Galaxy Digital Withdraws $44M in Bitcoin from Centralized Exchange

Krutika Adani

Major BTC Move by Galaxy Digital

On-chain data reveals Galaxy Digital withdrew 400 cbBTC from a centralized exchange, signaling possible reallocation or DeFi deployment.

Inside Galaxy’s Wallet

Galaxy’s wallet contains 2,143 cbBTC ($234.63M), showing strong confidence in synthetic Bitcoin assets like cbBTC and a robust on-chain footprint.

Strategic Bitcoin Diversification

Assets include 805 cbBTC, 420 BTCB, and 100 FBTC—collectively valued at $145M—hinting at a diversified synthetic BTC strategy.

What This Means for the Market

As Galaxy shifts funds on-chain and into DeFi, it sends a clear signal: institutional players are embracing decentralized finance at scale.

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