Novogratz’s Galaxy to Pay $200 Million in NY Luna Settlement

Michael Novogratz’s Galaxy Digital Holdings will pay $200 million in penalties over the investment firm’s role in promoting the failed Luna cryptocurrency, as part of a settlement with the New York Attorney General.

Galaxy reached an agreement with the state authority on Thursday to resolve civil claims relating to certain investments, trading and public statements it had made regarding Luna between late 2020 and 2022, the company said in an earnings statement Friday.

The settlement includes an undiscounted monetary penalty of $200 million, payable in instalments until 2028. Galaxy noted a legal provision of $166 million to cover the fine ...