Galaxy Digital Cleared To Join Nasdaq

Galaxy Digital, the crypto investment firm founded by billionaire Mike Novogratz, has secured approval from the U.S. Securities and Exchange Commission (SEC) to list its shares on Nasdaq—bringing one of the industry's highest-profile firms a step closer to full participation in U.S. capital markets.

Crypto investment firm Galaxy Digital, founded by billionaire Mike Novogratz, has secured approval from the U.S. Securities and Exchange Commission (SEC) to list its shares on Nasdaq.

The regulator’s green light brings one of the industry’s highest-profile firms a step closer to full participation in U.S. capital markets.

Its listing on the Toronto Stock Exchange (TSX) and the move to Delaware are still pending shareholder and TSX approval, which is expected at the special meeting on May 9.

“Big milestone for Galaxy Digital. We're one step closer to listing on Nasdaq,” Novogratz said on X, formerly Twitter.

“The SEC has declared effective our registration statement and TSX has approved the plan of arrangement in respect of our proposed reorganization and listing on Nasdaq.”

The firm's shares will trade on Nasdaq under the ticker symbol GLXY.

Galaxy Digital Applied For U.S. Listing In 2021

The move to list on a U.S. exchange has been a long time coming for Galaxy Digital, which applied to go public in the U.S. in 2021.

Earlier this year, the New York attorney general’s office sued Galaxy Digital for allegedly promoting the collapsed Terra-Luna project to investors without disclosing its intent to sell its own holdings.

The crypto firm agreed to a $200 million settlement to resolve the claims.

The lawsuit, filed in January, focused on the dramatic collapse of TerraUSD (UST) and LUNA, wiping out roughly $43 billion in value by May 2022.

The attorney general’s complaint alleged that Galaxy Digital engaged in deceptive practices by promoting the tokens to investors while simultaneously planning to sell its own substantial holdings.

The New York AG’s office claimed that Galaxy Digital's actions were in violation of state securities law.

The post Mike Novogratz's Galaxy Digital Cleared For Nasdaq Listing After Terra-Luna Settlement appeared first on Benzinga.