Novogratz Says Stablecoin Bill Will Push Traditional Finance Toward Crypto

Billionaire Michael Novogratz said that the passage of landmark stablecoin legislation will bring more traditional financial institutions into the cryptocurrency market.

“We set up Galaxy in 2017 with the idea that institutions would finally come to the market and they’re here,” Novogratz, the founder and chief executive officer of Galaxy, said during a Bloomberg Television interview on Wednesday. “We will get the stablecoin bill and hopefully a market structure bill and it will bring TradFi into this technology.”