#TERA

Contrasting Views on Galaxy Digital Settlement

Two prominent figures in the crypto space have expressed differing opinions on the recent settlement between Galaxy Digital and the New York Attorney General. Galaxy Digital, led by Michael Novogratz, agreed to pay a $200 million fine to New York for its involvement in promoting the now-defunct Terra (LUNA) token. The NYAG accused Galaxy Digital of purchasing LUNA at a discount and driving up its value, leading to a market crash in May 2022. Anthony Scaramucci criticized the NYAG's actions, calling it 'lawfare,' while Mike Belshe of BitGo supported the NYAG's case against Galaxy Digital. Despite a decline in the crypto market's value, Bitcoin remains dominant. Belshe emphasized the importance of ethical behavior and principle-based regulation in the crypto industry.

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