Galaxy Digital founder: Libra may have a negative impact on the digital asset market

Galaxy Digital founder Michael Novogratz said developments related to the controversial Libra project could have a negative impact on the digital asset market, leading to a sharp decline in Bitcoin and Ethereum prices. Novogratz said that despite the decline in Galaxy Digital's trading volume during the third quarter of 2019, the market share of the business has increased because its transaction volume has slowed down faster than the broader market. Novogratz believes that the decrease in market activity can be attributed to several factors, including geopolitical and regulatory uncertainty caused by Libra, regulatory issues related to international exchanges, and general deleveraging in the summer.