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The two initially agreed to a deal in May 2021, with Galaxy looking to become a one-stop shop for prime brokerage services geared toward institutional investors. With the crypto bear market in full swing, Galaxy ultimately called off the merger in August 2022, citing Bitgo’s withholding of audited financial statements. Source
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Wallet infrastructure provider and digital asset custodian BitGo have signed a non-binding letter of intent to acquire fintech infrastructure provider Prime Trust, according to an announcement on June 8. The terms of the agreement were not disclosed. If the deal goes through, BitGo will acquire Prime Trust’s payment rails and cryptocurrency IRA fund
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The need for safekeeping and storage of cryptocurrencies, particularly for institutional customers and high net worth individuals, has driven digital asset custody to prominence, with many flavors on offer and firms commanding high valuations. The issue has also drawn the attention of the U.S. Securities and Exchange Commission (SEC), which
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On Thursday, digital asset custody provider, Bitgo, announced the launch of its storage and tracking solution for Bitcoin-based Ordinal inscriptions. Moreover, users can use Bitgo’s Ordinal inscription storage system to inscribe their own inscriptions onto the Bitcoin blockchain. Bitgo’s New Solution Allows for Safe Sending of Ordinal Inscriptions Bitgo has announced a
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"Bitcoin Ordinals brought an entirely new layer of engagement to the Bitcoin network but, upon launch, the surrounding ecosystem missed key security components to ensure high-value Ordinals Inscriptions were safeguarded,” Chen Fang, BitGo's chief operations officer, told CoinDesk over email. Original Source
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Cryptocurrency wallet BitGo has patched a critical vulnerability that could have exposed the private keys of retail and institutional users.Cryptography research team Fireblocks identified the flaw and notified the BitGo team in December 2022. The vulnerability was related to BitGo Threshold Signature Scheme (TSS) wallets and had the potential to
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The collapse of crypto exchange FTX and other bearish events in the space were at the center of discussions among lawmakers and witnesses at the inaugural hearing of the United States House Committee on Financial Services’ Subcommittee on Digital Assets, Financial Technology and Inclusion.Addressing lawmakers at the March 9 hearing,
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Mike Belshe, the CEO of digital asset custodian BitGo has confirmed that Alameda Research attempted to redeem 3,000 Wrapped Bitcoin (wBTC) in the days before FTX’s bankruptcy filing on Nov. 11. During a Dec. 14 Twitter Spaces hosted by decentralized finance (DeFi) researcher Chris Blec, Belshe confirmed the firm knocked back
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On Nov. 2, 2022, the digital asset custody business and financial services provider Bitgo introduced a wrapped version of the meme coin asset dogecoin built on top of the Ethereum blockchain. The company detailed the wrapped dogecoin initiative, the Wdoge DAO, is through a partnership between the Dogecoin Foundation, Bluepepper,
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The announcement comes as DOGE surged 102% in October Source
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