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Galaxy and BitGo Sue Over Failed $1.2B Merger, BitGo Seeks $100M+ in Damages

GateNews
LUNA0.79%

According to Bloomberg, Galaxy Digital and BitGo are currently litigating over a failed 2022 merger valued at $1.2 billion, with BitGo seeking at least $100 million in termination fees. BitGo alleges Galaxy failed to take reasonable steps to advance the transaction.

The deal was originally intended to lead to a Nasdaq listing but was terminated following SEC accounting guidance adjustments and the Terra-Luna collapse, which triggered market liquidity issues.

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