Galaxy Digital Shifts $100M ETH to SOL via Binance Amid Market Concerns

In a significant portfolio reallocation, Mike Novogratz’s Galaxy Digital has exchanged $100 million worth of Ethereum (ETH) for Solana (SOL), leveraging Binance for the swap. The move comes as analysts highlight structural risks in ETH’s market position.

Galaxy Digital Swaps $100M ETH for SOL

Mike Novogratz’s Galaxy Digital has swapped $100 million worth of ether (ETH) for solana’s SOL. On-chain data shows Galaxy transferred 65,600 ETH to Binance and withdrew 752,240 SOL. The move may be due to ETH’s structural decline, according to Standard Chartered. Galaxy now holds $87.9 million in ETH and $23.86 million in SOL.

WazirX to Get Court Hearing Next Month for Restart and Creditor Payments

WazirX, the crypto exchange hacked for $234.9 million last year, prepares to restart operations and begin creditor payments after a Singapore court hearing on May 13. If the court approves WazirX’s restructuring and user compensation plan, payments will commence within 10 business days. The exchange was hit by a North Korean attack that wiped out nearly 45% of user assets.