Mike Novogratz's Galaxy Digital near deal for BitGo - Coindesk

Fans will remember crypto custody specialist BitGo as nearly sold to PayPal last year, but the deal (reportedly for $750M in cash) fell through.Coindesk this afternoon is now reporting BitGo as in advanced discussions with crypto merchant bank Galaxy Digital ([[BRPHF]] +3.5%). "Galaxy does not do custody so it makes sense to bring that in-house," says one source.Silicon Valley-based BitGo has previously raised nearly $70M in funding rounds, including an investment from Galaxy Digital.PayPal earlier this year ended up purchasing Curv, another crypto custody player.