Tag: galaxy digital

Sep 14 2022

BitGo Slaps Galaxy Digital With $100 Million Suit After Scrapping Buyout Deal

BitGo, a California-based digital asset financial services company, posted a tweet confirming the $100-million lawsuit against Galaxy Digital for breaching its $1.2 billion-merger agreement. The complaint was filed yesterday in the Delaware Chancery Court with Attorney Brian Timmons to provide ample time for Galaxy Digital to respond or cite critical information on the matter. Details of the complaint will be disclosed to the...

Sep 13 2022

BitGo Sues Galaxy Digital For Over $100 Million

Sep 13 2022 Published at Coingape under tags  bitgo galaxy digital news

BitGo, digital asset trust and security firm, is suing Galaxy Digital for pulling out of a previously announced acquisition deal. The legal complaint is the firm's response to Galaxy Digital's recent decision to terminate the merger. BitGo is seeking over $100M in damages BitGo's official Twitter handle disclosed the move... Read more

BitGo sues Galaxy Digital for $100M over broken merger agreement

Sep 13 2022 Published at CryptoSlate under tags  bitgo galaxy digital legal partnerships

Cryptocurrency staking firm BitGo filed a lawsuit against Galaxy Digital on Sept. 12 seeking damages of over $100 million for breaching the merger agreement, BitGo announced on Twitter. Late yesterday, BitGo filed a lawsuit against Galaxy Digital seeking damages of more than $100 million arising from Galaxy’s improper repudiation and intentional breach of its...

Aug 30 2022

Galaxy Digital And Genesis Trading Top Officials File For $500 Million Crypto Fund

Summary: A new SEC filing revealed a $500 million crypto fund dubbed DBA Crypto Fund I LP. Top executives from Convex, Galaxy, and Genesis spearhead the fund, per details from the filing. The massive fund could serve as an extra lifeline for Galaxy Digital and Genesis Trading. Both firms recently recorded hefty losses following a slump in crypto asset prices and exposure to...

Aug 16 2022

Galaxy Digital faces $100M lawsuit from BitGo over breach of contract

Aug 16 2022 Published at Coinscreed under tags  bitgo galaxy digital news

BitGo, a digital asset custodian is suing Galaxy Digital for more than $100 million as part of a "reverse break fee" for terminating an acquisition agreement. In a blog post on Monday, BitGo referred to Galaxy's conduct as "improper," accusing it of breach of contract for canceling a deal to buy the custodian of digital […] The post...

Aug 15 2022

BitGo to Sue Galaxy Digital for $100M Termination Fee

Aug 15 2022 Published at Crypto Briefing under tags  bitgo business galaxy digital

Institutional crypto services company BitGo intends to seek legal action against crypto investment firm Galaxy Digital for refusing to pay a $100 million termination fee for abandoning its acquisition plans....

Galaxy Digital Back Pedal On $1.2 Billion Deal For BitGo Acquisition, BitGo To Seek $100 Million In Damages

Galaxy Digital has announced that it's backing out of its $1.2 billion proposed acquisition of the cryptocurrency custodian, BitGo. Galaxy Digital Backs Out Of BitGo Deal A $1.2 billion acquisition of Palo Alto, California- based BitGo by digital asset investment firm Galaxy Digital has been canceled, ending one of the biggest acquisitions in cryptocurrency history. In a press release, Galaxy Digital stated that it...

Aug 09 2022

Bitcoin Not Going to $30,000 Anytime Soon, Says Galaxy Digital CEO Mike Novogratz

Founder of Galaxy Digital and billionaire cryptocurrency investor Mike Novogratz expects Bitcoin to remain range bound for a while after the recent price pump. He believes that Bitcoin is not going past $30,000 anytime...

Jul 07 2022

Voyager users unlikely to recover 100% of funds

Voyager users might not get all of their funds back because the crypto lending company has declared bankruptcy, Bloomberg News reported. According to the...

