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- #Gate 2025 Semi-Year Community Gala# voting is in progress! 🔥
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Galaxy Digital has reached a $200 million settlement with New York State regarding the LUNA promotion case.
According to Gate.io News bot, Axios reported that Galaxy Digital reached a $200 million settlement with the New York State Attorney General's Office over the LUNA promotion case.
The investigation shows that Galaxy Digital did not disclose its holdings and selling activities to the public during the promotion of LUNA, while earning huge profits from it. This settlement involves violations of the Martin Act and the Administrative Code.
According to the settlement terms, Galaxy Digital neither admits nor denies the related allegations. The compensation amount will be paid over three years, with the first installment of $40 million to be paid within two weeks.
Source: Axios