Mike Novogratz, CEO of cryptocurrency financial services firm Galaxy Digital, has warned that tokens relying solely on community loyalty, such as Ripple (XRP) and Cardano (ADA), could be left behind i...

Mike Novogratz, CEO of cryptocurrency financial services firm Galaxy Digital, has warned that tokens relying solely on community loyalty, such as Ripple (XRP) and Cardano (ADA), could be left behind in the next market cycle if they fail to demonstrate real-world utility, Cryptobriefing reported. He explained that the cryptocurrency market is increasingly reorganizing around projects with tangible business foundations. Novogratz noted that with numerous competitors emerging each cycle, the long-term survival prospects for projects dependent only on their community are diminishing. He added that in the future, only projects that can prove a clear revenue structure and actual value will endure.

Galaxy Digital CEO says XRP, ADA must prove utility beyond community to survive

Over the past six months, I've gone from being an observer of Web3 to entering the payment industry. Now, I've chosen to stop and cease working on Web3 payments.

This isn't a retreat after a failure, but rather a judgment and adjustment made after truly getting involved. In these past six months, I've traveled to Yiwu, Shuibei, Putian, and even Mexico, seeing how payments are actually implemented in the most prominent places mentioned in reports. I've also been involved, building a Web3 payment MVP, taking over accounts, developing Web3 payment tools, and trying to run my imagined path from the first step to the last.

But the further I went…

An entrepreneur's account: From beginning to end, why I stopped developing Web3 payments.

Key Highlights:
Chrome extension of the Trust Wallet was breached today, December 26, 2025, which drained $7 million from the users.
Only browser extension had been affected.
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Trust Wallet Hack: $7M Drained, Scammer Exposed by ZachXBT

Cardano price remains in a deep bear market, continuing a sell-off that started in December last year when it peaked at $1.3245. It was trading at $0.3565, down by ~73% from its December peak, and its...