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Digital asset custodian BitGo said it planned to seek more than $100 million in damages from Galaxy Digital, alleging the investment firm owed the funds as part of a “reverse break fee” in its decision to terminate an acquisition agreement.In a Monday blog post, BitGo referred to Galaxy’s actions as
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“The attempt by Mike Novogratz and Galaxy Digital to blame the termination on BitGo is absurd,” said R. Brian Timmons, a partner with Quinn Emanuel, the law firm BitGo has retained. In the press release, he pointed to Galaxy's recent losses, which he said range in the hundreds of millions
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The latest price moves in bitcoin (BTC) and crypto markets in context for August 15, 2022. Source
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After more than a year of efforts to acquire the digital asset custodian BitGo, Mike Novogratz’s cryptocurrency investment firm Galaxy Digital has decided to drop the acquisition.Galaxy has terminated the BitGo acquisition, citing a breach of contract, the firm officially announced on Monday.According to the statement, Galaxy exercised its right
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The $1.2 billion acquisition was announced May 2021 and was expected to close by the end of that year. Original Source
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The massive jump in losses was mainly due to the crypto market downturn and on investments in their trading business. Original Source
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Cryptocurrency mining firm Argo Blockchain continues to sell its Bitcoin (BTC) holdings to cut its debt to Michael Novogratz’s crypto investment firm Galaxy Digital.Argo sold another 887 Bitcoin in July to reduce obligations under a BTC-backed loan agreement with Galaxy Digital, the firm announced on Friday.With the average BTC price
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Billionaire Mike Novogratz has warned investors to not expect much of a recovery in bitcoin anytime soon. Novogratz who serves as the CEO of the digital asset merchant bank Galaxy Digital has always been a big proponent of Bitcoin and its advantages. However, he has recently shared his thoughts on
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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, CryptoX is a media outlet that strives for the highest journalistic standards and abides by a
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