Galaxy Digital CEO Highlights “Solana Season”

Galaxy Digital CEO Mike Novogratz stated that the cryptocurrency market has entered the “Solana season,” emphasizing the favorable market momentum and regulatory changes for Solana.

In an interview with CNBC, Novogratz discussed a recent $1.65 billion funding round for Forward Industries (FORD), which was led by Galaxy Digital, Jump Crypto, and Multicoin Capital. This funding aims to establish the world’s largest treasury strategy on Solana, attracting new capital and energy, particularly from altcoin-focused treasury firms.

He also pointed out significant regulatory changes, citing U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins, who advocated for the modernization of rules to facilitate on-chain capital markets, asserting that “Most crypto tokens are not securities.” Novogratz viewed this as a “radical departure from previous policies,” indicating that institutional adoption is accelerating.

Furthermore, Nasdaq has filed a rule change with the SEC to enable the trading of tokenized versions of listed stocks and ETFs alongside traditional assets. If approved, blockchain-based clearing could be operational by the third quarter of 2026. Novogratz believes that current blockchains are fast, secure, and ready for enterprise utilization.

He described Solana as “perfectly suited” for financial markets due to its high transaction capacity and speed, positioning it in healthy competition with Ethereum to rebuild global financial infrastructure.

In contrast, Novogratz noted that Bitcoin’s price has been trending sideways recently, with capital shifting towards altcoin ecosystems. However, he anticipates a strong resurgence in BTC towards year-end, driven by the Fed’s interest rate cuts. He referred to Bitcoin as “digital gold,” asserting that its long-term trajectory is upward.

This is not investment advice.