Galaxy Digital to pay $200M over Terra promotion fallout

Michael Novogratz’s crypto investment firm Galaxy Digital has agreed to pay $200 million in a settlement related to its alleged promotion of the now-collapsed cryptocurrency Terra (LUNA)According to New York Attorney General’s office documents filed on March 24, Galaxy Digital acquired 18. 5 million LUNA tokens at a 30% discount while promoting them before selling them without abiding by disclosure rules. The filing states:“Ultimately, Galaxy helped a little-known token increase its market price from $0. 31 in October 2020 to $119 source: https://cointelegraph.com/news/galaxy-digital-terra-settlement-200m?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound