Op risk data: Luna crypto chicanery shrinks Galaxy coffers
Also: Down under and dirty – motor finance scandal comes to Oz, and 2024 in review. Data by ORX News
March’s largest loss left crypto investment firm Galaxy Digital Holdings $200 million the lighter when the New York state attorney general fined it for failing to disclose its intent to sell its holdings of Luna tokens – a cryptocurrency it was promoting under the false claim it was being used for retail payments in South Korea. In October 2020, Galaxy purchased 18.5 million Luna tokens at a 30% discount from issuer Terraform Labs and began marketing them to the public, claiming they were
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