Mike Novogratz spent the 2024 election trying to keep crypto from becoming a Republican-only industry. Two years later, the billionaire founder of Galaxy Digital, a crypto trading and investment company, has a much colder message for the Democrat he backed.
"Kamala Harris shouldn't run for President," Novogratz wrote on X on Sunday, July 26. "She was back of the pack in 2020 and was wiped out in 2024."
Novogratz, who was also a longtime Joe Biden supporter, now says that Democrats need a "strong center left candidate to not only win but to heal the country." Surprisingly, crypto, the industry at the center of his business and political advocacy, didn't make the list.
From pro-crypto hope to a hard no
In an August 2024 interview, Novogratz told Blockworks that he was "fairly certain, and hopeful" that Harris would become "a pro-innovation, pro-crypto president." He also said he was "working really hard on the Democratic side" because he didn't want crypto to become a "one-party industry."
As of press time, Harris hasn't announced plans to run for the White House. Still, she told civil rights leader Al Sharpton in April that she's "thinking about it" while discussing another White House run.
- Andrew Yang, a former Democratic presidential candidate, also claimed on Sunday, July 26, that he had heard Harris was preparing to run. Her team hasn't confirmed that.
Polymarket currently gives Harris a 9% chance of winning the Democratic nomination and a 5% chance of becoming president.
A May voter poll was considerably friendlier, with 26% ranking her first and Harris narrowly beating California Gov. Gavin Newsom 52% to 48% in a simulated ranked-choice contest, according to data from FairVote.