A little over a year ago, when I interviewed Mike Novogratz, a veteran hedge-fund manager and crypto billionaire, I asked him what he was excited about. The CEO of Galaxy Digital, a blockchain-focused investing firm, had a short list to tout that included “luna, my new favorite coin.” By January of this year, after luna’s price soared to $100, Novogratz had celebrated the cryptocurrency with a tattoo on his shoulder, depicting a wolf howling at the moon:
When I spoke with Novogratz this week — in the wake of the stunning $50 billion collapse of the luna cryptocurrency and its blockchain ecosystem — I reminded him of that earlier conversation and his plug of luna. “Yeah, erase that one,” he said ruefully. (To be fair, in our last conversation, around cryptocurrency’s peak last year, he did advise newly rich crypto investors to “be prudent, take some chips and buy yourself a house if you can afford it.”) The crypto crash, in luna and the industry more broadly, has burned Galaxy’s...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...