Galaxy Digital CEO Mike Novogratz stated that the cryptocurrency market has entered the 'Solana season' due to new capital and regulatory changes.
Funding for Solana by Forward Industries
Novogratz commented on the recent $1.65 billion funding round for Forward Industries (FORD), led by Galaxy Digital, Jump Crypto, and Multicoin Capital. This funding will focus on building the largest treasury strategy on Solana.
Regulatory Changes and Their Impact
According to Novogratz, significant changes are occurring on the regulatory front. He referenced recent statements by SEC Chairman Paul Atkins, who argued for the modernization of rules to allow capital to move on-chain, noting this approach as a 'radical departure from previous policies.'
Prospects for Bitcoin and Solana
Novogratz highlighted that Solana is 'perfectly suited' for financial markets due to its high transaction capacity and speed. He also discussed Bitcoin's current sideways price movement but expects a resurgence towards the end of the year.
Discussions around Solana and Bitcoin emphasize important shifts in the cryptocurrency market, including new financial strategies and regulatory initiatives.
