Galaxy Digital Ends Billion-Dollar Deal: Abandoned Acquiring BitGo

Cryptocurrency-focused investment firm Galaxy Digital has announced that it has terminated its acquisition of cryptocurrency exchange BitGo.

Galaxy Digital August 15 In a statement published on the investor relations page on , it officially announced the acquisition process of BitGo, which it started in May 2021. that you have terminated announced. Any company no termination fee reported to its investors.

The investment company shall state the reason for the termination of the process in accordance with the requirements of the contract, 31 July 2022 until 2021 of the year submission of audited financial statements liability by BitGo failure to fulfill as declared.

Galaxy Digital started acquisition talks with BitGo in May 2021, then at $1.2 billion had decided. However, the parties sat at the negotiating table again in March 2022 in order to renegotiate the terms.

Galaxy Digital already on Nasdaq continues its preparations to be listed. Experts say that the reason for the abandonment of the BitGo purchase, not risking the listing process they say it could be. In BitGo’s financial statements an unexpected impropriety It is estimated that it could jeopardize the listing process of the entire company.

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