The FTX Debacle Has Created a “Deficit of Trust” in Crypto Market, Says Mike Novogratz


But while Novogratz called the situation a “crisis of confidence” and warned that investors weren’t “out of the woods” yet, he believes crypto will remain in the mainstream. 

“There are 150 million people that have already decided to store some of their net worth in bitcoin, in this decentralized community that is verified in cryptography. And so in no world is bitcoin is going away, or quite frankly, the blockchain and Ethereum and everything else,” he said.