Galaxy Digital Reaches $200M Settlement With NYAG, Reports Strong 2024 Earnings
Galaxy Digital Holdings Ltd. announced on Friday a $200 million settlement agreement with the New York Attorney General (NYAG), resolving matters related to its historical involvement with the Terra-LUNA ecosystem, which collapsed in May 2022.
The settlement encompasses Galaxy’s prior investments, trading activities, and communications regarding LUNA, and marks a significant step toward resolving legacy issues from one of the most impactful events in crypto market history.
In conjunction with the announcement, Galaxy released its financial results for Q4 and full-year 2024. The firm reported net income of $174 million for the fourth quarter and $365 million for the year. Earnings amounted to $1.02 per diluted share, inclusive of legal provisions tied to the settlement.
Additionally, Galaxy revealed a new 15-year strategic agreement with AI infrastructure provider CoreWeave. Under the terms of the deal, Galaxy will deliver 133 megawatts of electricity from its Helios data center in West Texas to support artificial intelligence and high-performance computing workloads. The contract is expected to generate approximately $4.5 billion in revenue over its duration.
Shares of Galaxy Digital (GLXY) closed down 3.54% on Thursday.
