BitGo said Thursday that it’s terminating the planned acquisition of crypto custodian Prime Trust, just two weeks after it announced plans for the deal.
“This decision was not made lightly and BitGo remains committed to our mission to deliver trust in digital assets,” the company said in a post on Twitter. It said the decision came “after considerable effort and work to find a path forward.”
BitGo Holdings said earlier this month that it had signed a non-binding term sheet to acquire 100% of the equity of Prime Core Technologies, the parent company of Prime Trust. The company said the deal would bring business continuity and long-term stability to clients of Prime Trust.
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Source: https://www.theblock.co/post/236014/bitgo-says-its-terminating-acquisition-of-prime-trust?utm_source=rss&utm_medium=rss