Michael Novogratz, the founder of digital-asset financial services firm Galaxy Digital Holdings Ltd., said rising prices of cryptocurrencies suggest that an “energized” investor base is negating the negative consequences of a US crackdown of the industry. 

“We’re seeing overseas lots of activities and domestic, a government that’s really trying to smash the industry,” Novogratz said at the FII Institute’s PRIORITY summit in Miami Beach on Thursday. “Despite all that, prices are going higher.”