BitGo seeks $100m in damages after Galaxy terminates merger
Digital asset custody, trading and financing platform BitGo is seeking $100m in damages after Galaxy Digital terminates its merger agreement.
Galaxy Digital Scraps $1.2B Plan to Buy Crypto Custody Firm BitGo
Galaxy Digital, the cryptocurrency-focused financial services firm run by noted investor Michael Novogratz, is walking away from its plan to buy BitGo, saying the crypto custody specialist failed to provide financial statements by a deadline of July 31. “The Hash” panel discusses the latest story turning heads in the crypto community.
#cryptocurrency #digitalfinance #finance #bitcoin #crypto
Subscribe to CoinDesk on YouTube: https://www.youtube.com/user/CoinDesk?sub_confirmation=1
Site: https://www.coindesk.com
Twitter: https://www.twitter.com/coindesk
LinkedIn: https://www.linkedin.com/company/3104779/admin
Instagram: https://www.instagram.com/coindesk
Facebook: https://www.facebook.com/CoinDesk
Newsletters: https://www.coindesk.com/newsletters
CoinDesk Podcast Network: https://open.spotify.com/show/2jyIhkvAQhed8AWDZiPpSP
Markets Daily Crypto Roundup: https://open.spotify.com/show/7sDXM8BlxsUqzL2IqmLqwE
CoinDesk is the leading digital media, events and information services company for the crypto asset and blockchain technology community.
BitGo – The Leader in Digital Assets Financial Services
BitGo – The Leader in Digital Assets Financial Services
Since 2013, institutions have trusted BitGo for their digital asset needs.
Today, BitGo is the leader in digital asset security, custody, and liquidity, providing the operational backbone for more than 1500 institutional clients in over 50 countries — a list that includes many regulated entities and the world’s top cryptocurrency exchanges and platforms. BitGo also processes approximately 20% of all global Bitcoin transactions by value.
Learn more about BitGo on our website: https://bit.ly/3vKGop6
Galaxy Dumps BitGo, Do Kwon Breaks His Silence, and Lyn Alden Talks Macro
Galaxy Digital announced early Monday morning the termination of its $1.2 billion acquisition of BitGo. But BitGo is not walking away without a fight, countering later Monday with its own plans to sue Galaxy for $100 million in damages.
At the top of today’s Real Vision Crypto Daily Briefing, Nico Brugge and Ash Bennington break down the many moving parts of this developing story.
Nico and Ash also cover Acala’s “not-so-stable” stablecoin losing its peg and Terraform Labs CEO Do Kwon breaking his silence for the first time since his project collapsed in May.
In today’s main segment, Nico and Ash dig into Ash’s recent conversation with Lyn Alden, the founder of Lyn Alden Investment Strategy, on the macro environment’s effects on Bitcoin and the U.S. dollar’s relationship to stablecoins. Please drop your questions in the chat – we want to hear from you!
Thanks for watching Real Vision Crypto!
#Galaxydigital #BitGo #Acala
About Real Vision™:
Real Vision™ is where you can understand the complex world of finance, business, and the global economy with real in-depth analysis from experts.
Connect with Real Vision™ Online:
Real Vision Crypto: http://rvtv.io/CryptoRV
Twitter: https://rvtv.io/twitter
Instagram: https://rvtv.io/instagram
Facebook: https://rvtv.io/facebook
Linkedin: https://rvtv.io/linkedin
#Crypto #Blockchain #web3 #raoulpal #realvision #cryptonews #cryptotrading #cryptocurrency #cryptoanalysis
Disclaimer:
This is pretty obvious, but we should probably say it anyway so that there is absolutely no confusion…The material in REAL VISION GROUP video programs and publications {collectively referred to as “RV RELEASES”} is provided for informational purposes only and is NOT investment advice. The information in RV RELEASES has been obtained from sources believed to be reliable, but Real Vision and its contributors, distributors and/or publisher, licensors, and their respective employees, contractors, agents, suppliers, and vendors { collectively, “Affiliated Parties”} make no representation or warranty as to the accuracy, timeliness or completeness of the content in RV RELEASES. Any data included in RV RELEASES are illustrative only and not for investment purposes. Any opinion or recommendation expressed in RV RELEASES is subject to change without notice. RV Releases do not recommend, explicitly or implicitly, or suggest any investment strategy. Real Vision Group and its Affiliated Parties disclaim all liability for any loss that may arise (whether direct indirect, consequential, incidental, punitive or otherwise) from any use of the information in RV RELEASES. Real Vision Group and its Affiliated Parties do not have regard for any individual’s, group of individuals’, or entity’s specific investment objectives, financial situation, or circumstance. RV RELEASES do not express any opinion on the future value of any security, currency, or other investment instruments. You should seek expert financial and other advice regarding the appropriateness of the material discussed or recommended in RV RELEASES and should note that investment values may fall, you may receive less back than originally invested and past performances are not necessarily reflective of future performances. Well, that was pretty intense! We hope you got all of that – now stop reading the small print and go and enjoy Real Vision.
Novogratz’s Galaxy Terminates $1.2B BitGo Acquisition
Delta Blockchain Fund General Partner Kavita Gupta joins Emily Chang and Bloomberg’s Sonali Basak to discuss Novogratz’s stalled BitGo acquisition and how the crypto custody firm is retaliating. Plus, her thoughts on institutional and retail investor sentiment during the crypto winter, and whether crypto consolidation is to be expected.