The crypto world may get its own Elon Musk vs. Twitter-esque legal battle! Well, it might not be quite as grand, but here it is: BitGo, a crypto custodian and financial services platform for institutional investors, is threatening to sue a much larger crypto financial services firm, Galaxy Digital, after the latter pulled out of last year’s $1.2 billion deal to acquire BitGo.
It’s worth unpacking why Galaxy founder and CEO Mike Novogratz—who, like Musk, is a larger than life character, Luna-token tattoo and all—may have backed out of this deal. Both sides have differing stories.
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