Hut 8 settles with US Bitcoin (USBTC) investors for $2.35 million, ending a two-year legal dispute over the merger and acquisition; Galaxy Digital invests in the institutional crypto lending platform Tokenet to promote industry compliance standards.

ME News Report, June 24, 2026 (UTC+8), according to BBX Cryptocurrency Concept Stock Information Disclosure, the global cryptocurrency concept stock market experienced pressure correction yesterday under the stress of Bitcoin falling to approximately $62,300. Two core targets released specific progress at the company level: Hut 8 and the resolution of USBTC litigation, as well as Galaxy Digital's full analysis of Tokenet investment.

【Core Dynamic Highlights】

• 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 class-action securities lawsuit arising from the 2023 merger with U.S. Bitcoin Corp (USBTC). The case is handled by the Southern District of New York Federal District Court, with plaintiffs being investors holding Hut 8 securities between February 13, 2023, and January 18, 2024. They accused the company of significant omissions in disclosing infrastructure issues at the King Mountain Bitcoin mine in Texas during the merger process, including energy curtailments and network connectivity failures. The lawsuit was triggered by a report questioning issued by short-selling firm J Capital Research on January 18, 2024, which caused Hut 8's stock to plummet over 23% in a single day. The $2.35 million settlement amount accounts for approximately 19.6% of the plaintiffs' estimated maximum recoverable damages of $12.08 million, exceeding the median settlement ratio in similar cases involving only securities law claims. The settlement still requires final court approval, and Hut 8 denies any misconduct or legal liability.
• Galaxy Digital Inc. (Nasdaq: $GLXY) announced on June 23 a strategic investment in Digital Prime Technologies, with specific financial terms not disclosed. This move builds on Galaxy’s existing role as a participant in the Tokenet platform—developed jointly by Digital Prime Technologies and EquiLend, officially launched in May 2026, aiming to introduce mature workflows, risk control mechanisms, and full lifecycle management systems from institutional securities lending into the digital asset lending market. Galaxy’s upgrade from participant to equity investor directly links platform operations with its own lending and trading businesses. On the same day, Galaxy Digital was reported by market institutions as one of the few cryptocurrency concept stocks able to maintain business resilience during Bitcoin price downturns. Its diversified layout—including institutional lending, asset management, and data center infrastructure—is considered a core reason for its relative decoupling from pure Bitcoin price exposure. (Source: BBX)