Mike Novogratz

This week Mike Novogratz joins the show to reflect on his path from a successful trading career to building and running Galaxy. We deep dive into the state of markets, what defines the most successful macro traders, Galaxy's AI data center opportunity, running a public company & more. Enjoy! -- Follow Mike: https://x.com/novogratz Follow Jason: https://x.com/JasonYanowitz Follow Empire: https://twitter.com/theempirepod -- Join the Empire Telegram: https://t.me/+CaCYvTOB4Eg1OWJh Start your day with crypto news, analysis and data from David Canellis. Subscribe to the Empire newsletter: https://blockworks.co/newsletter/empire?utm_source=podcasts -- Crypto-native institutions and developers demand institutional-grade infrastructure with regulatory clarity and full asset control. Blockdaemon's Earn Stack is a non-custodial platform combining high-performance staking rewards and seamless DeFi integration with no intermediate smart contract or vaults. Programmatically access leading Ethereum & Solana staking rewards, plus DeFi opportunities across lending protocols, DEXs, and AMMs. Book a Demo! -- peaq, the Machine Economy Computer, proudly sponsors the Empire podcast. peaq is home to 60+ apps across 20+ industries and millions of devices, machines, and onchain robots. It powers the world’s first tokenized robo-farm, launching soon in Hong Kong, and has launched the Machine Economy Free Zone in Dubai as a Web3 x Robotics x AI innovation hub. For more about peaq, check out www.peaq.xyz -- Mantle is pioneering ""Blockchain for Banking"" as a revolutionary new category that sits at the intersection of TradFi and web3. Key elements for Mantle as the ""Blockchain for Banking"": - Transactions posted to the blockchain - Compatibility with TradFi rails - Integrated DeFi features Mantle Network, the access layer — transforms Mantle Network into a purpose-built vertical platform — the blockchain for banking — that enables financial services on-chain. Mantle leads the establishment of Blockchain for Banking as the next frontier. Follow Mantle on X (@Mantle_Official) for the latest updates on Mantle as the 'Blockchain for Banking'. -- GEODNET is the world’s largest RTK network, delivering real-time, centimeter-level precision for drones, robots, farmers, and first responders. Recognized by the U.S. Congress, this blockchain-powered network supports mission-critical applications across a wide range of industries. Discover how GEODNET is changing the world: [https://geodnet.com] -- Timestamps: (00:00) Introduction (06:32) Mike's Outlook For Markets in 2025 (14:53) Are Markets Frothy, AI Capex & The Minsky Moment (24:26) Ads (Blockdaemon, Peaq) (25:36) What Will The Next Four Years For Crypto Look Like? (30:44) What Makes The Most Successful Macro Traders? (40:25) Ads (Blockdaemon, Peaq) (41:35) Hyperliquid (44:19) The AI Data Center Buildout (54:34) Ads (Mantle, Geodnet) (55:59) Galaxy's Crypto Business (59:06) Tokenizing Galaxy's Stock (01:03:14) Running A Public Company & The IPO Window (01:07:03) Final Thoughts -- Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.

Mike Novogratz

Founder & CEO

Galaxy DigitalGalaxy Investment Partners

Want Sam's playbook to turn ChatGPT into your executive coach? Get it here: https://clickhubspot.com/etb Episode 722: Sam Parr ( https://x.com/theSamParr ) sits down with Mike Novogratz ( https://x.com/novogratz ) about risk tolerance and coming back from massive losses. — Show Notes: (0:00) Mike’s first million (8:37) Starting Fortress (13:55) $30M to $2.3B (25:28) Operating system for life (35:41) Being early on crypto (40:26) Risk tolerance — Links: • Fortress - https://www.fortress.com/ • Galaxy - https://www.galaxy.com/ • Business Untitled - https://www.youtube.com/@BusinessUntitled — Check Out Shaan's Stuff: • Shaan's weekly email - https://www.shaanpuri.com • Visit https://www.somewhere.com/mfm to hire worldwide talent like Shaan and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than US equivalents. • Mercury - Need a bank for your company? Go check out Mercury (mercury.com). Shaan uses it for all of his companies! Mercury is a financial technology company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column, N.A., and Evolve Bank & Trust, Members FDIC — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com • Hampton Wealth Survey - https://joinhampton.com/wealth • Sam’s List - http://samslist.co/ My First Million is a HubSpot Original Podcast // Brought to you by HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

