Shutterstock
Main page News, Wallet, Crypto Market

Mike Novogratz’s cryptocurrency-focused financial company, Galaxy Digital, is in talks to buy BitGo, a cryptocurrency custodian, CoinDesk has learned, citing four people familiar with the matter. According to one source, Galaxy Digital does not do custody "so it makes sense to bring that in-house."

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

While details of a potential deal remain unknown, talks are ongoing and the discussions could still fall apart. Representatives for Galaxy Digital and BitGo declined to comment.

BitGo Hodls $250M in Bitcoin on Balance Sheet

In December last year, PayPal terminated acquisition talks with BitGo. While the reason remains unknown, BitGo CEO Mike Belshe said that the custodian is currently not profitable, as it is in "growth mode."

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

Read also:
Strawberry Cake Media Corp. © 2024 Cookie Policy Editorial team Archive

ihodl.com is an illustrated edition about cryptocurrencies and financial markets.
Every day we publish the best materials for everyone interested in economy.