BitGo CEO Condemns Galaxy Digital’s Token Sales Practices After $200M Settlement

Mike Belshe, CEO of BitGo, has publicly criticized Galaxy Digital following its $200 million settlement with the New York Attorney General over allegations regarding LUNA-related token sales. He believes that Galaxy’s actions raise concerns about deceptive asset promotions and weaken industry credibility, potentially leading to stricter regulatory oversight. Belshe underscores the importance of ethical conduct in a sector already grappling with regulatory uncertainty. Notably, his response highlights the contradiction between promoting tokens while secretly selling them, which he finds unethical.