Galaxy Digital and BitGo Clash in Court Over Failed $1.2 Billion Crypto Merger
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BitGo and Galaxy Digital are litigating in Delaware Chancery Court over the collapse of a $1.2 billion acquisition that would have been the largest crypto merger, with BitGo saying Galaxy backed out in 2022. BitGo is seeking at least $100 million in damages, underscoring legal and reputational risk for crypto M&A and potential market impact on industry consolidation and fundraising.
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BitGo and Galaxy Digital are continuing their courtroom battle over the collapse of a $1.2 billion acquisition agreement that was once expected to become the largest merger in the crypto industry.
During proceedings this week in Delaware Chancery Court, BitGo argued that Galaxy backed out of the transaction in 2022 and is now seeking at least $100 million in damages, according to Bloomberg.
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