Mike Novogratz

Founder & CEO

Galaxy DigitalGalaxy Investment Partners

Mike Novogratz returns to Bankless to unpack Bitcoin’s surge to new all-time highs and what it means in a world grappling with fiscal uncertainty. We dive into the unfolding bond market crisis, why the Genius Act marks a new chapter for stablecoins, the tokenization of traditional finance, and how Galaxy is uniquely positioned at the crossroads of crypto and AI. This is a front-row seat to the changing macro tides and crypto’s place in the new financial order. ------ 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🌐SELF | PROVE YOUR SELF https://bankless.cc/Self 🟠BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance ------ TIMESTAMPS 0:00 Intro 0:18 Bitcoin Hitting All-Time High 1:57 Trump’s Tariffs' Effect on Bitcoin 5:56 Liz Truss Moment 2.0? 7:33 US Liz Truss’s Effect 8:49 Bitcoin, Gold, and the US Dollar 12:11 BTC as a New World Asset 15:29 Treasuries in Decline 18:05 Galaxy Going Public 21:26 The Genius Act 24:32 Anti-Crypto Army Gone? 27:03 US Consumer Crypto Market 31:22 Tokenizing Galaxy Assets on ETH 34:08 A Roadmap From SEC in the Future? 36:53 Year of Crypto IPOs? 38:30 TradFi Fades, Crypto Rises 39:46 The Terra Luna Case 44:05 Future of Galaxy and Crypto 50:48 Building and Scaling Data Centers 55:18 Closing & Disclaimers ------ RESOURCES Mike Novogratz https://x.com/novogratz Galaxy Digital https://www.galaxy.com/ Tokenization & RWAs (Galaxy Report) https://www.galaxy.com/research/insights/tokenization-and-the-future-of-finance/ ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

Mike Novogratz

Founder & CEO

Galaxy DigitalGalaxy Investment Partners

Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner slice into the juiciest topics in crypto. This week, Robert Leshner welcomes two special guests: Mike Novogratz, CEO of Galaxy, and Shaun Maguire, general partner at Sequoia Capital, for a one-of-a-kind debate on how the upcoming 2024 U.S. presidential election could shape the future of crypto. With the stakes higher than ever, they explore what a Harris or Trump presidency could mean for crypto regulation, market infrastructure, and the populist undercurrents driving the industry forward. From blockchain voting possibilities to the macroeconomic forces impacting Bitcoin and stablecoins, the conversation pushes beyond policy to the heart of crypto's role in tomorrow's world. This episode delivers crucial insights on the political forces that could redefine crypto’s trajectory in the U.S. and beyond. Show highlights 🔹 Crypto in the Election Crosshairs: Mike Novogratz and Shaun Maguire debate how a Trump or Harris presidency could reshape the U.S. crypto landscape. 🔹 Deregulation vs. Innovation: Trump’s pro-deregulation stance meets Harris’s pro-innovation campaign promises. Which path is better for crypto growth? 🔹 Crypto's Populist Appeal: How Trump’s base connects with crypto’s populist movement and why that resonates with “the people at the bottom” of the income bracket. 🔹 Deep State and Political Jaywalking: Shaun Maguire dives into the concept of “political jaywalking” and its impact on trust in U.S. elections. 🔹 The Future of Blockchain Voting: Could blockchain-based voting bring transparency to elections? The crew weighs in on the feasibility and timing of decentralized voting. 🔹 Bitcoin's Role in Macro Trends: With U.S. debt surging, Mike and Shaun share their thoughts on Bitcoin as a hedge, whether Trump or Harris takes office. 🔹 The Crypto Political Machine: A look at how crypto insiders engage with political campaigns and the industry’s impact on down-ballot races. 🔹 Wildcard Assets: How a national Bitcoin reserve might impact U.S. fiscal policy – could it ever happen under Harris? Hosts ⭐️Robert Leshner, CEO & Co-founder of Superstate Guests ⭐️Mike Novogratz, CEO of Galaxy ⭐️Shaun Maguire, general partner at Sequoia Capital Disclosures Timestamps  00:00 Introduction 02:03 Shaun’s Argument for Trump 05:10 Mike's Argument for Harris 11:10 Political Bias and Prediction Markets 18:25 Flynn & Political Jaywalking 24:26 Macroeconomic Implications for Crypto 30:29 Bitcoin Price Predictions Post-Election 32:38 Gold & Central Bank Dynamics 34:41 Nation States & Bitcoin Reserves 37:35 Military Technology & Future Dominance 39:10 Presidential Campaign Issues & AI 47:44 Election Integrity & Blockchain Voting 53:17 Crypto's Influence in Politics 56:42 $WLFI Endeavors 01:00:17 Closing Thoughts Learn more about your ad choices. Visit megaphone.fm/adchoices

