Here’s what happened in crypto today
Galaxy Digital, Multicoin and Jump Crypto plan $1B Solana fund
Digital asset firms Galaxy Digital, Multicoin Capital and Jump Crypto are reportedly working together to raise $1 billion to buy Solana (SOL) tokens. According to the report, the three firms have engaged Cantor Fitzgerald as lead banker and are exploring a structure that could involve taking over a publicly traded entity to create a dedicated digital asset treasury focused on SOL.
The effort is said to have the endorsement of the Solana Foundation. SOL remains among the largest tokens by market capitalization and was trading near $200, having risen about 6.6% over the last 30 days.
Bitcoin drops to $112,174 amid large whale sales
Bitcoin experienced a sharp decline to approximately $112,174, a move some analysts attribute to long-term Bitcoin holders — so-called whales — cashing out. Observers noted that a seven-year-old whale rotated nearly $2 billion worth of Bitcoin into Ether over the course of a week, and that a concentrated sale contributed to a roughly 2.2% price drop within a short ten-minute window.
Commentators pointed out that differences in cost basis and the selling rate of large holders can materially affect how much new capital is required to support higher prices. The pullback in Bitcoin coincided with Ether also slipping before both assets staged partial recoveries. The sell-off came shortly after another whale sold roughly 670 BTC, a trade reportedly worth about $76 million, to open a long position in ETH.
Telegram founder Pavel Durov updates on French investigation
Telegram founder Pavel Durov said that a French law enforcement investigation has so far produced no evidence of wrongdoing by Telegram or himself, yet the probe continues. He criticized the French authorities for prolonging the matter despite an absence of findings, describing his earlier detention as unprecedented and unjustified.
Durov reiterated that the ongoing criminal investigation has attracted international attention and widespread condemnation, with some characterizing the case as politically motivated and as an attempt to pressure online platforms toward greater censorship.
These were the main developments shaping crypto markets and regulatory discussions today. Stay tuned for further updates as the stories evolve.
