Galaxy Digital’s Termination of $1.2B Acquisition of Crypto Custodian BitGo Upheld by Federal Judge

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.