Mike Novogratz

Founder & CEO

Galaxy DigitalGalaxy Investment Partners

Shaun Maguire

Partner

Sequoia Capital

The herd is coming, or is it already here? Mike Novogratz needs no introduction for long-time crypto natives. For those that are newer? Mike is a fund manager who was early to bitcoin, very early to ethereum, built an entire digital assets empire called Galaxy Digital and spent the last 10 years evangelizing crypto to Wall Street and more recently, to DC. We cover how Crypto has evolved from 2014 to 2024, what’s Wall Street’s current perception of our industry, the recent ETH ETF launch, Politics and Macro. Mike also ends the episode giving extremely important advice for young investors so stay tuned. ------ 📣 SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24  https://bankless.cc/spotify-premium  ------ BANKLESS SPONSOR TOOLS: 🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE https://k.xyz/bankless-pod-q2    ⁠  🦄UNISWAP | BROWSER EXTENSION https://bankless.cc/uniswap  ⚡️ FUEL | EARN FUEL POINTS https://bankless.cc/fuel  🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle    ⚖️ARBITRUM | SCALING ETHEREUM ⁠https://bankless.cc/Arbitrum  🗣️TOKU | CRYPTO EMPLOYMENT  https://bankless.cc/toku  ------ ✨ Mint the episode on Zora ✨ https://zora.co/collect/zora:0x0c294913a7596b427add7dcbd6d7bbfc7338d53f/38?referrer=0x077Fe9e96Aa9b20Bd36F1C6290f54F8717C5674E  ------ TIMESTAMPS 0:00 Intro 4:46 The Herd is Here 14:49 What Changed 20:07 Crypto on Wall Street 32:39 ETH ETF 39:39 Politics 51:27 Macro Outlook 58:10 ETH Narratives 1:03:34 Advice for Youngsters 1:08:20 Galaxy 1:10:24 Closing & Disclaimers ------ RESOURCES Mike Novogratz https://x.com/novogratz   Galaxy https://www.galaxy.com/   ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

Mike Novogratz

Founder & CEO

Galaxy DigitalGalaxy Investment Partners

In today's episode of 1000x, we are joined by Mike Novogratz, legendary trader and founder of Galaxy Digital. We talk about how Mike built an intuition for markets, how to synthesize trades, crypto's outlook, macro policy expectations, Mike's favorite trade and more! We'll drop a new 1000x episode on Empire's RSS feed and the 1000x YouTube channel every two weeks. Hit the links below and give us a follow! - - Timestamps: (00:00) Introduction (00:55) Developing an Intuition for Markets (03:25) How to Synthesize Trading Opportunities (07:17) Trading Crypto vs Macro: Similarities and Differences (11:42) Maintaining Conviction in Crypto (18:27) Crypto’s Most Interesting Opportunities (20:51) The Relationship Between BTC and Monetary/Fiscal Policy (30:41) Retail Adoption: Crypto Needs More Storytellers (37:19) Why Mike Started Galaxy (39:40) Favorite Trade of All Time (42:37) When to Sell vs Hold (48:22) Investing in Your Community and Making an Impact - - Follow Mike: https://twitter.com/novogratz Follow Jonah: https://twitter.com/jvb_xyz Follow 1000x: https://twitter.com/1000xPod Subscribe on YouTube: https://bit.ly/3FuSarX Subscribe on Apple: https://tinyurl.com/mv4frfv7 Subscribe on Spotify: https://tinyurl.com/wbaypprw Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ - - Resources: Golden Tree https://www.goldentree.com/ Cumberland https://cumberland.io/ https://twitter.com/CumberlandSays DRW https://drw.com/ https://twitter.com/DRWTrading - - Disclaimer: Nothing said on 1000x is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Avi, Jonah and our guests may hold positions in the companies, funds, or projects discussed.

