Galaxy’s Daring Nasdaq Gambit Sparks SEC Frenzy! 😱

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Galaxy Digital, the grand panjandrum of crypto investments, has announced its plan to sashay onto the Nasdaq floor next month—likely wearing a winning grin and a pair of dancing shoes. 🤩

In a delightful twist, word has it the U.S. Securities and Exchange Commission (SEC) gave a jaunty nod to the firm’s proposal to abandon its tropical abode in the Cayman Islands and relocate to the ever-charming Delaware. So much for an island paradise! 🤔

They’ve got a grand shareholder meeting scheduled for May 9th, where, presumably, everyone will assemble with the gusto of a thousand chatty parakeets to approve this reorganization. Should the stars align favorably, the newly minted Delaware entity—Galaxy Digital Inc.—will parade under the Nasdaq ticker symbol GLXY. 🎉

Legend has it, this swift shuffle follows a tidy resolution of the firm’s legal entanglements: they coughed up a cool $200 million to the New York State Attorney General over allegations concerning their enthusiasm for that luckless LUNA token. Talk about pricey hobbies! 😇

Meanwhile, New York Attorney General Letitia James points a well-manicured finger at Terra founder Do Kwon, claiming he enlisted Galaxy Digital’s assistance to scoop up LUNA tokens and serenade the Western markets with melodious marketing. One imagines there was much buying, tweeting, and perhaps a bit of foxtrotting. 🕺

As the tale continues, Galaxy allegedly snapped up 18.5 million LUNA at a special bargain rate—before galloping off to sell oodles of them later like a confetti cannon at a surprise party. All this while its fearless leader, Michael Novogratz, promised a Luna tattoo if the token soared to triple digits (which it did!). One might say the word “understatement” was thoroughly disregarded when it came to revealing how many LUNA tokens they were releasing into the wild. 🤑

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2025-04-09 20:02