Galaxy Digital Settles $200M LUNA Case

Galaxy Digital Settles for $200 Million Over Terra LUNA Misrepresentations

• The New York Attorney General and Galaxy Digital reached a settlement requiring Galaxy to pay $200 million.
• The settlement addresses alleged violations of the Martin Act and New York Executive Law.
• Galaxy initially purchased over 18.5 million LUNA tokens at $0.22 each in October 2020.
• CEO Michael Novogratz promoted LUNA publicly while Galaxy sold millions of tokens without disclosure.
• Galaxy netted more than $100 million from LUNA sales between January 5-13, 2022.

Galaxy Digital agreed to a $200 million settlement with the New York Attorney General over its handling of Terra LUNA, addressing alleged legal violations without admitting or denying the findings. The firm must also establish policies for public cryptocurrency statements.