Mike Novogratz

Founder & CEO

Galaxy DigitalGalaxy Investment Partners

This week on Prof G Markets, Scott speaks with Mike Novogratz, the founder and CEO of Galaxy Investment Partners, about crypto sociopaths and what it was like to look Sam Bankman-Fried in the eye just weeks before FTX’s collapse. They also discuss what’s next for Binance, government regulations, and why Mike doesn’t want Bitcoin to go to $1 million any time soon. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Mike Novogratz

Founder & CEO

Galaxy DigitalGalaxy Investment Partners

Mike Novogratz, the founder and CEO of Galaxy Digital, an investment firm focused on cryptocurrencies, blockchain technology, and digital assets, joins Scott to give us a macro view of the crypto space. He tells us about the various use cases of Bitcoin, Ethereum, and NFTs as well as how to think about investing in them. Follow Mike on Twitter, @novogratz.  Scott opens with his thoughts on conglomerates and offers a prediction for 2022. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Mike Novogratz

Founder & CEO

Galaxy DigitalGalaxy Investment Partners

Mike Novogratz, founder, CEO, and chairman of Galaxy Digital, digs into the drivers behind this week’s market selloff. Show highlights: the five factors Mike believes led to this week’s dip  what Mike thinks about the environmental concerns surrounding Bitcoin how Ethereum will perform in 2021 whether centralized blockchains will survive regulatory scrutiny why Galaxy Digital made its $1 billion acquisition of BitGo what sort of projects Galaxy Digital is mulling in the DeFi space when Mike thinks a bitcoin ETF could be approved Mike’s 2021 bitcoin price prediction   Thank you to our sponsors! Crypto.com: https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2021  Tezos: https://tezos.com/discover?utm_source=laura-shin&utm_medium=podcast-sponsorship-unconfirmed&utm_campaign=tezos-campaign&utm_content=hero  NEAR: https://near.org    Episode Links   Mike Novogratz: https://twitter.com/novogratz    Galaxy Digital: https://www.galaxydigital.io    Recommend Reads:  Galaxy Digital BitGo purchase https://www.coindesk.com/galaxy-digital-to-buy-bitgo-for-about-1-2-billion-in-stock-cash SEC skepticism regarding bitcoin ETF https://www.coindesk.com/sec-warns-mutual-fund-investors-of-bitcoin-futures-risks Galaxy Digital 2021 Q1 results https://www.coindesk.com/galaxy-digital-q1-aum-rose-58-net-comprehensive-income-more-than-doubles Galaxy Digital bitcoin ETF https://www.coindesk.com/galaxy-digital-files-for-us-bitcoin-etf  Youtube energy consumption https://www.iea.org/commentaries/the-carbon-footprint-of-streaming-video-fact-checking-the-headlines  https://thefactsource.com/how-much-electricity-does-youtube-use/ Dapper Labs lawsuit https://www.forbes.com/sites/andreatinianow/2021/05/17/no-slam-dunk-for-plaintiffs-in-nba-top-shot-moments-class-action-lawsuit/?sh=be89ec3df3da Learn more about your ad choices. Visit megaphone.fm/adchoices

Mike Novogratz

Founder & CEO

Galaxy DigitalGalaxy Investment Partners

In this week’s episode we speak with Mike Novogratz, the CEO of Galaxy Digital. He started his career at Goldman Sachs and then led a macro hedge fund at Fortress, which was shuttered in 2015. He then went all-in on crypto, in part thanks to convincing from his college roommate Joe Lubin, and founded Galaxy Digital, an investment bank for digital assets. After grinding through the 2018 and 2019 bear market, Mike says he can finally breathe. He is convinced that Bitcoin is finally derisked. While Bitcoin is firmly established as digital gold, to him, Ethereum is a venture bet because it’s not totally finished yet. It's getting there, and so the bet is it's going to happen, not that it's happened. Novo is wildly bullish DeFi. He says the threat to the banking system and payments is DeFi, not Bitcoin. But that also means the big guys are going to fight back with lobbying and regulation because protocols like Uniswap and Aave are going after their business. About the hype and rally in the crypto market, Novo says this time it’s different. Unlike in 2017, he doesn’t believe we’re in a bubble. He says we’re in a movement. Big thanks to our sponsors: Zerion, a simple interface to access and use decentralized finance Balancer, one of the leading DeFi automated market makers (AMM) for multiple tokens. Dive into their pools at https://balancer.finance/! Casper, an enterprise-focused blockchain which aims to introduce unprecedented security, speed and scale for businesses Kraken, consistently rated the best and most secure cryptocurrency exchange, which can get you from fiat to DeFi

