US billionaire Mike Novogratz’s cryptocurrency group Galaxy Digital will pay $200mn to settle an investigation by New York regulators into alleged manipulation of the token whose failure kicked off the 2022 crypto market collapse.
In a filing, the New York attorney-general said that, from 2020, Galaxy had bought and actively promoted luna, a token linked to the stablecoin TerraUSD, while also selling and failing to disclose its plans to sell.
The penalty for Galaxy, one of the world’s largest crypto financial services groups, comes as the US Securities and Exchange Commission scales back investigations into many of the…
