30% Of Crypto Market Makers Got Wiped, Mike Novogratz Says

Galaxy Digital CEO Mike Novogratz says the October 10th crash in crypto was far more than a routine shakeout, claiming that roughly a third of market makers in parts of the ecosystem were effectively wiped out. “We had a flash crash and it did a lot of damage to the fabric of the market,” Novogratz told Anthony Scaramucci on the first-ever episode of “All Things Markets,” recorded November 26. “Even on Hyperliquid, the market makers, you know, 30 percent of them went out of business. Got zeroed source: https://www.newsbtc.com/news/30-of-crypto-market-makers-got-wiped-mike-novogratz/