Skybridge Capital and the founder of Anthony Scaramucci says that recent legal procedures from New York (NayG) is the latest legal action against Galaxy Digital because of its promotional relations with Terra (Luna) was unfair and misuse of the legal system.
“It is Lore, pure and simple because of the mysterious New York law, but it is dangerously strong known as the Martin Law,” Scaracci He said In the publication of March 28.
Martin can “open the door for assault”
He said: “The law does not need to prove the intention, which creates a low standard of proof that can open the door to abuse such. It should not be present.”
Martin's law in New York is one of the most anti -fraud and securities laws in the United States, allowing prosecutors to follow up on financial fraud cases without the need to prove intention. Nayg claimed that Galaxy Digital violated the Martin Law on the alleged promotion of Terra, with the approval of the Galaxy Digital on a $ 200 million settlement.
According to Nayg documents provided on March 24, Galaxy Digital acquired 18.5 million Luna icons with a 30 % discount in October 2020, then promoted them before selling it without adhering to the rules of detection.
Scaracci repeated that the CEO of Galaxy Michael Novoghatz was under the impression of everything he was saying about Luna was true, as he was deceived by Terraform Labs and former CEO, Do Kwon.
source: Amanda Fischer
Meanwhile, Keith Grossman He said He never heard about Martin's law and had to search for him using AI Chatbot Chatgpt.
“It is very wide and it is the essence of Lawfare,” Grossman said. “Sorry, I fell into the intersection, Mike,” added.
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The deposit claimed that Galaxy helped a “unknown” symbol, referring to Luna, to increase the market price from $ 0.31 in October 2020 to $ 119.18 in April 2022 while “benefits from hundreds of millions of dollars.”
The director of assets and investor Anthony Boxbrano said that he is not aware of the details of the lawsuit, but he ascended to Novogratz, and described him as a “good man” devoted a lot of time and money to help others.
The collapse of Terra is one of the most common cases of failure in the encryption industry. In March 2024, the lawyer for the Supreme Education Council Devon Starn at the American Provincial Court of the southern region of New York said that Terra was a “house” collapsing for investors in 2022.
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