Galaxy Digital (GLXY), the financial services company in the digital assets space led by Mike Novogratz, will pay $200 million to settle claims with the New York Attorney General’s office related to the downfall of the Terra-Luna ecosystem in 2022.
This settlement will see the company pay $200 million to the State of New York concerning its investment, trading activities, and public communications regarding LUNA, which collapsed in May 2022, resulting in a loss of approximately $60 billion in market capitalization, as announced on Friday.
Galaxy revealed the settlement in its most recent earnings report, which also indicated profits of $174 million for Q4 and $365 million for the entire year, factoring in the legal provisions for the settlement with the NYAG.
Additionally, the company has secured a 15-year leasing agreement with CoreWeave, a cloud-computing provider, to supply 133 MW of electricity for artificial intelligence and high-performance computing at its Helios data center in West Texas. Galaxy anticipates generating around $4.5 billion in revenue over the duration of the lease.
The earnings per diluted share for the company stand at $1.02.
On Thursday, GLXY shares experienced a decline of 3.54% in value.