Cryptocurrency one of the largest investment companies in the market Galaxy Digitalthe cryptocurrency custodian in a statement this morning BitGoannounced that it has abandoned its plan to acquire .
He said that BitGo had to submit the audited financial statements for 2021 by July 31 and terminated the Galaxy Digital acquisition agreement, stating that it did not do so.
CEO and Founder of Glaxy Digital Mike Novogratz said in a statement:
“Galaxy remains in position to capitalize on strategic opportunities for success and sustainable growth.
We are committed to maintaining our US listing and providing our customers with a world-class solution that truly makes Galaxy a one-stop shop.”
As you may recall, in May 2021, Galaxy Digital announced that it had purchased BitGo for $ 1.2 billion. However, Galaxy Digital said in March of this year that the terms of the purchase agreement were being renegotiated.
Galaxy Digital, which is currently in the process of restructuring to become a Delaware-based company, plans to be listed on the Nasdaq after the SEC’s review.
Galaxy Digital also said in a statement that it plans to continue the planned rollout of Galaxy One Prime, a product offering for institutional investors that includes crypto custody services as well as trading, lending and derivatives services.
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