Analysis of Galaxy Digital’s $1.2bn Acquisition of BitGo
Quick Take
- This is part of The Block Research’s Market Commentary series
- Galaxy 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 trading
- Today, 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.
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Author: Greg Lim
