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In partnership with Solana, we're releasing the best conversations from Breakpoint 2025. Today, we have Galaxy founder and CEO Mike Novogratz, and Helius CEO Mert Mumtaz in a fireside chat. Recorded on December 11, 2025.
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Um and today we're going to talk about a few things. Solana, Galaxy Markets, and everything else. So Mike, let's start with your big news of the day. Came out a few hours ago. So it seems Galaxy is launching this thing called Sweep, a tokenized liquidity fund. Uh and it's on Solana. So tell me about exactly what Sweep is, how it works, why it's important.
Yeah. So Sweep is a uh is State Street's you know $5 trillion asset manager uh version of BlackRock's Biddle. It's a tokenized money market fund. Uh with some key differences. Uh the biggest difference is instantly when you redeem it gives you PayPal's stablecoin PYUSD. So if you think about what should happen in the world, right, you should have interest-bearing cash, that's in the US right now illegal, right? The the stablecoin bill is uh said not not happening. But if you have a money market fund that redeems into a into a stablecoin, it's roughly the same thing. And so I envision a world where people not necessarily in the United States but broadly around the world are carrying, you know, US Treasury stable uh money market fund sweep and when they want to spend it, they flip it into a stablecoin and spend it. And so instead of carrying cash in your wallet that gives you no interest, you're getting paid uh on everything you own. And that is the trend in crypto.
Yes. And so that's exciting. And it today it is only on Solana and you guys are actually quite uh let's say you're big fans of Solana. You have also tokenized your stock, right? You guys went public.
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Novogratz, M. (2026, January 23). Breakpoint 2025: Mike Novogratz & Mert Mumtaz [Interview transcript]. Real Vision Presents. CEOInterviews.AI. https://ceointerviews.ai/interview/657999/
MLA
Mike Novogratz. "Breakpoint 2025: Mike Novogratz & Mert Mumtaz." Real Vision Presents, 23 Jan. 2026. Transcript, CEOInterviews.AI, https://ceointerviews.ai/interview/657999/.
BibTeX
@misc{novogratz2026_657999,
author = {Mike Novogratz},
title = {Breakpoint 2025: Mike Novogratz \& Mert Mumtaz},
howpublished = {Interview transcript, Real Vision Presents. CEOInterviews.AI},
year = {2026},
month = {jan},
url = {https://ceointerviews.ai/interview/657999/},
note = {Speaker-attributed transcript with timestamps}
}
