Galaxy Digital CEO: ”With Trump in power, cryptocurrency market participation will surge”

Galaxy Digital CEO Mike Novogratz said he expects a rapid increase in people looking to join the U.S. cryptocurrency industry under the Trump administration.
According to reports, Galaxy Digital CEO Novogratz, a cryptocurrency-specialized financial services company, said in a third-quarter investor call on the 7th (local time) that
"If Donald Trump wins, a tsunami could hit the cryptocurrency market," he said. He continued, "The SEC's 'Financial Corporation Immigration Law,' which prevented cryptocurrency companies from opening bank accounts, is now in the spotlight."
"The Cryptocurrency Custodian Accounting Standard (SAB 121) is expected to be scrapped soon," and "the traditional financial industry is being forced to allow crypto assets to be held on their balance sheets."
"If the Ramp government allows it, institutional investors will rush to participate in the cryptocurrency market," he predicted. "Trump's victory in the presidential election deserves to be called the most important day for cryptocurrencies.
"The industry will be able to hear one good news story every week for the next two years," he said.