Bitgo Files Lawsuit Against Novogratz’s Galaxy Digital for $100M Over ‘Intentional Breach’ of a Merger Agreement

Bitgo Files Lawsuit Against Novogratz’s Galaxy Digital for $100M Over ‘Intentional Breach’ of a Merger Agreement


According to statements made by the digital asset custody business and financial services provider Bitgo, the firm has filed a lawsuit against the crypto company Galaxy Digital and is seeking damages for more than $100 million. Bitgo says Galaxy’s “improper repudiation and intentional breach of its merger agreement” caused the lawsuit.

Bitgo Seeks Damages From Galaxy Digital for Terminated Merger Agreement

On August 16, 2022, Bitcoin.com News reported on billionaire investor Mike Novogratz’s Galaxy Digital terminating the company’s proposed acquisition deal for the crypto asset financial services provider Bitgo. Galaxy originally had intentions in May 2021 to purchase Bitgo for a $1.2 billion stock and cash deal. However, Galaxy said that the termination was due to Bitgo’s “failure to deliver” specific financial documents. More specifically,

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