Oh, hello there! 🙋♂️ So, Mike Belshe, the big cheese at BitGo, had some thoughts about Galaxy Digital’s recent $200M settlement with the NYAG. 🗣️💰 He’s usually all about that deregulation life, but now he’s singing a different tune. 🎶
BitGo CEO Weighs In On Galaxy Digital’s Legal Troubles
Guess who Mike Belshe responded to? None other than Anthony Scaramucci! 🤔 He thinks the NYAG made a pretty solid case against Galaxy Digital. 📜 He’s especially peeved about their pump-and-dump antics. Selling tokens right after they vest and telling everyone to HODL while you’re secretly selling? Not cool, man. 🙅♂️
Now, Mike still respects Mike Novogratz and all he’s done for the industry, but he can’t ignore the NYAG’s perspective. He thinks Galaxy Digital’s actions were straight-up unethical. 🙄
Mike Belshe says, “Whether it’s legal overreach or not, it’s just plain wrong. This kind of behavior gives us all a bad name. If we don’t check ourselves, we’ll end up with ‘over-regulation.’ So, people, read the fine print of the settlement!” 📝
Crypto Regulation: A Necessity or a Nightmare?
Word on the street is that Galaxy Digital settled with the NYAG for $200M over the Terra (LUNA) controversy. Mike Belshe is worried that without proper regulations and responsible leaders, the industry will lose credibility. 🙈
He’s advocating for something he calls ‘Principles-based regulation.’ No lying about your holdings, and no telling others to buy while you’re selling. 🤫💰
Remember when industry leaders used to hate on regulators? Well, things have changed since Mark Uyeda took over as Acting Chair of the US SEC. The SEC even created a Crypto Task Force to help set some guidelines for the industry. 🕵️♂️
President Trump’s Crypto Crusade
Mike Belshe’s push for crypto regulation might not be making headlines, but industry insiders like John Deaton are on board. 🤝 The US regulatory agencies are stepping up their game to fulfill President Donald Trump’s campaign promises. 🇺🇸
The FDIC recently gave Federal Banks the green light to dabble in crypto without needing prior approval. This positive shift has sparked a new wave of adoption in the digital currency world. 💡
And let’s not forget Fidelity Investments’ big move – launching a stablecoin on a public blockchain. 🚀
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2025-03-30 00:12