Galaxy Digital reaches $ 200 million comparison with New York General Prosecutor's office-Focus on misleading with Luna token in the focus

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Galaxy Digital erzielt Vergleich mit der New Yorker Generalstaatsanwaltschaft über 200 Millionen Dollar Galaxy Digital, die von Michael Novogratz gegründete Investmentfirma für digitale Vermögenswerte, hat sich mit der New Yorker Generalstaatsanwaltschaft (NYAG) auf einen Vergleich in Höhe von 200 Millionen Dollar geeinigt. Diese Einigung bezieht sich auf angebliches Fehlverhalten im Zusammenhang mit der Bewerbung des LUNA-Tokens vor dessen katastrophalem Zusammenbruch im Jahr 2022. LUNA, eine Kryptowährung des insolventen Unternehmens Terraform Labs, erlebte im Mai 2022 einen dramatischen Rückgang. Dieser Vorfall führte zu einem erheblichen Bärenmarkt, der innerhalb weniger Tage Milliarden von Dollar vom Markt abziehen konnte. In der Folge brachen …
Galaxy Digital achieves comparison with the New York General Prosecutor's office over $ 200 million Galaxy Digital, the investment company for digital assets founded by Michael Novogratz, has agreed with the New York General Prosecutor's Office (NYAG) to a comparison of $ 200 million. This agreement refers to alleged misconduct in connection with the application of the Luna token before his catastrophic collapse in 2022. Luna, a cryptocurrency of the insolvent company Terraform Labs, experienced a dramatic decline in May 2022. This incident led to a significant bear market that was able to deduct billions of dollars from the market within a few days. As a result ... (Symbolbild/KNAT)

Galaxy Digital achieved comparison with the New York general prosecutor's office over $ 200 million

Galaxy Digital, the investment company for digital assets founded by Michael Novogratz, has agreed with the New York General Prosecutor's Office (NYAG) to a comparison of $ 200 million. This agreement refers to alleged misconduct in connection with the application of the Luna token before its catastrophic collapse in 2022.

luna, a cryptocurrency of the insolvent company Terraform Labs, experienced a dramatic decline in May 2022. This incident led to a significant bear market that was able to deduct billions of dollars from the market within a few days. As a result, several companies collapsed, and the founder of Terraform Labs, do Kwon, fled before he was arrested and finally delivered to the United States.

Legal problems of Galaxy Digital

Galaxy Digital is under pressure due to its close relationship with Luna and the associated advertising campaigns. According to a file, the company operated extensive advertising for Luna, but without disclosing its considerable stocks and the subsequent sales activities. Due to the marketing measures of Galaxy Digital, the value of the old coin increased significantly.

Michael Novogratz himself recently recommended the purchase of Luna on social media when a user asked for recommended tokens. On March 26, 2021, he posted that he would get a luna tattoo if the price of the token would reach $ 100. In fact, Luna crossed this prize on December 24, 2021 and Novogratz unveiled his tattoo on January 4, 2022.

When Luna finally fell to zero, Galaxy had digitally liquidated almost all of his positions, which added great financial damage. NYAG said that Galaxy digitally benefited significantly by applying a little -known token, but did not provide the necessary transparency. The company is said to have made over $ 100 million profit from the sale of Luna token by selling it to the highest level, while it asked small investors to "maintain faith".

Details of the unification

In the context of a large number of regulatory measures, NYAG agreed with Galaxy Digital to pay a fine of $ 200 million, which is to be performed over a period of three years. The first payment of $ 40 million is due within two weeks.

This agreement takes place in the middle of a phase in which the US stock exchange supervisory authority SEC has completed several studies in connection with cryptocurrencies. The SEC has also withdrawn some legal proceedings against market-leading companies such as Coinbase, Kraken and Ripple and finally completed an investigation against the crypto exchange crypto.com.

The SEC also agreed with a subsidiary of Jump Crypto in the Luna case on a comparison of $ 123 million, while an agreement with Terraform Labs of $ 4.7 billion was achieved. These developments show the increasing focus of the regulatory authorities on the crypto industry and the need for transparency and responsibility in this dynamic market.