What is BitGo & Galaxy Digital?

BitGo's product suite is complementary to Galaxy Digital's existing offerings across Asset Management, Trading, Investment Banking, and Mining. The combined business will be uniquely positioned to serve the entirety of clients' financial services needs, whether they are storing assets or transacting.

What does glxy do with BitGo?

Galaxy Digital Holdings Ltd. GLXY, +0.98%, a financial services and investment manager in the digital asset, cryptocurrency and blockchain technology sectors, said Wednesday it has agreed to acquire BitGo, an independent digital assets infrastructure provider, for $1.2 billion in stock and cash.

Why did Galaxy abandon its bid for BitGo?

I cover cryptocurrency for Forbes Digital Assets. What was supposed to be a landmark deal for the crypto industry has fallen apart in acrimony as Galaxy Digital Holdings said it would abandon its $1.2 billion bid for BitGo, claiming the digital-asset custodian failed to deliver financial statements that the target company insists it has supplied.

Who owns BitGo?

It was founded in 2013 by Mike Belshe and Ben Davenport. Galaxy Digital announced its acquisition of BitGo in 2021 for $1.2 billion, although this acquisition was announced to have been canceled in 2022 after the crypto downturn, with BitGo continuing as an independent company.