Mike Novogratz

Founder & CEO

Galaxy DigitalGalaxy Investment Partners

Bitcoin, and crypto more broadly, have been on a huge tear lately. Then, with the chaos surrounding GameStop, there's been more discussion about whether financial markets could be rebuilt in a fairer way, perhaps involving crypto or decentralized finance. Probably one of the best positioned to take advantage of such a shift is Mike Novogratz, the CEO of Galaxy Digital, which might best be described as a crypto investment bank. Prior to his current endeavors, Novogratz was a global macro fund manager at Fortress Investment Group, and prior to that he was at Goldman Sachs, meaning he's seen the traditional finance world, and this new world. He talks to us about why he's so bullish on crypto, and how it can be used to create a fairer and better financial system. See omnystudio.com/listener for privacy information.

Mike Novogratz

Founder & CEO

Galaxy DigitalGalaxy Investment Partners

After bitcoin's price fell from its highs above $40,000 this past weekend, investors were left arguing about whether that drop to almost $30,000 was an inevitable market correction or a sign of something more sinister. Indeed, liquidations across futures venues soared to more than $3 billion as crypto exchange Coinbase reported persistent technical issues. But Galaxy Digital's Mike Novogratz isn't particularly worried.  "I am positive this is not November 2017," he said on this week's episode of The Scoop. "Listen, the market got way, way overbought. It was overbought by every statistic, every metric you can look." In spite of a fallen price, Novogratz said the real thesis of the past few months was adoption. More people have heard the bitcoin story, according to Novogratz, and a price correction won't meaningfully undercut that progress. There are still institutions waiting to buy, he said. "The bitcoin-as-a-hard-asset story remains intact," Novogratz added. "This is a wash-out, a position wash-out. I don't think it will be long-term damaging. $30,000 should hold."  He went on to highlight institutional firms that "haven't filled their coffers yet that continue to want to buy." "Insurance companies, asset managers, big institutions haven't bought bitcoin yet and they want to," said Novogratz. During this week's episode, Novogratz explains how he and Galaxy Digital are navigating the market correction, as well as:  Why this price drop won't scare off institutional investors The impact of the macro background and fiscal spending under a Joe Biden-led administration The businesses he's most excited about, particularly in the decentralized finance space How he's viewing Bakkt and Coinbase's plans to go public His advice for new market entrants. This episode of The Scoop is brought to you by Blockset. With Blockset, companies gain access to tools such as: 1. A highly scalable API that supports Bitcoin, Ethereum, Ripple, and other top chains 2. AML/KYC data expediting time to market by complying with legal requirements 3. Leading custody solutions using modern multi-party compute (MPC) technology  Learn more and start building today.