Jun 09 2022

Galaxy Digital’s Mike Novogratz Warns that 66% of Crypto Hedge Funds Will Go Out of Business

Key takeaways: Galaxy Digital's Mike Novogratz has said that two-thirds of crypto hedge funds will fail. Mr. Novogratz cited the ongoing global macroeconomic environment as the core reason 66% of crypto hedge funds will go out of business. He also pointed out that the recent market sell-off due to UST's collapse is an additional factor toward crypto hedge funds closing shop. Galaxy Digital's...

May 19 2022

Galaxy Digital’s Mike Novogratz Says His Terra (LUNA) Tattoo Will Be a Constant Reminder that Venture Investing Requires Humility

Quick takeaways: Mike Novogratz has confirmed he will be keeping his Terra (LUNA) tattoo. He explained that the tattoo will be a constant reminder that venture investing requires humility. Mr. Novogratz made the confirmation in a Galaxy Digital letter to shareholders, friends, partners, and the crypto community. According to his analysis, the flash crash of LUNA and UST reinforces the core tenets of...

Mike Novogratz Speaks: Terra’s UST Was “A Big Idea That Failed”

After 10 long days, Mike Novogratz broke his silence on the Terra/ Luna situation. Considering that he was one of the protocol’s main proponents and even got a Luna tattoo, the community’s interest in Novogratz's opinion is justified. “My tattoo will be a constant reminder that venture investing requires humility,” Galaxy Digital’s CEO said...

May 10 2022

No Love For Mike: Galaxy Digital Loses $111 Million Amid Crypto Blood Bath

Galaxy Digital, a cryptocurrency-focused financial services corporation, reported a net loss of $111.7 million for the quarter ending March 31, 2022. Galaxy Digital Takes Hit In the first quarter of 2022, Galaxy Digital, a cryptocurrency investment firm led by billionaire Michael Novogratz, recorded a loss of $111.7 million. The deficit is a considerable fall from the...

Mar 21 2022

Goldman Sachs Partners With Galaxy Digital For First Bitcoin Options Trade

Goldman Sachs, facilitated by Galaxy Digital, purchased an over-the-counter options contract to be cash-settled, that is tied to the price of bitcoin.Goldman Sachs initiates its first bitcoin options trade with the help of Galaxy Digital. The options trade was a non-deliverable, over-the-counter contract that allows the purchaser to cash-settle for price volatility in bitcoin. Galaxy...

Goldman Sachs completes first OTC Bitcoin options trade with Galaxy Digital

Goldman Sachs executed its first-ever over-the-counter crypto options trade earlier today, marking an important milestone in the expansion of its digital asset offering. The U.S. bank announced that it was exploring the provision of bilateral...

Breaking: Goldman Sachs To Offer Over-The-Counter Crypto Options- Report

Goldman Sachs is close to announcing that it is the first major U.S. bank to trade an over-the-counter (OTC) crypto instrument, a recent report said. The firm reportedly traded a Bitcoin-linked instrument with crypto bank Galaxy Digital. An OTC transaction is one that takes place directly over a private broker-dealer network, instead of a centralized...

Mar 18 2022

Bitcoin Mining Pool Protocol Stratum V2 Is Making Progress

If widely adopted, this mining pool protocol could help Bitcoin become more robust and decentralized.The below is a direct excerpt of Marty's Bent Issue #1179: "Stratum V2 progress spotted in the wild." Sign up for the newsletter here....

Mar 16 2022

Bitcoin (BTC) Back to $41,000, Here’s Why Retail Investors Should NOT Buy Yet

Just a day before the Federal Reserve plans to announce its first rate hike in four years, Bitcoin (BTC) makes a surprising move to the north. As of press time, Bitcoin is trading 5% up above $41,000. This is for the third time in three weeks that Bitcoin has made a move back above $40,000....

Mar 10 2022

Goldman Sachs Will Now Offer Its Clients Ethereum Funds Via Galaxy Digital

Goldman Sachs will be offering its clients access to Ethereum Funds through Galaxy Digital's Institutional Ethereum Fund. This was reported from the regulatory documents filed with the U.S Securities and Exchange Commission (SEC). The SEC also displayed that it had listed Goldman Sachs as a...

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