Subscribe to Bankless or sign in
Galaxy Digital has reached a $200M settlement with NYAG over Terra-Luna investments, as the firm pivots to AI partnerships for future growth.
What’s the Scoop?
- Undisclosed Sales: Galaxy Digital promoted Luna to the public while simultaneously selling its holdings without disclosing these sales, resulting in substantial profits.
- Settlement Terms: The $200 million penalty will be paid over three years, with the first $40 million due within two weeks.
- Regulatory Impact: This settlement underscores increased regulatory scrutiny in the cryptocurrency sector, particularly concerning transparency and disclosure practices.
0
0
