Galaxy Digital-linked address withdraws $7.61 million worth of ETH from Coinbase

IconCryptoNewsTerminal Staff29 May, 2024

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Galaxy Digital-linked address withdraws $7.61 million worth of ETH from Coinbase

Galaxy Digital, a crypto financial services firm, has withdrawn $7.61 million worth of ETH from Coinbase. The withdrawal was reported by on-chain analyst The Data Nerd, who noted that the transaction occurred four hours prior to his tweet. The address associated with Galaxy Digital currently holds 13,478 ETH ($51.84 million) and $83 million in stablecoins. This transaction is one of several large ETH withdrawals that have been observed in recent weeks, as institutional investors look to reposition their crypto portfolios.