Galaxy Digital Inc. (NASDAQ: GLXY) CEO Mike Novogratz expressed concern Wednesday about the current state of cryptocurrency treasury companies, emphasizing the importance of creating shareholder value beyond just owning the underlying asset.

Novogratz Questions Current Landscape

Speaking to SkyBridge Capital founder Anthony Scaramucci, Novogratz said that these companies will continue to trade below their net asset value, between 80% and 95%, unless the management “turns them into companies.”

“Remember the guys running those, the CEOs of those DATs, and the boards, their job is shareholder value. So, what I’m feeling pretty comfortable about is you’re not going to get…

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