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Galaxy Digital Reaches $200M Settlement Agreement With NYAG Over LUNA Investments
Galaxy reported profit of $174 million and $365 million for Q4 and the full year of 2024, respectively
Updated Mar 28, 2025, 1:14 p.m. Published Mar 28, 2025, 12:16 p.m.
What to know:
- Galaxy Digital will pay $200 million as a settlement with the New York Attorney General's office relating to the collapse of the Terra-Luna ecosystem in 2022.
- Galaxy reported profit of $174 million and $365 million for Q4 and the full year of 2024 respectively.
- The firm has also has entered a 15-year lease agreement with cloud-computing firm CoreWeave, through which it supply 133 MW of electricity for artificial intelligence and high-performance computing.
Galaxy Digital (GLXY), the Mike Novogratz-led digital asset financial services firm, will pay $200 million as a settlement with the New York Attorney General's (NYAG) office relating to the collapse of the Terra-Luna ecosystem in 2022.
The firm will pay $200 million to the State of New York for matters relating to its investment, trading and public statements of LUNA, which collapsed in May 2022, wiping out around $60 billion in value, Galaxy announced on Friday.
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Galaxy disclosed the settlement as part of its latest earnings statement, which reported profit of $174 million and $365 million for Q4 and the full year of 2024 respectively, when the accrued legal provision for the settlement with NYAG is included.
The company has also has entered a 15-year lease agreement with cloud-computing firm CoreWeave, through which it supply 133 MW of electricity for artificial intelligence and high-performance computing at its Helios data center in West Texas. Galaxy expects to generate around $4.5 billion in revenue throughout the lease.
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The company's profit amount to $1.02 per diluted share.
GLXY shares closed 3.54% lower on Thursday.
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