Cryptocurrency Financial Firm Boom May Have Peaked, Suggests Novogratz

On August 6, during the Q2 earnings call, Michael Novogratz, CEO of Galaxy Digital, suggested that the boom in establishing cryptocurrency treasury companies may have peaked. 'The establishment of new treasury companies is likely past its peak,' he stated, indicating a shift in focus towards the competitive growth of existing companies. Cryptocurrency treasury companies have experienced rapid growth against the backdrop of improved regulatory environments in the US. These companies raise funds on public markets and adopt strategies to allocate part or all of their reserves to cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH).