According to Axios, Galaxy Digital reached a $200 million settlement with the New York Attorney General regarding the Terra (LUNA) allegations.
Mike Novogratz’s Galaxy Digital company reached a settlement with the New York Attorney General over allegations that it sold millions of tokens at a profit before the collapse of LUNA and promoted LUNA, agreeing to pay 200 million dollars.
The $200 million deal will be paid over three years, with the first $40 million payable within two weeks.
The New York Attorney General accused Galaxy Digital of violating the Martin Act and the Executive Law by promoting LUNA without disclosing its financial interests.
According to claims, Galaxy Digital and its CEO Mike Novogratz played a role in inflating the price of LUNA by selling it. According to the data in the file, Galaxy Digital acquired 18.5 million LUNA tokens at a 30% discount, earning over 100 million dollars from the sales they made. However, they did not disclose these transactions when introducing LUNA.
Additionally, Mike Novogratz, while being one of the most important supporters of LUNA, had promised on social media that he would get a tattoo if the LUNA price exceeded 100 dollars. When this happened, he also shared the LUNA tattoo he got.
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