Galaxy Digital Finalizes $200M NYAG Settlement Over LUNA, Reports $365M Profit for 2024

Crypto investment firm Galaxy Digital has reached a $200 million settlement with the New York Attorney General over its role in the Terra-LUNA debacle, which wiped out $60 billion in value during its 2022 collapse.

The company revealed the resolution in its latest earnings report, where it also posted strong financial results: $174 million in fourth-quarter profit and $365 million for the full year 2024. Earnings per diluted share stood at $1.02.

The settlement accounts for Galaxy’s investment exposure, trading activities, and public comments on LUNA prior to its failure.

In a strategic move beyond crypto, Galaxy also announced a 15-year infrastructure deal with AI cloud provider CoreWeave. The agreement will allocate 133 MW of electricity from Galaxy’s Helios data center in West Texas for AI and HPC operations, expected to bring in $4.5 billion in revenue over the life of the lease.

Despite the earnings boost, Galaxy’s stock (GLXY) closed down 3.54% on Thursday.