BitGo Files Lawsuit Against Galaxy Digital
Reading Time: < 1 minute
Crypto custody service BitGo has filed a lawsuit against Mike Novogratz, CEO of cryptocurrency trading bank Galaxy Digital for withdrawing from a merger deal.
According to BitGo:
“BitGo has filed a lawsuit against Galaxy Digital seeking damages of more than $100 million resulting from Galaxy’s wrongful withdrawal and willful violation of the merger agreement.”
In the spring of 2021 it was known that Novogratz planned to buy BitGo. Later, the parties confirmed the information and announced the transaction would amount to $1.2 billion in shares and cash.
In August this year, Galaxy Digital backed out of buying BitGo, citing the provider’s lengthy financial filing process.
Follow and like us on
