The proposed acquisition was the global crypto industry’s first $1 billion deal.
“Galaxy remains positioned for success and to take advantage of strategic opportunities to grow in a sustainable way,” said
“We are committed to continuing our process to the list in the US and providing our customers with an excellent solution that truly makes Galaxy a one-stop shop for institutions,” he added.
No termination fee is payable in connection with the decision.
Galaxy Digital said it plans to finalize its proposed reorganization and domestication to become a Delaware-based company, then list it.
“Galaxy remains focused on executing its business goals and driving long-term performance for investors. That includes the planned rollout of Galaxy One Prime,” it said.
Galaxy Digital reported a loss of $554.7 million in the second quarter, up from a loss of $183 million a year ago, amod the global crypto meltdown.
BitGo company provides a multi-signature bitcoin wallet service, where keys are distributed among a number of owners to manage risk.
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