On Ep. 76 of Infinite Jungle, Christine speaks with CEO of Galaxy, Mike Novogratz, about the underperformance of ETH. ETH has been persistently lagging behind major coins like BTC and SOL for all of 2024 and so far into 2025. Mike speaks to this trend that has been confounding crypto enthusiasts and investors and explains why he is still optimistic about the revolutionary potential of Ethereum. Mike reiterates his convictions about the decentralized web, stablecoins, and how Ethereum remains the frontrunner to become “the base layer of trust for Web3.”

Guests:

Name: Mike Novogratz

Title: CEO of Galaxy

X: https://x.com/novogratz

Show note links:

• Galaxy company website (https://www.galaxy.com/)

Timestamps:

(00:00:41) The biggest reason for ETH’s underperformance

(00:03:30) What’s the investment narrative of ETH?

(00:05:24) What does Ethereum need to succeed?

(00:08:48) The importance of stablecoin adoption

(00:20:50) The strengths of Ethereum’s leadership

(00:25:45) Community as an input to valuation

This episode was recorded on Thursday, January 30, 2025.

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