NYAG reaches $200m settlement with Novogratz’s crypto bank Galaxy Digital over LUNA sales
Name
NYAG reaches $200m settlement with Novogratz’s crypto bank Galaxy Digital over LUNA sales
Publish date
Mar 28, 2025 - 12:00am
Referenced by
Galaxy Digital settles with NYAG for $200M over LUNA promotion
Crypto news
News story
Under the settlement, Galaxy will pay $200 million over three years, starting with $40 million in two weeks. The firm also agreed to implement policies to prevent conflicts of interest, including legal analysis of token investments and promotional statements. As of press time, Galaxy Digital made no public statements on the matter.
Crypto news
Quote
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.
Crypto news
Quote