Multicoin Capital is down over $40M on $AAVE and now appears to be selling to cut losses. Between Oct. 13 and Nov. 25, 2025, Multicoin Capital received 338,005 $AAVE($73.7M) from Galaxy Digital OTC wallet at an average price of $218. It is now sitting on losses of over $40M. Over the past 5 hours, Multicoin Capital transferred 150,000 $AAVE ($14.92M) to Galaxy Digital OTC wallet and BitGo, likely for selling.

Capital should not have to choose between yield and utility. Galaxy, one of the largest publicly listed digital asset firms, now accepts OpenEden's USDO and cUSDO as margin collateral across its derivatives platform. For institutional clients of @galaxyhq, this means capital backing their derivatives positions is no longer idle. It earns US Treasury yield while remaining fully deployed within Galaxy's trading infrastructure, without operational friction or compromise on flexibility. Productive collateral is becoming the new standard.

Sharplink and @galaxyhq are planning to launch the Galaxy Sharplink Onchain Yield Fund, a $125M vehicle deploying our staked ETH treasury into institutional-grade DeFi strategies. CEO @joechalom on the strategy behind it: “We’ve been very vocal that our job as an Ethereum treasury company is to make our ether productive first and, over time, to maximize that productivity.” via @Forbes: