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🚨 Institutional Accountability ALERT: Galaxy Digital Pays $200M Over Terra $LUNA Allegations 💸
Breaking News for the Crypto Market! Major institutional player #GalaxyDigital has agreed to a hefty $200 million settlement to resolve allegations tied to its involvement with the original $LUNA token.
The core of the issue revolves around promoting and then quietly exiting significant positions before the devastating 2022 collapse, allegedly without full public disclosure. This lack of transparency has led to a landmark case.
🏛️ Precedent Set, No Wrongdoing Admitted
While Galaxy Digital did not admit or deny wrongdoing, this settlement—reached with the New York Attorney General—sends a powerful message:
Accountability: The case sets a significant precedent for the legal and financial responsibility of large crypto firms promoting assets.
Legacy Haunts: It underscores how the legacy issues from the Crash are still being addressed in institutional finance two years later.
📈 What This Means for & $LUNA Holders
For holders of and $LUNC, this signals that the legal "overhang" from the crash continues to diminish as unresolved liabilities are addressed.
Market Reaction (at the time of initial reports):
LUNC: 0.00004309 (-1.44%$)
LUNA: 0.0935 (-0.84\%)
The long-term health of the market may improve as these major legal hurdles are cleared, allowing for a clearer path forward.
What are your thoughts on this major settlement? Is $200M enough?
#CryptoRegulation #InstitutionalCrypto #SettlementNews #BlockchainLegal