BitGo assets hit $16 billion as institutional adoption grows
Digital assets under custody reached a new milestone this month, BitGo says. BitGo, whose investors include Galaxy Digital Ventures, Goldman Sachs and Valor Equity Partners, reported Wednesday that digital assets under custody have surpassed $16 billion for the first time, offering further validation that institutional demand has arrived. In an official press release, BitGo said institutional investors are seeking exposure to digital assets “for custody, trading and lending.” CEO Mike Belshe commented:“We’re seeing unprecedented interest from institutional investors as a result of the....
Related News
Bitgo’s assets under custody have surpassed $16 billion. The company says it is seeing “unprecedented interest from institutional investors,” resulting from the economic impact of the coronavirus pandemic and the recent bitcoin bull run. Paypal was also rumored to be in acquisition talks with the company. $16 Billion in Cryptocurrencies Under Custody Bitgo announced Wednesday that it has hit a new milestone of more than $16 billion in digital assets under custody. The company noted that the achievement further validates institutional investor interest in cryptocurrency,....
Under the acquisition's terms, BitGo shareholders will get 33.8 million in newly issued shares of Galaxy Digital, in addition to $265 million in cash. Galaxy Digital, a crypto and blockchain-focused financial services and investment manager founded by Mike Novogratz, is set to acquire institutional crypto custodian service and wallet operator BitGo.According to an announcement on May 5, Galaxy Digital Holdings will pay $1.2 billon in stock and cash to settle the deal. Under the acquisition's terms, BitGo shareholders will get 33.8 million in newly issued shares of Galaxy Digital, in....
Galaxy Digital has announced that it’s backing out of its $1.2 billion proposed acquisition of the cryptocurrency custodian, BitGo. Galaxy Digital Backs Out Of BitGo Deal A $1.2 billion acquisition of Palo Alto, California-based BitGo by digital asset investment firm Galaxy Digital has been canceled, ending one of the biggest acquisitions in cryptocurrency history. In […]
BitGo announced today the release of its latest product offering, Verified by BitGo, a product that provides a real-time view of bitcoin assets owned by a company.Whereas in the past, verification attempts were slow and often had security risk concerns, BitGo hopes that this will be a verification that allows it to publicly share all of its assets. Further, it will be able to cryptographically display that it is in a solvent state.When dealing with brokerages and wallets, knowing that the provider is solvent can go a long way toward making a decision on using a service. This service will....
Institutional clients have shown strong demand for airtight and insured custody options. Digital asset custody firm BitGo has expanded its cold storage insurance program, raising its insurance capacity by $600 million.BitGo debuted its crypto insurance program through global insurance and reinsurance market Lloyd’s of London in 2019. This enabled BitGo clients to acquire insurance for their digital assets held on BitGo’s Business Wallet service and Custodial offering for up to $100 million.BitGo announced Wednesday that its “Dedicated Customer Excess Specie” insurance program has been....