Galaxy Digital Agrees to $200M Settlement with NYAG Over Terra-Luna Collapse

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🚨👀 $200M Settlement: Galaxy Digital’s Luna-Tic Adventure 🤯

What to know:

  • Galaxy Digital will pay $200 million as a settlement with the New York Attorney General’s office, a small price to pay for the Terra-Luna ecosystem’s spectacular implosion 🤯.
  • The firm reported a profit of $174 million and $365 million for Q4 and the full year of 2024, respectively. Who needs a social life when you’re making that kind of dough? 💸
  • Galaxy has also entered a 15-year lease agreement with CoreWeave, because who needs a social life when you can supply 133 MW of electricity for AI and HPC? 🤖

Galaxy Digital, the esteemed digital asset financial services firm led by the inimitable Mike Novogratz, has agreed to pay $200 million to the New York Attorney General’s office as a settlement for its role in the Terra-Luna ecosystem’s catastrophic collapse 🌪️.

It seems that Galaxy’s investment, trading, and public statements regarding LUNA, which collapsed in May 2022, wiping out around $60 billion in value, were not exactly the most… shall we say, “stellar” 🌠.

Galaxy disclosed the settlement as part of its latest earnings statement, which reported a profit of $174 million and $365 million for Q4 and the full year of 2024, respectively. One wonders how they managed to make so much money while simultaneously losing $60 billion 🤑.

The company has also entered a 15-year lease agreement with cloud-computing firm CoreWeave, because who needs a social life when you can supply 133 MW of electricity for AI and HPC? 🤖 The firm expects to generate around $4.5 billion in revenue throughout the lease. One can only assume that this will be used to fund their next ill-fated investment 🤑.

The company’s profit amount to $1.02 per diluted share. GLXY shares closed 3.54% lower on Thursday, because who needs a social life when you can lose 3.54% of your value? 😔

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2025-03-28 15:36