Tag: BitGo

Why Galaxy Digital bought BitGo

Quick Take Mike Novogratz, CEO of Galaxy Digital, sees custody as crucial to the “full stack” of crypto financial services. Acquiring BitGo also gives Galaxy the technical talent it needs to build its own blockchain applications, he says. This feature story is available to subscribers of The Block Daily. You can continue reading this Daily […]

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Galaxy Digital to acquire crypto custodian BitGo for $1.2 billion

Mike Novogratz’s crypto merchant bank Galaxy Digital is set to acquire crypto custodian BitGo for $1.2 billion. Announcing the news on Wednesday, Galaxy Digital said the deal would be made up of a mix of stock and cash — $265 million in cash and the rest in 33.8 million newly issued shares of Galaxy Digital. […]

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Breaking: Galaxy Digital to Acquire Leading Crypto Custodian BitGo for $1.2 Billion

Galaxy Digital Holdings, the crypto investment firm founded by Wall Street veteran Mike Novogratz is making a bold move in the crypto space. In a recent development, the cryptocurrency financial services provider announced the acquisition of the world’s leading crypto custodian BitGo. As per Galaxy Digital, this acquisition will provide the firm with major mileage […]

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USMS awards BitGo a $4.5M contract to help it hold and auction seized crypto

BitGo has won a contract with the U.S. Marshals Service (USMS) to help the law enforcement agency retain and sell seized cryptocurrency. The USMS contracted BitGo for just over $4.5 million. The notice sought a provider that could account for possible network forks, airdrops and wallet management in addition to basic custody; the agency found […]

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BitGo’s $700 million crypto custody insurance program: what it means and why it matters

Digital asset custodian BitGo announced Wednesday that it has secured a total of $700 million in insurance coverage for the assets in custody in cold storage. This is an important milestone in the continued mainstream adoption of bitcoin and other digital assets.   That top-line figure represents an addition of $600 million in capacity to the […]

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KPMG, Coin Metrics and BitGo offer combined product suite to further institutional crypto adoption

Auditing giant KPMG and crypto data firm Coin Metrics are enabling BitGo clients to monitor public blockchain network risks. The three firms are together delivering a combined suite of their products — and the idea is to further crypto adoption by institutions and banks. Coin Metrics and KPMG began working together on institutional crypto adoption […]

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Former Coinbase compliance chief Jeff Horowitz joins BitGo

Former Coinbase compliance chief Jeff Horowitz joins BitGo

Crypto firm BitGo has hired former Coinbase compliance chief Jeff Horowitz as it seeks a trust charter from New York state regulators. Horowitz joined BitGo earlier this month and replaces Matt Parrella, who left the firm in November, according to his LinkedIn. Horowitz will head BitGo’s compliance and risk programs. Last August, BitGo applied for […]

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BitGo settles with US Treasury over sanctions violations

BitGo settles with US Treasury over sanctions violations

Crypto firm BitGo has settled with the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) for apparent violations of sanctions programs. According to OFAC, BitGo failed to prevent persons located in sanctioned jurisdictions, such as Crimea, Cuba, Iran, Sudan, and Syria, to open accounts and use its “hot wallet” services. The apparent violations occurred […]

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