LUNA-TIC FIASCO: Crypto Giant Galaxy Digital Pays $200 MILLION to Settle with New York AG! 🚀💸
Oh dear, oh dear! It seems the crypto wizards at Galaxy Digital have gotten themselves into a spot of trouble! 🤦♂️ They’ve settled with the New York State Attorney General for a whopping $200 million after being accused of propping up the ill-fated LUNA token. 🚀
It all started when Terra founder Do Kwon, a sly fellow if I ever saw one 👀, recruited Galaxy Digital to buy up LUNA tokens and sing its praises to the world. And sing they did! 🎶 But, it seems, they didn’t quite follow the rules, if you know what I mean… 😉
It’s alleged that Galaxy Digital bought 18.5 million LUNA tokens from Terraform Labs in October 2020 at a mere $0.22 per token – a tidy 30% discount, if I do say so myself! 😏 But, of course, they didn’t stop there… no, no! They went on to sell millions of tokens into the market, raking in the profits, without so much as a whisper about it to the public! 🤑
But, as the great Michael Novogratz, Galaxy’s founder and CEO, so eloquently put it, they were just trying to “kickstart” interest in Luna. Ah, yes, because nothing says “kickstarting” like a good old-fashioned pump and dump scheme! 🤑
And, oh dear, it seems Novogratz even got a LUNA tattoo to commemorate the occasion! 🤯 A tattoo, you see, is a most sincere and heartfelt way to show one’s commitment to a particular cryptocurrency… or is it just a fancy way of saying “I’m a bit of a crypto buffoon”? 🤣
But, in the end, it was all for naught, as the Terra ecosystem imploded in May 2022, and Galaxy Digital had almost completely exited its LUNA position by then. Ah, the sweet taste of victory… or is it just the bitter taste of defeat? 🤔
And, as for Do Kwon, well, he’s having a bit of a rough time himself. Arrested in Montenegro in 2023 for attempting to flee the country with a fake passport, he’s now facing a maximum penalty of 130 years in prison! 😱 Ah, the perils of being a crypto fugitive! 🚫
But, in the end, it’s all just a big game, isn’t it? A game of cat and mouse, where the players are the crypto whales, and the pawns are the poor, unsuspecting investors. 🎲 But don’t worry, folks, we’ll all be rich and happy in the end… or will we? 🤑
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2025-03-29 22:01