Hut 8 settles $2.35 million securities class action, Galaxy strategically invests in digital asset lending platform Digital Prime Technologies
Comparing news,
According to BBX data, yesterday, the two leading listed companies in crypto concept stocks completed the settlement of key historical matters and strategic layout upgrades respectively. The core developments are as follows:
Hut 8 Corp. (Nasdaq: $HUT) officially disclosed on June 23 that the company agreed to pay investors $2.35 million in cash to settle a securities class action lawsuit arising from the 2023 merger and acquisition with U.S. Bitcoin Corp (USBTC). The case was handled by the U.S. District Court for the Southern District of New York. The plaintiff was an investor who held Hut 8 securities between February 13, 2023 and January 18, 2024. The core allegation was that the company made significant omissions to disclose infrastructure issues (including energy power restrictions and network connection failures) at its King Mountain Texas Bitcoin mine during the merger and acquisition process, which constituted material misleading to investors. The trigger for this case was a questioning report issued by the shorting agency J Capital Research on January 18, 2024. Hut 8's stock price plummeted by more than 23% in a single day. The $2.35 million settlement amount accounted for about 19.6% of the plaintiff's estimated maximum recoverable damages of $12.8 million, exceeding the historical median settlement rate of similar claims involving only the Securities Law; the settlement still requires final court approval, and Hut 8 denies any wrongdoing and legal liability. The settlement removed the last major historical legal suspense in the company's AI/HPC data center transformation narrative — the valuation logic of its River Bend ($70 billion contract) and Beacon Point ($9.8 billion contract) dual-campus delivery schedule during the year unfolds in the context of a cleaner balance sheet.
Galaxy Digital Inc. (Nasdaq: $GLXY) announced on June 23 that it is making a strategic investment in Digital Prime Technologies (securities lending technology platform) without disclosing specific financial terms. The investment builds on Galaxy's existing role as the initiator of the Tokenet platform — Tokenet was developed by Digital Prime Technologies in collaboration with institutional securities lending infrastructure provider EquiLend and was officially launched in May 2026 to introduce mature workflows, risk control mechanisms, and full life cycle management systems in the field of institutional securities lending into the digital asset lending market. Galaxy has now upgraded from a platform participant to an equity investor, directly linking the operation of the Tokenet platform to its own institutional lending and trading business, forming a triple collaboration of “product + balance sheet + equity”. This move is highly consistent with Galaxy's overall business strategy: on the basis of CoreWeave's 15-year AI data center lease (Phase 1 133MW delivered in April) bringing stable cash flow, the dependence on a single beta Bitcoin price was further reduced by deepening the institutional digital asset lending infrastructure layout — Galaxy was also listed by institutional research reports on the same day as one of the few crypto concept stocks that can maintain business resilience during the Bitcoin price downturn cycle. The diversified layout is considered to be pure BTC The core reason for the relative decoupling of price exposure.
