The New York Attorney General has reached a $200 million settlement agreement with Galaxy Digital over issues related to LUNA

The algorithmic cryptocurrency LUNA caused at least $40 billion in wealth to evaporate in the Terra crash two years ago. Now, Galaxy Digital, a well-known cryptocurrency company, will pay $200 million as part of a settlement agreement with the New York Attorney General's Office. The collapse of LUNA and its supported stablecoin Terra USD was one of the most dramatic events in the 2022 cryptocurrency market crash until it was surpassed by the closure of FTX exchange. The New York Attorney General's Office released a document outlining the $200 million settlement agreement reached with Galaxy Digital and its related companies, which are among America's most well-known cryptocurrency investment firms. The settlement agreement indicates that Galaxy violated Martin Act and Administrative Law by promoting this asset without disclosing its interest in it.