Galaxy Digital acquires BitGo in $1.2B stock and cash deal

Galaxy Digital Holdings (BRPHF) has acquired BitGo, independent digital assets infrastructure provider for $1.2B, consists of 33.8M of newly issued shares of Galaxy Digital and $265M in cash. "The acquisition of BitGo establishes Galaxy Digital as a one-stop-shop for institutions and significantly accelerates our mission to institutionalize digital asset ecosystems and blockchain technology," said Mike Novogratz, CEO and Founder of Galaxy Digital. "The power of the technology, solutions, and people we will have as a result of this acquisition will unlock unique value for our clients and drive long-term growth for our combined business. We are excited to welcome Mike Belshe and the talented BitGo team to Galaxy Digital." BitGo was the first independent regulated custodian, purpose-built for digital assets with over $40B of assets under custody, serving over 150 exchanges and over 400 institutional clients. Galaxy Digital will use its balance sheet to fund the cash consideration, a significant portion