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Cryptocurrency custody platform BitGo has raised fresh capital after facing a series of terminated deals involving firms such as Michael Novogratz’s Galaxy Digital.BitGo has raised $100 million in a Series C financing round bringing the company’s valuation to $1.75 billion, the firm announced to Cryptox on Aug. 16.The newly raised funds
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The raises comes nearly two months after BitGo ended its plan to buy beleaguered rival Prime Trust. Source
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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a
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“This next era of institutional adoption has to be done via a tech-focused mindset first; you can't just throw a balance sheet at it,” Ballensweig said in an interview with CoinDesk. “When I heard [BitGo CEO] Mike Belshe’s vision for this, it was precisely how I would have designed this
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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Digital assets custodian BitGo, will not be going forward with its planned acquisition of its rival crypto custody platform Prime Trust. BitGo announced the termination of the purchase of Prime Trust via Twitter on June 22. Although
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On June 22, wallet infrastructure provider and digital asset custodian BitGo announced on Twitter that it had decided to cancel its acquisition of fintech infrastructure provider Prime Trust. According to BitGo, “This decision was not made lightly.” The full announcement read: “After considerable effort and work to find a path forward
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Prime Trust has been losing clients and deposits to competitors for weeks amid mounting concerns over its business, a source at one former client told CryptoX. Source
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The payments subsidiary of crypto custodian Prime Trust, Banq, filed for bankruptcy protection in the United States on June 13, court documents show.The move comes just days after wallet infrastructure provider and digital asset custodian BitGo signed a non-binding letter of intent to acquire Prime Trust, which was announced on
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Delaware Court of Chancery has granted a motion by Galaxy Digital, resulting in the dismissal of BitGo’s case following the abandoned acquisition. Vice chancellor J. Travis Laster affirmed that Galaxy Digital had the right to terminate
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