Galaxy Digital to Pay $200 Million in Terra-Luna Settlement
Date: 2025-03-31 Author: Henry Casey Categories: BUSINESS
A representative of the New York Attorney General's office noted that this case should serve as a reminder for Galaxy Digital of the importance of taking responsibility for its actions. In turn, for the entire crypto industry, this is a signal of the need to maintain high standards and adhere to regulatory requirements.
According to the terms of the settlement, Galaxy Digital is obliged to pay $200 million over three years. The first payment of $40 million must be made within two weeks of signing the agreement, which took place on March 24.
In addition to financial payments, Galaxy Digital agreed to implement a set of strict internal measures to prevent conflicts of interest. These measures include conducting a legal analysis of token transactions and assessing the company's public statements. At the same time, Galaxy Digital neither admitted nor denied the charges, preferring a voluntary settlement of the dispute without litigation.
In parallel, the Terraform Labs liquidation commission is preparing to launch a special Internet portal through which creditors affected by the collapse of the TerraUSD token will be able to apply for compensation. Access to the portal is expected to open on March 31, and the consulting company Kroll will take on the acceptance of applications and their subsequent processing.