Mike Novogratz

Founder & CEO

Galaxy DigitalGalaxy Investment Partners

Mike Novogratz on Investing, Bitcoin, Ayahuasca, and Running Through The Sahara Desert | Brought to you by Magic Spoon, Four Sigmatic, and LMNT. Michael Novogratz (@novogratz) is the founder and CEO of Galaxy Digital. He was formerly a partner and president of Fortress Investment Group, LLC. Prior to Fortress, Michael spent 11 years at Goldman Sachs, where he was elected partner in 1998. Michael served on the Federal Reserve Bank of New York’s Investor Advisory Committee on Financial Markets from 2012–2015. Michael serves as the chairman of The Bail Project and has made criminal justice reform a focus of his family’s foundation. He also serves as the chairman of Hudson River Park Friends, and sits on the boards of NYU Langone Medical Center, Princeton Varsity Club, Jazz Foundation of America, and Artists for Peace and Justice. Michael received an AB in Economics from Princeton University, and served as a helicopter pilot in the US Army. * This episode is brought to you by Magic Spoon Cereal! Magic Spoon is a brand-new cereal that is low carb, high protein, and zero sugar. It tastes just like your favorite sugary cereal. Each serving has 12g of protein, 3g of net carbs, 0g of sugar, and only 110 calories. It’s also gluten free, grain free, keto friendly, soy free, and GMO free. And it’s delicious! It comes in your favorite, traditional cereal flavors like Cocoa, Frosted, and Blueberry. Magic Spoon cereal has received a lot of attention since launching last year. Time magazine included it in their list of Best Inventions of 2019, and Forbes called it “the future of cereal.” My listeners—that’s you—get free shipping and a 100% happiness guarantee when you visit MagicSpoon.com/TIM and use code TIM. * This episode is also brought to you by Four Sigmatic and their delicious mushroom coffee featuring lion’s mane and chaga. It tastes like coffee, but there are only 40 milligrams of caffeine, so it has less than half of what you would find in a regular cup of coffee. I do not get any jitters, acid reflux, or any type of stomach burn. It’s organic and keto friendly, plus every single batch is third-party lab tested. You can try it right now by going to FourSigmatic.com/Tim and using the code TIM. You will receive up to 39% off on the lion’s mane coffee bundle. Simply visit FourSigmatic.com/Tim. If you are in the experimental mindset, I do not think you’ll be disappointed. * This episode is also brought to you by LMNT! What is LMNT? It’s a delicious, sugar-free electrolyte drink-mix. I’ve stocked up on boxes and boxes of this and usually use it 1–2 times per day. LMNT is formulated to help anyone with their electrolyte needs and perfectly suited to folks following a keto, low-carb, or Paleo diet. If you are on a low-carb diet or fasting, electrolytes play a key role in relieving hunger, cramps, headaches, tiredness, and dizziness. LMNT came up with a very special offer for you, my dear listeners. They’ve created Tim’s Club: Simply go to DrinkLMNT.com/TIM, select “Subscribe and Save,” and use promo code TIMSCLUB to get the 30-count box of LMNT for only $36. This will be valid for the lifetime of the subscription, and you can pause it anytime. *** If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. For show notes and past guests, please visit tim.blog/podcast. Sign up for Tim’s email newsletter (“5-Bullet Friday”) at tim.blog/friday. For transcripts of episodes, go to tim.blog/transcripts. Interested in sponsoring the podcast? Please fill out the form at tim.blog/sponsor. Discover Tim’s books: tim.blog/books. Follow Tim: Twitter: twitter.com/tferriss Instagram: instagram.com/timferriss Facebook: facebook.com/timferriss YouTube: youtube.com/timferriss Past guests on The Tim Ferriss Show include Jerry Seinfeld, Hugh Jackman, Dr. Jane Goodall, LeBron James, Kevin Hart, Doris Kearns Goodwin, Jamie Foxx, Matthew McConaughey, Esther Perel, Elizabeth Gilbert, Terry Crews, Sia, Yuval Noah Harari, Malcolm Gladwell, Madeleine Albright, Cheryl Strayed, Jim Collins, Mary Karr, Maria Popova, Sam Harris, Michael Phelps, Bob Iger, Edward Norton, Arnold Schwarzenegger, Neil Strauss, Ken Burns, Maria Sharapova, Marc Andreessen, Neil Gaiman, Neil de Grasse Tyson, Jocko Willink, Daniel Ek, Kelly Slater, Dr. Peter Attia, Seth Godin, Howard Marks, Dr. Brené Brown, Eric Schmidt, Michael Lewis, Joe Gebbia, Michael Pollan, Dr. Jordan Peterson, Vince Vaughn, Brian Koppelman, Ramit Sethi, Dax Shepard, Tony Robbins, Jim Dethmer, Dan Harris, Ray Dalio, Naval Ravikant, Vitalik Buterin, Elizabeth Lesser, Amanda Palmer, Katie Haun, Sir Richard Branson, Chuck Palahniuk, Arianna Huffington, Reid Hoffman, Bill Burr, Whitney Cummings, Rick Rubin, Dr. Vivek Murthy, Darren Aronofsky, and many more. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Mike Novogratz

