Galaxy Digital Reaches $200 Million Settlement Agreement with New York State Attorney General Over LUNA Investment
Galaxy reported profits of $174 million and $365 million for the fourth quarter and full year 2024, respectively.
Author: Jamie Crowley | Edited by: Stephen Alpher Updated: 28 Mar 2025 1:14 GMT Published: 28 Mar 2025 12:16 GMT
Key points:
- Galaxy Digital will pay $200 million in damages to the New York Attorney General over the collapse of the Terra-Luna ecosystem in 2022.
- Galaxy reported profits of $174 million and $365 million for the fourth quarter and full year 2024, respectively.
- The company also signed a 15-year lease with cloud computing specialist CoreWeave, under which it will supply 133 MW of power for its artificial intelligence and high-performance computing needs.
Galaxy Digital (GLXY), the digital asset finance company led by Mike Novogratz, will pay $200 million in damages to the New York State Attorney General (NYAG) over the collapse of the Terra-Luna ecosystem in 2022.
The company will pay $200 million to New York state for questions about the investment, trading and public reporting of LUNA, which went bankrupt in May 2022 after losing about $60 billion, Galaxy reported Friday.
Galaxy disclosed details of the settlement in its latest earnings report, which showed profits of $174 million and $365 million for the fourth quarter and full year 2024, respectively, including accumulated legal reserves related to the settlement with the New York attorney general.
The company also signed a 15-year lease with cloud company CoreWeave to supply 133 megawatts of power to power the artificial intelligence and high-performance computing needs of its Helios data center in West Texas. Galaxy expects to earn about $4.5 billion in revenue over the life of the lease.
The company's earnings were $1.02 per diluted share.
GLXY shares closed down 3.54% on Thursday.
