⚖️ Galaxy Digital Settles $200M Over LUNA Collapse
Galaxy Digital has agreed to a $200 million settlement with the New York Attorney General related to the collapse of the cryptocurrency LUNA and the stablecoin TerraUSD during the 2022 crypto crisis. The settlement will be paid over three years, with Galaxy Digital neither admitting nor denying the allegations.
🔹 Key Highlights:
✅ The collapse of LUNA contributed to the disappearance of at least $40 billion in wealth.
✅ Galaxy Digital will pay $200 million over three years without admitting wrongdoing.
🔹 Implications:
This settlement underscores the increasing regulatory scrutiny in the cryptocurrency space and highlights the importance of compliance for industry participants.