Founder & CEO

Galaxy DigitalGalaxy Investment Partners

This episode is the first in a series, Why Bitcoin Now, that takes a deeper dive into Bitcoin and the history of money in the macroeconomic environment of the coronavirus. Mike Novogratz, founder, CEO and chairman of Galaxy Digital, and Raoul Pal, founder and CEO of Global Macro Investor and Real Vision Group, tell us where they think Bitcoin is going amidst this macro uncertainty and the global crisis due to the coronavirus. We discuss:  why Bitcoin’s price hasn't risen in price due to the global turmoil, and instead fell with the rest of the market on Black Thursday  why quantitative easing is the catalyst for institutional investors to turn to Bitcoin, but why that takes time, and why registered investment advisors may be on the cusp why they think retail investors will continue to buy Bitcoin despite record unemployment why Bitcoin will benefit from social unrest why any particular country's success in dealing with the coronavirus won’t really lessen the economic impact there whether China's first-mover advantage with the DCEP and its comprehensive enterprise blockchain initiatives will undermine the global dominance of the US dollar  why they believe there will ultimately be a dollar-based stablecoin  why they believe Libra will be a strong player in the future of stablecoins  how election outcomes, and in particular a potential movement to break up Big Tech, could affect Bitcoin and the vision for Web3 whether Ethereum, and staking, will see more adoption from institutional investors  why they believe yield farming is ultimately not sustainable, but still profitable the impact the Bitcoin halving will have in this macroeconomic environment Unchained is hiring!  Check out our job listing for a remote editorial assistant here! Thank you to our sponsors!  Crypto.com: https://crypto.com Kelman Law: https://crypto.law  Stellar: https://www.stellar.org  Episode links:  Mike Novogratz: https://twitter.com/novogratz Galaxy Digital: https://www.galaxydigital.io Raoul Pal: https://twitter.com/RaoulGMI Real Vision: https://www.realvision.com Unchained interview with Kyle Samani on what happened in the crypto markets on Black Thursday: https://unchainedpodcast.com/teetering-on-the-edge-how-black-thursday-exposed-the-flaws-in-the-crypto-markets/ Unconfirmed interview with Antoine Le Calvez on what happened on BitMEX during Black thursday: https://unchainedpodcast.com/what-happened-on-bitmex-during-black-thursday/ Unchained interview with Chamath Palihapitiya on Bitcoin: https://unchainedpodcast.com/chamath-palihapitiya-why-bitcoin-will-be-the-category-winner/ Brian Armstrong tweet about deposits to Coinbase the same size as the $1,200 stimulus check: https://twitter.com/brian_armstrong/status/1250907110730170370?s=20 China's DCEP and blockchain initiative: https://unchainedpodcast.com/why-china-aims-to-replace-cash-with-the-digital-yuan/ Unchained interview on Libra: https://unchainedpodcast.com/a-libra-co-creator-on-how-facebook-will-make-money-from-calibra/ Unconfirmed interview with the Libra Association's Dante Disparte: https://unchainedpodcast.com/libras-dante-disparte-on-why-we-should-trust-a-financial-system-designed-by-facebook/ Unconfirmed interview with Michael Casey on why it would it would be good if Libra rivaled the USD: https://unchainedpodcast.com/why-it-would-be-good-if-libra-rivaled-the-us-dollar/ Christopher Giancarlo's digital dollar project: https://unchainedpodcast.com/christopher-giancarlo-why-the-us-needs-to-have-a-digital-dollar/ Ethereum 2.0 staking: https://www.coindesk.com/3-ways-staking-will-upend-the-economics-of-ethereum Unconfirmed with Kain Warwick on COMP's launch: https://unchainedpodcast.com/why-comp-5xed-on-day-1-and-what-this-means-for-a-defi-bull-market/ Unconfirmed interview with Tony Sheng on yield farming: https://unchainedpodcast.com/how-you-can-double-your-money-or-lose-everything/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Mike Novogratz

