PayPal rumored to be eying acquisition of crypto custodian BitGo
Shortly after it was revealed PayPal will launch crypto payments in 2021, rumors are circulating that the payments giant is looking to purchase a digital asset custodian. Global payments firm PayPal is looking to acquire a crypto asset custody firm, with a report published by Bloomberg on Oct. 23 claiming the company is currently in talks with BitGo Inc.Anonymous sources cited in the report claimed that the two companies may reach an agreement within a matter of weeks. BitGo is a multi-signature custodian that was founded in 2013. In 2018 the company raised $15 million in a round led by....
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Talks regarding a possible acquisition by PayPal of bitcoin custodian BitGo have fallen through, Fortune reported, citing multiple sources. Read more: PayPal Said to Be in Talks to Buy Crypto Firms Including BitGo: Bloomberg
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’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,....
Galaxy Digital Holdings and the company’s CEO and founder Mike Novogratz announced the company has “exercised its right to terminate” a previously announced acquisition of Bitgo. According to Galaxy the termination of the deal was due to Bitgo’s “failure to deliver” audited financial statements for 2021.
Galaxy Ends Deal With the Crypto Custodian Bitgo
On Monday, Galaxy Digital Holdings (TSX: GLXY) explained that the company has terminated a proposed $1.2 billion stock and cash deal that would allow the crypto firm to acquire the digital....
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....