Blockchain

Galaxy Digital Set To Buy BitGo for $1.2 Billion

Galaxy Digital, a financial services firm headed by Michael Novogratz, has agreed to buy crypto custody firm BitGo f0r $1.2 billion in stock and cash, per an announcement today.

BitGo shareholders will get $33.8 million of newly issued shares of Galaxy Digital common stock and approximately $265 in cash, per the terms of the deal.

“The acquisition of BitGo establishes Galaxy Digital as a one-stop-shop for institutions and significantly accelerates our mission to institutionalise digital asset ecosystems and blockchain technology,” said Novogratz.

This is a developing story. Check back for updates. 

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Source: https://decrypt.co/69934/galaxy-digital-set-to-buy-bitgo-for-1-2-billion