Mike Novogratz's Vision for Rebuilding Finance with Crypto
Odd Lots
Bloomberg
4.5 • 2K Ratings
🗓️ 8 February 2021
⏱️ 57 minutes
🧾️ Download transcript
Summary
Bitcoin, and crypto more broadly, have been on a huge tear lately. Then, with the chaos surrounding GameStop, there's been more discussion about whether financial markets could be rebuilt in a fairer way, perhaps involving crypto or decentralized finance. Probably one of the best positioned to take advantage of such a shift is Mike Novogratz, the CEO of Galaxy Digital, which might best be described as a crypto investment bank. Prior to his current endeavors, Novogratz was a global macro fund manager at Fortress Investment Group, and prior to that he was at Goldman Sachs, meaning he's seen the traditional finance world, and this new world. He talks to us about why he's so bullish on crypto, and how it can be used to create a fairer and better financial system.
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| 0:00.0 | Join us in New York on November 2 for the Bloomberg Technology |
| 0:03.2 | Transformation and the Strategic Sea Suite event. |
| 0:06.2 | Join CFOs and senior leaders in corporate finance and operations |
| 0:09.9 | for a special evening briefing to discuss the sea suite's |
| 0:12.6 | increasingly strategic role in their organization's technology transformation. |
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| 0:23.3 | This program is proudly sponsored by IBM. |
| 0:25.9 | Register at bloomberglive.com slash transformation slash radio. |
| 0:40.6 | Hello and welcome to another episode of the AdLots podcast. |
| 0:44.4 | I'm Joe Wyzenthal and I'm Tracy all the way. |
| 0:47.8 | So Tracy that that whole game something was pretty crazy, huh? |
| 0:51.1 | I noticed you are putting that in the past tense. |
| 0:53.3 | So you think it's over already. |
| 0:55.4 | We're still in the midst of our AdLots GameStop series. |
| 0:59.3 | So please don't say it's over. |
| 1:02.3 | It's not over. |
| 1:03.3 | I mean, I do think the squeeze and just like this incredible like moment |
| 1:08.3 | where the squeeze got so intense that it was causing various hedge funds |
| 1:13.0 | to not only put up massive losses of their short positions, |
| 1:17.5 | but also have to liquidate some of their long positions to reduce overall. |
| 1:22.2 | I mean, it feels like we're sort of in you know, |
... |
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