BBX: Ut 8 settles USBTC lawsuit and Galaxy Digital invests in Tokenet with full analysis

BBX News: Yesterday, Hut 8 officially disclosed the settlement of its 2023 USBTC merger related investor securities class action lawsuit, and the two-year legal dispute has officially entered the final stage; Galaxy Digital announced on the same day a strategic investment in institutional cryptocurrency lending platform Digital Prime Technologies, upgrading its participation from the tokenet platform to an equity investor and supporting the introduction of institutional securities lending workflow standards into the digital asset market. Core points: ——Hut 8 Corp. (Nasdaq: $HUT): agrees to pay $2.35 million in cash to settle the USBTC merger investor securities class action lawsuit; The plaintiff alleges that the company did not fully disclose the energy restrictions and network failures at the King Mountain Texas Bitcoin Mine; The settlement amount accounts for approximately 19.6% of the highest potential damages compensation of 12.08 million US dollars, exceeding the historical median proportion of similar cases; Settlement requires final approval from the court; Hut 8 denies any inappropriate behavior; Currently holds a majority stake in American Bitcoin (ABTC) and has signed $1.68 billion in AI data center contract revenue. ——Galaxy Digital Inc. (Nasdaq: $GLXY) announced a strategic investment in Digital Prime Technologies on June 23, with an undisclosed amount; The institutional cryptocurrency lending platform Tokenet, jointly developed by Digital Prime Technologies and EquiLend, will be launched in May 2026; Galaxy has upgraded from an initiating participant to an equity investor; Tokenet introduces institutional securities lending workflow, risk control, and full lifecycle management system; Galaxy's lending and trading business has become the core anchor user of the platform. Source: bbx.com/