Mike Novogratz, a cryptocurrency merchant bank Galaxy Digital, has opted out of acquiring custody service provider BitGo. This is stated in the press release.

According to the statement, an agreement has been reached for the transfer of the financial statements for 2021 by the custodian. By the deadline (July 31, 2022), the company did not provide the necessary documents.

“We are considering continuing our US listing process and [дальше] to provide the best solution to customers”.

Galaxy Digital representatives added that no penalties are foreseen in connection with the termination of the contract.

In April 2021, the media reported on the takeover talks of Mike Novogratz’s bank with BitGo. Later, the parties confirmed the information and announced the amount of the transaction – about $ 1.2 billion in shares and cash.

Recall that in the second quarter of 2022, the total loss of Galaxy Digital was $ 554.7 million. The company confirmed its commitment to restructuring plans with registration in the state of Delaware (USA) and its intention to acquire a stock listing on the Nasdaq.

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