Galaxy Digital CEO, Michael Novogratz, has expressed his belief that the US government has taken a hostile stance towards the cryptocurrency industry.
In an interview with Bloomberg, Novogratz stated that the Biden administration and the US Democratic Party don’t like cryptocurrencies, largely due to the collapse of the FTX exchange.
Novogratz believes that Sam Bankman-Fried, the founder of FTX, was a significant donor to the Democrats and had a good relationship with the SEC and the CFTC, which is why the Democrats have turned against cryptocurrencies.
Despite this, Novogratz remains positive about the future of the digital asset industry, noting that many countries outside the US are creating regimes that are friendly to cryptocurrency companies, such as Abu Dhabi and Hong Kong.
He believes that regulators should pay more attention to the field of artificial intelligence and allow the cryptocurrency industry to develop.
Despite the pressure from American regulators, the cryptocurrency community continues to move forward.