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According to Galaxy Digital, Bitgo had failed to produce audited 2021 financial statements in a timely manner. Galaxy Digital, therefore, will not have to pay a termination fee, the company said. Previously, Galaxy Digital would've had to pay about $100m if the deal did not close by this year.
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"Galaxy remains positioned for success and to take advantage of strategic opportunities to grow in a sustainable manner. We are committed to continuing our process to list in the U.S. and providing our clients with a prime solution that truly makes Galaxy a one-stop shop for institutions," said Mike Novogratz, CEO and Founder of Galaxy.
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