Galaxy Digital founder and CEO Mike Novogratz, who believes Ethereum has failed to keep up with other cryptocurrencies such as Bitcoin and Solana. Novogratz said in an interview: "Ethereum's market sentiment is extremely pessimistic. I think , the biggest reason is Gensler's vague definition of ETH. He sued Consensys. Is ETH a securities? So Ethereum is under some regulatory pressure." Discussing Ethereum’s investment narrative and its differences from Bitcoin, Novogratz said Bitcoin has attracted growing media outlets since President Donald Trump spoke at the 2024 Bitcoin Conference last summer attention. “Most of Ethereum’s market value is a store of value at the moment, but what keeps people paying attention to it is the story of web3, and the reality of all crypto ecosystems is that the story brings passion, and passion creates value,” he said.