Mike Novogratz-led digital asset financial firm Galaxy Digital (GLXY) has agreed to pay a $200 million settlement with the New York Attorney General’s Office (NYAG) in connection with the 2022 Terra-LUNA ecosystem collapse, the company announced.
In an official statement released last Friday, Galaxy Digital confirmed it had reached an agreement with the NYAG regarding issues tied to its Terra-LUNA ecosystem investments, resulting in a $200 million settlement. The Terra-LUNA collapse in May 2022 led to approximately $60 billion evaporating from the market. Reflecting legal provisions for the settlement, Galaxy Digital reported profits of $174 million for Q4 and $365 million for the full year of 2024.
Additionally, Galaxy disclosed a 15-year lease agreement with cloud computing firm CoreWeave. Under this deal, Galaxy will supply 133 MW of power for artificial intelligence (AI) and high-performance computing at its Helios data center in West Texas, projecting roughly $4.5 billion in revenue over the contract term. The company recorded a diluted earnings per share of $1.02. Meanwhile, Galaxy Digital’s (GLXY) stock price closed Thursday’s trading session down 3.54%.
