New York Attorney General Reaches $200 Million Settlement with Galaxy Digital on LUNA-Related Matters

BlockBeats News, March 28th, according to Axios, algorithmic cryptocurrency LUNA, which caused at least $40 billion in wealth evaporation in the Terra collapse two years ago, now, the well-known cryptocurrency company Galaxy Digital has reached a $200 million settlement with the New York Attorney General's Office. The collapse of LUNA and its supported Terra USD stablecoin was one of the most dramatic events in the 2022 cryptocurrency market crash until it was surpassed by the FTX exchange's collapse.

The New York Attorney General's Office has released a document outlining a $200 million settlement agreement reached with Galaxy Digital and its affiliated companies. These companies are among the most well-known cryptocurrency investment firms in the United States. The settlement agreement notes that Galaxy violated the Martin Act and Executive Law by promoting the asset without disclosing its interest in the asset.