Galaxy Digital Offloads $8.91M in Ethereum (ETH) From Binance

IconCryptoNewsTerminal Staff20 Sep, 2024

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Galaxy Digital Offloads $8.91M in Ethereum (ETH) From Binance

The on-chain data provider, The Data Nerd, reported on Twitter that Galaxy Digital withdrew 25,000 ETH from Binance. This transaction is equivalent to roughly $8.91 million at the current market price. The withdrawal comes amid the recent market volatility and increased scrutiny of crypto exchanges following the collapse of FTX. It is not immediately clear why Galaxy Digital withdrew such a large amount of ETH from Binance. However, the move may be related to the company's decision to suspend withdrawals of certain assets from its platform. Galaxy Digital has not yet commented on the transaction.

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