Galaxy Digital, a crypto investment firm founded by Michael Novogratz, has agreed to a $200 million settlement with the New York Attorney General’s office over allegations it promoted the algorithmic cryptocurrency LUNA while quietly selling millions of tokens at a profit. The firm did not admit or deny the allegations.
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Galaxy Digital settled with the New York Attorney General for $200 million to be paid over three years, agreeing to begin payments with $40 million in two weeks and to implement safeguards against conflicts of interest, such as legal reviews of token investments and promotional activities
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Galaxy digital, as part of the agreement with NYAG over it’s dealings in LUNA, neither admitted nor denied the allegations that it sold tokens while promoting them to the public without disclosure
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Galaxy Digital, founded by Michael Novogratz, agreed to a $200 million settlement with the New York Attorney General (NYAG) over allegations it promoted the LUNA Terra cryptocurrency while secretly profiting by selling millions of tokens before its collapse
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