The Crypto market is 90% through its Deleveraging Cycle, Says Billionaire Mike Novogratz


Novogratz added that the crypto market doesn’t have a central bank acting as a lender of last resort that could step in during a crisis. Meanwhile, the crypto sector was far too leveraged.

“Shame on lots of the players for running what’s just irresponsible not just leverage but asset-liability mismatch, taking consumer deposits in overnight and lending them out,” he said.