The crypto investment giant Galaxy Digital plans to list on the Nasdaq next month.
The U.S. Securities and Exchange Commission (SEC) has green lit the firm’s registration statement relating to its reorganization and domestication from the Cayman Islands to Delaware, per a new press release.
[adinserter block="1"]Galaxy has scheduled a shareholder meeting for May 9th to approve the reorganization. Pending approval, Class A common stock of Galaxy Digital Inc., a new Delaware holding company, will list on the Nasdaq under the ticker symbol GLXY.
The reorganization materialized shortly after the firm closed out legal troubles with American regulators: Last month, Galaxy settled with the New York State Attorney General for $200 million after facing allegations that it illegally propped up the ill-fated LUNA token.
New York Attorney General Letitia James alleges Terra founder Do Kwon recruited Galaxy Digital to purchase LUNA tokens and advocate for his project in the West.
“As Michael Novogratz, Galaxy’s founder and chief executive officer, later said, Galaxy helped ‘kickstart’ interest in Luna through its marketing efforts. Galaxy began posting about Luna and Terraform on social media in November 2020, and Luna’s price and trading volume rose. On March 26th, 2021, when Luna was trading around $18 per token, Novogratz posted on social media that he would get a Luna tattoo if Luna’s price reached $100. Luna hit $100.84 on December 24th, 2021, and on January 4th, 2022, Novogratz publicly unveiled his Luna tattoo on social media.
But while Novogratz posted pictures of his tattoo and expressed his Luna bullishness to the public, Galaxy sold millions of tokens into the market at many multiples of its initial cost without disclosing that it was selling.”
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