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Mike Novogratz Warns Democrats of Losing Voters Over Stablecoin Regulation Stalemate

The US is facing uncertainty regarding the regulation of stablecoins, with a recent bill causing a stalemate between Democrats and Republicans. Billionaire investor and CEO of Galaxy Digital, Mike Novogratz, believes that the Democrats are harming themselves by blocking the stablecoin bill and treating crypto regulation as a partisan issue.

Novogratz suggests that the Democrats could lose voters, particularly millennials and Gen Zs, who make up the majority of investors in the crypto industry. Despite differences in opinion among regulators, politicians, and industry stakeholders, there is a general consensus that the crypto space needs regulation to prevent future implosions like FTX.

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