Galaxy Digital Back Pedal sou kontra $ 1.2 milya dola pou akizisyon BitGo, BitGo pou chèche $ 100 milyon dola nan domaj

By Bitcoinist - 1 year ago - Reading Time: 3 minutes
Lendi, 15 Out, 2022 6:44 PM

Galaxy Digital Back Pedal sou kontra $ 1.2 milya dola pou akizisyon BitGo, BitGo pou chèche $ 100 milyon dola nan domaj

Galaxy Digital te anonse ke li ap fè bak nan akizisyon 1.2 milya dola li yo pwopoze nan gadyen cryptocurrency a, BitGo.

Yon akizisyon $1.2 milya dola nan Palo Alto, Kalifòni ki baze sou BitGo pa konpayi envestisman byen dijital Galaxy Digital te anile, mete fen nan youn nan akizisyon yo pi gwo nan istwa cryptocurrency.

In a press release, Galaxy Digital stated that it is ending the agreement because the cryptocurrency custody company was unable to deliver the audited financial statements that were due by the end of the previous month.

Mike Novogratz, CEO ak fondatè Galaxy Digital te di:

"Galaxy rete pozisyone pou siksè ak pwofite opòtinite estratejik yo grandi nan yon fason dirab. Nou pran angajman pou nou kontinye pwosesis nou pou lis Ozetazini epi bay kliyan nou yo yon solisyon prensipal ki vrèman fè Galaxy yon sèl-stop shop pou enstitisyon yo.”

The M&A transaction would have been one of the biggest ever in the industry. The largest cryptocurrency transaction, according to Crunchbase data, involved the e-commerce startup Bolt purchasing the crypto and payment infrastructure business Wyre for $1.5 billion in April.

When the cryptocurrency industry was only getting started in May of last year, the proposed Digital Galaxy/BitGo agreement was disclosed. Digital assets, however, have had a very different year than last, with Bitcoin alone down about 65% from its November highs.

Objektif kontra a se te ogmante rive mache Galaksi a kòm yon platfòm pou sèvis finansye ak yon konsantre kriptografik lajan. Galaxy Digital ta te benefisye anpil nan akizisyon ki te planifye a, ki ta pozisyone biznis la kòm yon platfòm jesyon bout-a-fen ak sèvis gad eksepsyonèl ak sekirite siperyè. Anplis plis sèvis gad pou kliyan enstitisyonèl yo, akizisyon an ta ofri tou sèvis bankè envestisman, taks ak sèvis konfòmite regilasyon, ak plis ankò.

Nan moman sa a, Mike Novogratz, fondatè ak chèf egzekitif Galaxy Digital, te di nan moman sa a "akizisyon BitGo etabli Galaxy Digital kòm yon sèl-stop-boutik pou enstitisyon yo epi akselere anpil misyon nou pou enstitisyonalize ekosistèm byen dijital ak teknoloji blockchain.

Li te di ke li ta peye 265 milyon dola nan lajan kach pou akizisyon an epi bay 33.8 milyon aksyon pou fè sa. Apre sa, aksyonè BitGo pral posede 10% nan biznis la.

By the end of March, Galaxy reported a delay in the acquisition while the two parties reworked the agreement to give BitGo owners a roughly 12% stake in the merged company.

The announcement comes in the wake of Galaxy’s second-quarter results, which showed a net comprehensive loss of $554.7 million due to reductions in the value of digital assets. Nevertheless, according to the earnings call, the company continued to have a strong $1.5 billion liquidity position as of June 30, 2022.

In response, BitGo has threatened to sue Galaxy Digital for $100 million in damages. In a statement shared with The Block, BitGo said:

"Li gen entansyon pran aksyon legal kont Galaxy Digital pou move desizyon li pran pou mete fen nan akò fizyon an ak BitGo, ki pa te pwograme pou ekspire jiska 31 desanm 2022, pi bonè epi li pa peye $100 milyon dola frè ranvèse li te pwomèt la. tounen nan mwa mas 2022 yo nan lòd yo pwovoke BitGo pwolonje akò fizyon an.

BitGo te kenbe kabinè avoka Quinn Emanuel, dapre deklarasyon laprès li yo. "Tantativ Mike Novogratz ak Galaxy Digital pou blame revokasyon an sou BitGo se absid," patnè R. Brian Timmons te di nan yon deklarasyon.

Sous orijinal: Bitcoinse