Galaxy Digital CEO predicts more firms entering crypto space, $250M directed to Republican Super PACs

Galaxy Digital CEO, Mike Novogratz, identifies as a "radical centrist" who supports both Democrats and Republicans. He suggests that the recent focus on cryptocurrency has caused many Democratic officeholders to soften their stance on the matter. Novogratz estimates that up to $250 million has been directed towards crypto-focused Super PACs, which have become "de facto" Republican. He predicts that if the crypto industry becomes a political force, traditional finance custodians such as State Street and Bank of New York will start custodying crypto, and more firms like Citi and Jeffries will enter the space. Additionally, Galaxy Digital plans to list in the U.S. as a public company by early next year.