Mike Novogratz: Democrats Awakening to Crypto Voters' Importance
CryptoNewsTerminal Staff21 May, 2024
Mike Novogratz: Democrats Awakening to Crypto Voters' Importance
Mike Novogratz, CEO of Galaxy Digital, remarked on CNBC's Squawk Box that Democrats are recognizing the impact of crypto voters. He linked Ethereum's recent surge to anticipation of a spot ETF approval by the SEC, driven by a shift in the Biden administration's stance on crypto. Traditionally viewed as more crypto-friendly, Republicans are seeing a shift in Democratic attitudes. "Democrats are realizing 85 million Americans own crypto, more than dog owners," said Novogratz, hinting at White House influence on the SEC's ETF decision. The bipartisan vote to overturn SAB 121, an accounting rule affecting banks' handling of crypto assets, further reflects Democrats' evolving stance. Novogratz sees this as "Democrats waking up to the importance of crypto voters."
