FTX’s bankruptcy bitcoin and negatively impacted the cryptocurrency market. BTC and in altcoins sharp declines and BTC saw new lows.
Evaluating FTX’s bankruptcy and falling prices Mike Novogratz, CEO and founder of Galaxy Digital, He spoke on CNBC’s Squawk Box.
Former CEO of FTX SBFMike Novogratz, who said he was surprised to see .
In this context, Novogratz stated that investors in the exchange do not lend their funds for personal business of FTX and SBF.
“The SBF has definitely done illegal things with our money and is roaming freely in the Bahamas.
When you invest your dollars in his exchange, they are your coins and using them for personal business was not part of the deal. This is a fraud.”
Reiterating that he had been exposed to approximately $76.8 million in FTX, Novogratz said the SBF was likely to go to jail after ongoing investigations.
bitcoin and also commenting on the crypto money market, Novogratz stated that he thinks positively about crypto.
Noting that even though there is a bubble situation in cryptocurrencies, this gives a long-term buying opportunity, the famous CEO stated that Bitcoin has not gone anywhere and will continue to exist.
“The FTX bankruptcy damaged the confidence of investors in the market.
But there are 150 million people who have decided to keep some of their money in crypto. The number of these people is too large to be underestimated.
So I think Bitcoin and blockchain technology will continue to exist and not disappear.”
Mike Novogratz last but not least BTC He said that stable cryptocurrencies with a purpose like
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