Mike Novogratz Says Crypto Is Moving Beyond Speculation as Tokenized RWAs Gain Traction

On 12 February 2026, Galaxy Digital CEO Mike Novogratz told an audience at the CNBC Digital Finance Forum in New York that the phase of extreme, retail-led crypto speculation is largely fading. He argued that institutional capital, tighter leverage, and the rise of tokenized real-world assets are pushing digital asset markets toward more stable, utility-focused growth.