{"id":16329,"date":"2025-09-24T06:22:54","date_gmt":"2025-09-24T04:22:54","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=16329"},"modified":"2025-09-24T06:22:54","modified_gmt":"2025-09-24T04:22:54","slug":"revolutionizing-us-policies-a-step-beyond-tradition-insights-from-novogratz","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/09\/24\/revolutionizing-us-policies-a-step-beyond-tradition-insights-from-novogratz\/","title":{"rendered":"“Revolutionizing US Policies: A Step Beyond Tradition – Insights from Novogratz”"},"content":{"rendered":"

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The enactment of two significant crypto legislations in the US will herald a fresh influx of crypto involvement that might overturn the conventional four-year market rhythm, states Galaxy Digital\u2019s Chief Executive Officer Mike Novogratz.<\/p>\n

Novogratz mentioned<\/a> to Bloomberg on Tuesday that the stablecoin-regulating GENIUS Act, signed into law<\/a> in July, alongside the CLARITY Act<\/a>, which delineates regulatory bodies\u2019 authority over crypto, would result in a surge of new investors that could disrupt the four-year cycle trend.<\/p>\n

\u201cIt\u2019s a significant matter. With these two legislative bookends, it\u2019s set to unleash a substantial amount of new participation in crypto.\u201d<\/p><\/blockquote>\n

Numerous crypto investors believe the market adheres to a trend of price fluctuations coinciding with the Bitcoin (BTC<\/a>) halving approximately every four years. The last halving took place in April 2024, leading some to speculate that the current bullish market might soon conclude.<\/p>\n

Mike Novogratz on Bloomberg on Tuesday. Source: <\/em>Bloomberg<\/em><\/a><\/figcaption><\/figure>\n

Nevertheless, Novogratz mentioned that this crypto market cycle might be distinct, as investors are less likely to sell at peak points at the end of this year compared to 2017 and 2021.<\/p>\n

He remarked that previously, individuals couldn\u2019t utilize stablecoins on their iPhones or in social media applications because they weren\u2019t necessarily legal, \u201cbut now they are.\u201d<\/p>\n

\u201cYou\u2019re going to witness this new wave of involvement, so we might not adhere to the standard cycle.\u201d<\/p><\/blockquote>\n

CLARITY Act a \u201cfreight train\u201d<\/h2>\n

Coinbase\u2019s Chief Executive Officer Brian Armstrong expressed Novogratz\u2019s viewpoint<\/a> on Sept. 17, asserting that he was convinced Congress would pass the CLARITY Act, which stipulates the duties of the nation\u2019s financial regulatory agencies concerning crypto.<\/p>\n

\u201cI\u2019ve honestly never felt more optimistic about the market structure [bill] getting approved, it\u2019s a freight train departing the station,\u201d he stated at that moment.<\/p>\n

Last week, Representative French Hill mentioned<\/a> that the House Financial Services Committee is hopeful that action will be taken on the legislation in either October or November.<\/p>\n

Democrats could resist the legislation<\/h2>\n

Novogratz also minimized worries regarding the Trump family’s involvement in crypto, confident that the Securities and Exchange Commission would address any potential conflicts of interest.<\/p>\n

\u201cI don\u2019t believe you can stop the children of powerful individuals from engaging in business,\u201d he stated.<\/p>\n

He noted that Democratic lawmakers might make a considerable issue over what they regard as \u201cgrift\u201d from the Trumps and potentially oppose the crypto market structure bill.<\/p>\n

Related: <\/strong><\/em>Top US Democrat signals fight over crypto market structure<\/strong><\/em><\/a><\/p>\n

Novogratz asserted that there are now sufficient Democrats who recognize the importance of crypto to pass the bill, but it was \u201cunwise for Democrats to be anti-crypto\u201d during last year\u2019s presidential election.<\/p>\n

Chinese miners and Hayes contributed to market decline<\/h2>\n

Commenting on this week\u2019s leverage decline, which saw nearly $200 billion evaporated from spot crypto markets, Novogratz attributed the downturn to \u201csignificant Chinese mining selling,\u201d and Arthur Hayes\u2019 \u201cbearish remarks concerning Hyperliquid.\u201d<\/p>\n

\u201cHyperliquid was affected the most, and that influenced some of the overall market sentiment, but I consider this merely a pullback.\u201d<\/p><\/blockquote>\n

Hayes divested his entire reserve of HYPE to make a payment on a Ferrari<\/a>, and the token has decreased over 23% since its all-time high late last week as whales continue to sell<\/a> it off.<\/p>\n

Magazine: <\/strong><\/em>Hayes predicts \u2018up only\u2019 for crypto, ETH staking exit queue anxieties: Hodler\u2019s Digest<\/strong><\/em><\/a><\/p>\n