Novogratz says he’s fine with Trump’s crypto involvement 

In a recent interview with Bloomberg Television, Galaxy Digital CEO Mike Novogratz said he’s comfortable with Donald Trump’s involvement in crypto as long as it follows the rules. He argued that businesses linked to the Trump family are transparent and comply with U.S. Securities and Exchange Commission (SEC) requirements. “I don’t think you can prevent the children of people in power from participating in business,” he said.

Novogratz noted it was expected that Democrats would criticise the President’s involvement in crypto. He warned that such opposition could slow down approval of the Financial Innovation and Technology for the 21st Century Act (FIT21), a bill seeking to establish a clear regulatory framework for digital assets. FIT21 aims to clarify whether tokens are securities, regulated by the SEC, or commodities, overseen by the Commodity Futures Trading Commission (CFTC).

Discussing the current crypto market cycle, Novogratz said it could differ from previous ones. Unlike in 2017 and 2021, he believes investors may not rush to sell at the peak. He highlighted the growing mainstream use of stablecoins, which are now legally accessible on smartphones and through social media apps.

This broader accessibility, he argued, could drive a “new wave of participation” and prevent the market from repeating its usual boom-and-bust pattern. The trend is reinforced by the GENIUS Act (Guiding and Establishing National Innovation for the U.S. Stablecoins), which introduces a federal framework for stablecoins. Like FIT21, the bill won bipartisan support and is seen as an important step toward legitimising digital currencies while bolstering the U.S. dollar’s role in digital transactions.

Related article: Elizabeth Warren Accuses Crypto Lobby of Pushing Bills to Enrich Trump