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Galaxy Digital CEO Came Under Fire When He Asked CNBC To Remove Litecoin From Their Crypto Ticker Board

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Galaxy Digital founder Mike Novogratz in an interview with CNBC advised them to remove Litecoin from the crypto price board and came under criticism from the LTC community.

 


Speaking with CNBC host Joe Kernen, the billionaire shared his optimistic expectations regarding cryptocurrency adoption. Galaxy Digital CEO was enthusiastic about the medium-term outlook for the Web 3.0 industry amid an influx of institutional capital.

During the conversation, Novogratz drew the attention of CNBC to the crypto prices that were being broadcast during the conversation. He was surprised by the presence of Litecoin (LTC) in that list, he said that the presence of LTC in the top five of your price list reminds him of 2017. He gave his opinion, that in 2021, Litecoin is not a technology that people are interested in.

He named Terra (LUNA) and Solana (SOL) strong candidates for LTC replacement on the CNBC price list. According to Galaxy Digital CEO, these are next-generation smart contract platforms that are generating obvious interest from developers and crypto enthusiasts.

Novogratz said:

“It is strange to me when Litecoin shows on someone’s list, It is not something people are engaged in… It can be Solana, Terra (Luna), those are the crypto that is getting the interest of people because they are building. We look at whose building on things, so I would like Solana and Luna up there.”

Litecoin surely cannot ignore such behavior of a well know personality giving his remarks on a TV channel seen worldwide.

“So mike Novogratz goes on CNBC and has enough “power” to get them to pull Litecoin off the list after being 10 years in, no downtime, having major developments like optional privacy, NFTs, Smart contracts on the way for a coin that hasn’t stood any tests? Strange”

 

Novogratz was reminded that the Solana suffered two major outages in 2021. On December 9, the Solana network faced a second DDoS attack, but there were no comments from the Solana Team or developers.

Some critics said that the billionaire is playing his game trying to crash the price of the LTC saying he may be on the other side of that trade because he knows LTC has existed flawlessly for over 10 years and in 4 days the most significant update in its entire history is coming.

The Litecoin community also compared Novogratz to the famous Bitcoin critic Peter Schiff and called for a boycott of the head of Galaxy Digital.

Earlier Novogratz said that most of the altcoins will leave the market in the near future.

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Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Ammara authored more than 1,000 stories for TheCryptoBasic, CryptoComes and other fintech media outlets. She is particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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