Michael Novogratz, the founder of crypto financial services firm Galaxy Digital Holdings Ltd., said crypto markets “feel strong” this year, due to sellers’ exhaustion and the easing of restrictions in China, with Hong Kong warming up to the digital-asset sector.  

“What’s driving crypto broadly this year is two things - all the selling that needed to get done was done,” Novogratz said during Galaxy’s earnings conference call on Tuesday. The other factor is increasing activities from Asia, he said. “China took the regulatory boot off the necks of their tech companies and that includes crypto.”