Analysis of Galaxy Digital's $1.2bn Acquisition of BitGo

August 16, 2022, 1:23PM EDT

• 3 min read

Quick Take

This is part of The Block Research’s Market Commentary series
Galaxy Digital’s $1.2bn acquisition of BitGo has been called off with Galaxy Digital citing BitGo’s failure to provide audited financial statements for fiscal year 2021
BitGo responded with a +$100mm lawsuit and hired law firm, Quinn Emanuel, seeking damages
Galaxy Digital ($GLXY) closed Monday, August 15th, trading at $6.85 / share, a +6.3% move in intra-day trading
Today, August 16th, Galaxy is currently trading at $5.97 / share, a ~13% decline in intra-day trading at the time of this writing
Disclaimer: This is a market commentary research piece and includes opinionated views from our research team. Nothing contained in this piece constitutes a solicitation, recommendation, endorsement, or offer by The Block Research.

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Source: https://www.theblockresearch.com/analysis-of-galaxy-digitals-1-2bn-acquisition-of-bitgo-163605?utm_source=rss&utm_medium=rss