Galaxy Digital Transfers 25,000 ETH to Binance in Three Days
Date: 2025-04-16 Author: Henry Casey Categories: BUSINESS
Over the past three days, Galaxy Digital has transferred an impressive amount of cryptocurrency to the Binance crypto exchange - 25,000 ETH, which in monetary terms is more than $40 million. Lookonchain analysts recorded that the transfers were made in several parts: first, 2,500 ETH were sent for $4.05 million, then 10,000 ETH for $16.32 million. Before that, on April 12, Galaxy Digital had already sent another 4,500 ETH ($7.11 million) and 8,000 ETH ($12.63 million) to Binance.
In addition to Ether, the company also made significant transfers in stablecoins. Binance received 5 million USDT, as well as 100,000 USDC and a small amount of Avalanche tokens (AVAX), equivalent to $1,000.
According to Arkham Intelligence, after these transactions, Galaxy Digital was left with 199,795 ETH worth about $328,470 and 18,150 AVAX worth $363,180. In addition, the company maintains stablecoin reserves: 4.208 million DAI and 3.757 million USDC. The total value of these assets is approximately $7.97 million.
The active movement of crypto assets began shortly after reaching an agreement with New York state authorities in the Terraform Labs case. Galaxy Digital agreed to pay compensation in the amount of $200 million to settle the claims of the prosecutor's office related to the sale of LUNA tokens. The company acquired LUNA at a discounted price back in 2020 and actively promoted it, causing the token's price to skyrocket. Galaxy Digital then sold the assets and made hundreds of millions of dollars in profit. Investigators believed that the company could have carried out such transactions without the required disclosure to investors.
Amid these events, the US Securities and Exchange Commission (SEC) approved Galaxy Digital's listing on the Nasdaq last week. The company's shares currently continue to trade on the Canadian TSX.
