What happened to Galaxy Digital's BitGo acquisition?

Galaxy Digital said Monday it has terminated the $1.2 billion proposed acquisition of crypto custodian BitGo, a high-profile deal they announced in May last year, after the San Francisco-based startup failed to provide its audited financial statements for the year 2021.

What is the Galaxy acquisition?

Galaxy's aim with the acquisition is to expand its prime brokerage offering. Around 40 people would be joining Galaxy's team, including blockchain engineers and cryptographers. Expand Galaxy's global footprint with a new office in Tel Aviv, Israel, is a major outcome of the deal, which is subject to regulatory approval.

When will Galaxy Digital's Acquisition close?

The acquisition is expected to close in the fourth quarter of 2021, subject to approval by Galaxy Digital's shareholders of the domestication of Galaxy Digital as a Delaware corporation and the internal restructuring described below, as well as certain related matters and other acquisition-related closing conditions and regulatory approvals.

How much did Galaxy Digital invest in FTX?

(Bloomberg) -- Galaxy Digital Holdings Ltd., the crypto financial services firm founded by billionaire Michael Novogratz, disclosed $76.8 million exposure to the collapsed exchange FTX.com and expects more challenging industry environment in the weeks ahead from the turmoil.