Galaxy Digital CEO Mike Novogratz stated that the cryptocurrency market has entered the “Solana season,” adding that both market momentum and the change in regulations are in Solana’s favor. Speaking to CNBC, Novogratz highlighted the recent $1.65 billion funding round for Forward Industries (FORD) led by Galaxy Digital, Jump Crypto, and Multicoin Capital. This funding will be used to build the world's largest treasury strategy, Solana. He noted that altcoin-focused treasury firms, in particular, are bringing new capital and energy to the market. Novogratz also noted significant changes on the regulatory front, pointing to recent statements by U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins. Atkins argued that rules needed to be modernized to allow capital markets to move on-chain, saying, “Most crypto tokens are not securities.” Novogratz described this approach as a “radical departure from previous policies” and noted that institutional adoption was accelerating. Nasdaq also filed a rule change with the SEC to allow tokenized versions of listed stocks and ETFs to be traded on the same order book as traditional assets. If approved, blockchain-based clearing could be implemented in the third quarter of 2026. Novogratz stated that blockchains are now fast, secure, and ready for enterprise use. Related News: Whales Are Hoarding Bitcoin, Small Investors Are Selling: What Does This Mean? Novogratz specifically described Solana as “perfectly suited” for financial markets. Highlighting its high transaction capacity and speed, the renowned investor said that Solana and Ethereum are in healthy competition in rebuilding the global financial infrastructure. Novogratz drew a different picture for Bitcoin, stating that its price has been trending sideways recently, with capital flowing into altcoin ecosystems. However, he noted that with the Fed's interest rate cuts, he expects a strong resurgence in BTC towards the end of the year. In the long term, he described Bitcoin as “digital gold,” saying, “The only direction it will go over time is up.” *This is not investment advice. Continue Reading: Billionaire Mike Novogratz’s Surprising Announcement: “We’ve Entered the Solana Season”
