Galaxy Digital Back Pedal Pamadhora 1.2 Bhiriyoni Chibvumirano cheBitGo Kuwana, BitGo Kutsvaga madhora zana Mamirioni Mukukuvadza

By Bitcoinist - 1 gore rapfuura - Nguva yekuverenga: 3 maminitsi
Mon, Aug 15, 2022 6:44 PM

Galaxy Digital Back Pedal Pamadhora 1.2 Bhiriyoni Chibvumirano cheBitGo Kuwana, BitGo Kutsvaga madhora zana Mamirioni Mukukuvadza

Galaxy Digital yakazivisa kuti iri kutsigira kunze kwayo $ 1.2 bhiriyoni akaronga kutora ari cryptocurrency muchengeti, BitGo.

A $ 1.2 bhiriyoni kutora Palo Alto, California-based BitGo kubudikidza digitaalinen inivhesitimendi kambani Galaxy Digital yakanzurwa, kupedza imwe huru acquisitions mu cryptocurrency nhoroondo.

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 uye muvambi weGalaxy Digital akati:

“Galaxy inoramba yakamisikidzwa kuti ibudirire uye kushandisa mikana yakarongeka yekukura nenzira inoenderera. Takazvipira kuenderera mberi nehurongwa hwedu hwekunyora muUS uye nekupa vatengi vedu mhinduro yepamusoro inoita kuti Galaxy ive chitoro chimwe chete chemasangano. "

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.

Chinangwa chechibvumirano chaive chekuwedzera musika weGalaxy senzvimbo yemasevhisi emari ine cryptocurrency inotarisa. Galaxy Digital ingadai yakabatsirwa zvikuru kubva pakurongwa kwekutora, iyo ingadai yakaisa bhizinesi senzvimbo yekupedzisira-yekupedzisira manejimendi ane akasarudzika masevhisi ekuchengetedza uye yepamusoro-notch chengetedzo. Pamusoro pemamwe masevhisi ekuchengetedza vatengi vemasangano, kutora kwacho kungadai kwakapawo mari yekubhengi, mutero uye masevhisi ekuteerera, nezvimwe.

"Kutorwa kweBitGo kunotanga Galaxy Digital senzvimbo imwe chete yekumisa-zvitoro uye inomhanyisa zvakanyanya basa redu rekuisa dhijitari ecosystems uye blockchain tekinoroji," Mike Novogratz, muvambi uye mukuru mukuru weGalaxy Digital, akadaro panguva iyoyo.

Yakaburitsa pachena kuti ichabhadhara $265 miriyoni mumari yekutora uye kupa 33.8 miriyoni migove kuita izvi. Mushure meizvi, vagoveri veBitGo vachave vane 10% yebhizimisi.

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:

"Inoda kutora matanho emutemo kupokana neGalaxy Digital nekuda kwechisarudzo chayo chisina kunaka chekumisa chibvumirano chekubatanidza neBitGo, iyo yanga isina kurongerwa kupera kusvika Zvita 31, 2022, pakutanga uye kusabhadhara $100 miriyoni yekudzosera mari yayakanga yavimbisa. kudzoka munaKurume 2022 kuitira kukurudzira BitGo kuwedzera chibvumirano chekubatanidza.

BitGo yakachengetedza kambani yemutemo Quinn Emanuel, maererano neshoko rayo repepanhau. "Kuedza kwaMike Novogratz neGalaxy Digital kupomera kugumisa paBitGo hakuna musoro," mumwe mubatsiri R. Brian Timmons akadaro mukutaura.

Original source: Bitcoinndiko