Galaxy Digital (GLX) To Acquire Leading Crypto Firm BitGo in 2022, Dominating Security for Cryptocurrencies

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Galaxy Digital (GLX) To Acquire Leading Crypto Firm BitGo in 2022, Dominating Security for Cryptocurrencies

In May, Galaxy Digital initiated its acquisition of BitGo and expects to close the deal in the first quarter of 2022. Galaxy Digital Holdings, Mike Novogratz’s cryptocurrency investment company, plans not to go public in the United States in late 2021.

CEO and founder of Galaxy Digital, Novogratz, announced Monday that the company has postponed its plan to list in the United States, now expecting to go public in the first quarter of 2022.

“They were looking forward to our U.S. listing and the closing of our BitGo acquisition, which they expect to occur in the first quarter of 2022,” he said.

Galaxy Digital has not yet been approved for listing on an American exchange by the U.S. Securities and Exchange Commission, Galaxy reportedly said.

After initiating the acquisition earlier this year, Novogratz’s cryptocurrency investment manager is still in the process of closing the acquisition of cryptocurrency custodian BitGo. The deal is expected to close in the first three months of 2022.

It was announced in May that Galaxy Digital would list in the U.S., with Novogratz anticipating the company will go public in the U.S. in the second half of 2021.

Cointelegraph contacted Galaxy Digital for comment, but it did not respond immediately. As one of the largest companies in the crypto space, Galaxy Digital has already been listed on a major Canadian stock exchange.

A month after acquiring local crypto startup Coin Capital, the company listed on the TSX Venture Exchange for the first time.

The stock of Galaxy Digital is trading at $41 at the time of writing, up around 0.2% in the last 24 hours. Galaxy Digital shares have been experiencing significant gains, recently, surpassing $40 for the first time last week.

–  Galaxy Digital (GLX) Stock – Technical Analysis

In addition to announcing Q3 financial results on Monday, Galaxy Digital announced the news.As of October 2021, Galaxy Digital reported a net comprehensive income of $517 million, up from $42 million over the same period last year. The company also reported managing $3.2 billion in assets.

Via this site.


Chris Munch

Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.