The tweet links to a longer letter in which Novogratz reminded readers that it has been a “brutal macro backdrop” for all risk assets in 2022, with any number of growth stocks down 50%-70%, core crypto assets like bitcoin (BTC) and ether (ETH) off nearly 60%, and altcoins lower by an average of 80% from all-time price highs. The central banks, he said, are turning off the monetary spigots that contributed to a massive liquidity bubble.
Source: https://www.coindesk.com/business/2022/05/18/mike-novogratz-ends-twitter-silence-gives-take-on-ustluna-crash/?utm_medium=referral&utm_source=rss&utm_campaign=headlines