Galaxy Digital Settles Luna Investment and Sale Controversy for 293.3 Billion Won
Summary
- It was reported that Galaxy Digital settled with the New York State Attorney General for $200 million due to Luna investment and sales.
- The prosecution claimed that Galaxy Digital actively promoted Luna but did not disclose the sale of its holdings.
- Galaxy Digital is set to pay the $200 million settlement in installments over three years without admitting or denying the allegations.
The New York State Attorney General has settled with Galaxy Digital for $200 million (approximately 293.3 billion won) regarding the 'Terra·Luna' incident, concluding the case.
On the 28th, local media Axios reported, "The New York State Attorney General announced a $200 million settlement with cryptocurrency investment firm Galaxy Digital." The prosecution claimed that Galaxy Digital actively promoted Luna (LUNA) to the public while failing to disclose that it sold millions of its holdings in the market.
Previously, Michael Novogratz, CEO of Galaxy Digital, declared, "I will get a tattoo if LUNA exceeds $100," and indeed posted a tattoo of a wolf howling at the moon on social media as part of the promotion.
The media added, "Galaxy agreed to the settlement without admitting or denying the allegations, and the $200 million settlement will be paid in installments over three years."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
