for growing interest in Bitcoin. In his view, instability in the US, Europe, and Japan encourages investment in Bitcoin as "digital gold".

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