Founder & CEO

Galaxy DigitalGalaxy Investment Partners

Raoul Pal

Co-Founder and CEO

Real VisionGlobal Macro Investor

Unless you were hiding under a rock on Thursday, you would have seen the letter by macro investor Paul Tudor Jones that outlines his case for owning bitcoin as a hedge against central bank money printing.  In the letter – titled The Great Monetary Inflation – Jones dropped the bombshell update that Tudor Investment Corp could allocate a percentage of its assets to bitcoin futures. Although Jones doesn't subscribe to owning bitcoin "in isolation" or view himself as a "crypto nut," the coin community propelled into euphoria at the sight of one of the most respected fund managers giving the burgeoning asset a stamp of approval.  Galaxy Digital's Mike Novogratz – having once sat in a similar seat to Jones as a macro investor – joined The Scoop's Frank Chaparro and discussed the significance of Jones' letter. This latest episode also digs into: The macro investor's toolbox: Why it doesn't matter that Jones might allocate to futures rather than spot bitcoin More funds on the sidelines: Novogratz says many major fund managers he knows own bitcoin in their personal accounts but say it's too difficult to buy through their funds Update on Galaxy: How the firm revamped its playbook to take advantage of the new environment and why subscriptions for the asset management business have increased The macro picture: Why inflation could follow a period of deflation The dollar: Why Novogratz thinks the chances of China taking on dollar hegemony is at an all-time high Halving: How it’s fueling bitcoin’s bullish narrative and where bitcoin’s price is going after it happens This episode of The Scoop is brought to you by Bitstamp, the original global cryptocurrency exchange. Since 2011, Bitstamp has been a cornerstone of the industry, earning the trust of over four million individuals and top financial institutions looking for a reliable trading venue. Whether you’re trading on our web platform, mobile app or industry-leading APIs, Bitstamp gives you the professional-grade tools you need to execute your strategy. Download the Bitstamp app or visit Bitstamp.net/Pro to learn more and start trading today!

Mike Novogratz

Founder & CEO

Galaxy DigitalGalaxy Investment Partners

Galaxy Digital is one of the most well known brands in the market for digital currencies led by it's stalwart Mike Novogratz. The firm's origin story dates back to the bitcoin boom of 2017. Originally, Galaxy was to be a $500 million hedge fund which at the time reportedly lured the attention of family offices and other hedge fund managers. It also marked a striking comeback story for Novogratz who left his previous employer, Fortress Investments after his $2.3 billion macro-fund was liquidated resulting in his exile from the Wall Street world. Fast forward to 2019 and Galaxy Digital looks a lot different than it was described in initial reports. The nearly 80 person firm spans asset management, trading and consulting -- an operation some have likened to Wall Street's investment banks. In this episode of The Scoop Novogratz talked about Galaxy's multi-faceted role in the crypto market, why it is expanding into San Francisco and the reason why the bear market might not necessarily be over. I hope you enjoy the episode.

Mike Novogratz

Founder & CEO

Galaxy DigitalGalaxy Investment Partners

Listen to a preview of next week's The Scoop episode where Frank chats with Mike Novogratz, the Founder, CEO and Chairman at Galaxy Digital.

Mike Novogratz

Founder & CEO

Galaxy DigitalGalaxy Investment Partners

Mike Novogratz, founder and CEO of Galaxy Digital Holdings, describes the company's services and products, why it's launching a credit offering, and why he pivoted from his original intention to launch a crypto hedge fund and then pivoted again from working with ICOs to serving institutional players. He talks about why, if he had the chance to go public again, he wouldn't do it, why Galaxy's stock fell so precipitously one day that trading was halted, and why he thinks the SEC has made it clear the ICO markets are closed. He also talks about why, on the way to democratizing finance, the crypto markets need to "take a step back" and start with institutions, why decentralization is important, and why he thinks the launch of Bakkt is the most important news in the crypto space this year. Plus, Mike surmises as to how consumers will start using crypto, but believes it won’t replace fiat in the Western world. Thank you to our sponsors! Microsoft: aka.ms/unchained CipherTrace: https://ciphertrace.com/unchained Episode links: Galaxy Digital: https://www.galaxydigital.io Galaxy Digital's losses so far this year: https://www.bloomberg.com/news/articles/2018-11-28/novogratz-s-crypto-trading-desk-lost-136-million-in-nine-months https://www.bloomberg.com/news/articles/2018-07-26/novogratz-s-galaxy-digital-sees-134-million-loss-on-crypto-drop Unchained episode about security tokens: http://unchainedpodcast.co/harbor-and-trusttoken-on-why-they-dont-mind-being-unsexy-ep77 Unchained interview with Philip Rosedale of High Fidelity: http://unchainedpodcast.co/why-its-so-hard-to-keep-stablecoins-stable Unconfirmed episode with Tom Jessop of Fidelity Digital Assets: http://unconfirmed.libsyn.com/fidelity-digital-asset-services-tom-jessop-on-why-its-serving-institutional-clients-first-ep043 Unchained podcast with Arthur Hayes of Bitmex: http://unchainedpodcast.co/arthur-hayes-of-bitmex-on-why-countries-will-turn-to-digital-cash-ep63 Learn more about your ad choices. Visit megaphone.fm/adchoices

Mike Novogratz

Founder & CEO

Galaxy DigitalGalaxy Investment Partners