Analysis of Galaxy Digital’s acquisition of BitGo for $1.2 billion

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August 16, 2022, 1:23 p.m. EDT

• 3 minute read

Quick setting

  • This is part of The Block Research’s Market Commentary Series
  • Galaxy Digital’s acquisition of BitGo for $1.2 billion has been reversed, with Galaxy Digital citing BitGo’s failure to provide audited financial statements for fiscal year 2021
  • BitGo responded with a + $100mm Trial and engaged the law firm, Quinn Emanuel, seeking damages
  • Galaxy Digital ($GLXY) closed Monday, August 15, trading at $6.85/share, a +6.3% move in intraday trading
  • Today, August 16, Galaxy is currently trading at $5.97/share, down about 13% from intraday trading at the time of this writing.
  • Disclaimer: This is a market commentary research article and includes expert views from our research team. Nothing in this article constitutes a solicitation, recommendation, endorsement or offer by The Block Research.

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