Galaxy launches crypto-backed loans for Bitcoin and Solana at 8.99% APR

Galaxy Digital's retail arm isn't waiting for the next bull run to offer liquidity. The firm's GalaxyOne platform now allows investors to borrow cash against their Bitcoin, Ethereum, and staked Solana holdings without triggering a taxable sale. It's a straightforward play for those who want to keep their long-term bags intact while paying for real-world expenses. Borrowers will face an 8.99% APR, a competitive rate that positions Mike Novogratz's outfit directly against traditional crypto lenders. By including staked Solana, Galaxy is betting that users want to keep earning network rewards while they spend their loan proceeds. The move signals a shift away from the risky, opaque lending practices that collapsed in 2022 toward more transparent, institutional-grade credit lines. If Bitcoin's price swings wildly, these borrowers will need to watch their collateral ratios closely to avoid a margin call. Will retail traders trust a big-name firm enough to hand over their private keys for a line of credit?