Renowned billionaire investor and founder of Galaxy Digital, Mike Novogratz, predicts further legal battles by the US Securities and Exchange Commission (SEC) against crypto businesses, with protracted legal processes. Novogratz commented that the ongoing cases against Coinbase and Binance probably won't be litigated for a few months, making it difficult to determine what to do.

The SEC has intensified its regulatory actions against the crypto industry, targeting prominent players through successive lawsuits. Novogratz emphasized that institutional players are currently hesitant to engage in the crypto space, particularly in the United States.