{"id":492681,"date":"2022-09-13T17:03:32","date_gmt":"2022-09-13T14:03:32","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitgo-sues-galaxy-digital-for-acquisition-breach-seeks-100m-in-damages\/"},"modified":"2022-09-13T17:03:32","modified_gmt":"2022-09-13T14:03:32","slug":"bitgo-sues-galaxy-digital-for-acquisition-breach-seeks-100m-in-damages","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitgo-sues-galaxy-digital-for-acquisition-breach-seeks-100m-in-damages\/","title":{"rendered":"# BitGo sues Galaxy Digital for acquisition breach, seeks $100M in damages"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3e3a6b3dd25\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3e3a6b3dd25\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitgo-sues-galaxy-digital-for-acquisition-breach-seeks-100m-in-damages\/#%E2%80%9D_BitGo_sues_Galaxy_Digital_for_acquisition_breach_seeks_100M_in_damages_%E2%80%9C\" >&#8221; BitGo sues Galaxy Digital for acquisition breach, seeks $100M in damages &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_BitGo_sues_Galaxy_Digital_for_acquisition_breach_seeks_100M_in_damages_%E2%80%9C\"><\/span>&#8221; BitGo sues Galaxy Digital for acquisition breach, seeks $100M in damages &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDkvOGFhMDRlMDctZDJjYS00MWViLWFiMmYtN2QxMDA4NzA0YTNhLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-71846793>Digital asset custodian BitGo has filed a lawsuit against Mike Novogratz\u2019s cryptocurrency investment firm Galaxy Digital for terminating the former&#8217;s acquisition.<\/p>\n<p>BitGo took to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> on Tuesday to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BitGo\/status\/1569643232262516737?s=20\">disclose<\/a> details of its lawsuit against Galaxy after the latter terminated the $1.2 billion acquisition deal with BitGo in mid-August.<\/p>\n<p>Filed on Monday, the lawsuit seeks more than $100 million in damages, accusing Galaxy of \u201cimproper repudiation\u201d and \u201cintentional breach\u201d of its acquisition agreement with BitGo, the firm said.<\/p>\n<p>BitGo said they filed the lawsuit with Delaware Chancery Court, stressing that the court documents are expected to become public on Thursday evening. That is in \u201can abundance of caution\u201d in the event Galaxy wants to \u201credact some of the allegations before the complaint becomes public,\u201d BitGo noted in a tweet.<\/p>\n<p>As previously reported, Galaxy terminated the BitGo acquisition on Aug. 15. The company argued that it exercised its right to drop the deal in line with the merger agreement after BitGo failed to deliver audited financial statements for 2021.<\/p>\n<p>Galaxy CEO Novogratz said that it was still pursuing its path to the United States listing on Nasdaq. Galaxy also stated that they plan to vigorously defend the firm in a potential case as Galaxy believed that BitGo\u2019s claims were \u201cwithout merit.\u201d<\/p>\n<p>BitGo and Galaxy did not immediately respond to Cointelegraph\u2019s request for comment.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>CleanSpark acquires mining facility in Georgia for $33 million<\/em><\/strong><\/p>\n<p>The <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> comes amid BitGo continuing to develop more products and services. The company on Tuesday <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/blog.bitgo.com\/introducing-bitgos-platform-for-wealth-management-95900cb03ce0\">announced<\/a> the launch of its Wealth Management platform, aiming to allow registered investment advisors and broker-dealers to have direct access to digital assets.<\/p>\n<p>Founded in 2013, BitGo is a major global digital currency firm focusing exclusively on serving institutional clients, providing custody, liquidity, and security solutions. Last year, the firm <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.businesswire.com\/news\/home\/20211115005834\/en\/BitGo-Announces-Over-64-Billion-in-Assets-Under-Custody-and-Appoints-Cassandra-Lentchner-as-President-of-BitGo-Trust-Companies.\">reported<\/a> over $64 billion in assets under custody.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitgo-sues-galaxy-digital-for-acquisition-breach-seeks-100m-in-damages\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; BitGo sues Galaxy Digital for acquisition breach, seeks $100M in damages &#8220; Digital asset custodian BitGo has filed a lawsuit against Mike Novogratz\u2019s cryptocurrency investment firm Galaxy Digital for terminating the former&#8217;s acquisition. BitGo took to Twitter on Tuesday to disclose details of its lawsuit against Galaxy after the latter terminated the $1.2 billion&#8230;<\/p>\n","protected":false},"author":1,"featured_media":492682,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDkvOGFhMDRlMDctZDJjYS00MWViLWFiMmYtN2QxMDA4NzA0YTNhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[76825,74863,82376,117,71433,55229,70934],"class_list":["post-492681","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitgo","tag-cryptocurrencies","tag-michael-novogratz","tag-business","tag-court","tag-law","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/492681","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=492681"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/492681\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/492682"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=492681"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=492681"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=492681"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}