The acquisition is scheduled to follow Galaxy's domestication in Delaware, which is expected to become effective between Q2 and Q4 of 2022.
Cryptocurrency investment firm Galaxy Digital has not managed to finalize the acquisition of the digital asset custodian BitGo in the first quarter of 2022 as the firm originally planned.Galaxy Digital has made some changes to the terms of its acquisition of BitGo, CEO Mike Novogratz announced in an earnings call on Thursday.“We’ve adjusted the deal some, for progress that BitGo has made,” Novogratz said, noting that BitGo has hired about 150 people since the firms originally signed the deal in May last year.He added that Galaxy remains committed to “integrating BitGo and becoming an institutional crypto platform” and the companies will continue to work on integration.According to an official statement, Galaxy Digital and BitGo have renegotiated the acquisition to happen “immediately following” the domestication of Galaxy Digital as a Delaware corporation.