Galaxy Digital, a crypto-focused financial services company led by Mike Novogratz, has received a BitLicense and Money Transmission License from the New York State Department of Financial Services (NYDFS), allowing it to expand regulated digital asset services to institutional clients in the state.The company said Monday that the approvals were granted to its subsidiary, GalaxyOne Prime NY, which provides trading and financing services to institutional investors.The licenses extend Galaxy’s regulatory reach into New York, one of the most tightly regulated jurisdictions for cryptocurrency businesses in the United States.In a statement, Novogratz said New York represents the “deepest pool of institutional…

In brief PCT Litigation Trust sued financial services firm Swan Bitcoin seeking repayment of nearly $1 billion in assets. The lawsuit alleges that Swan used inside information to avoid significant losses from the Prime Trust collapse in 2023. The suit seeks repayment of nearly 12,000 Bitcoin along with stablecoins, XRP, and more. Electric Solidus, Inc, which operates as Bitcoin services firm Swan Bitcoin, was named as a defendant in a newly filed lawsuit in Delaware Bankruptcy Court that aims to recover nearly $1 billion worth of cryptocurrency linked to the 2023 collapse of Prime Trust.The suit, filed by PCT Litigation…

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