TheBlock
2022-08-16 17:23:55

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

Quick TakeThis is part of The Block Research’s Market Commentary seriesGalaxy 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 tradingToday, August 16th, Galaxy is currently trading at $6.05 / share, an (11.7%) 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.

Get Crypto Newsletter
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.