Digital asset custody provider BitGo receives custody license from German regulators
On November 1st, digital asset custodian provider BitGo announced that it has been granted a cryptocurrency custody license by the Federal Financial Supervisory Authority (BaFin) of Germany. <br>
Hana Bank Partners with BitGo to Launch Crypto Asset Custody Business
KEB Hana Bank has reached a strategic partnership agreement with cryptocurrency custodian company BitGo to jointly promote cryptocurrency asset custody business.
Crypto custody provider BitGo secures $100M in Series C funding at $1.75B valuation
BitGo, a crypto custody solutions provider, has raised $100 million in a Series C round from new investors in the US and Asia, valuing the company at $1.75 billion. The funds will be used to expand its crypto custody services and infrastructure solutions through organic growth and acquisitions. BitGo's custody services are primarily aimed at institutional investors, and the company has already seen a 60% increase in new clients this year, with stake assets up 40x. <br>
BitGo Completes $100 Million Financing at $1.75 Billion Valuation
On August 16th, cryptocurrency custody company BitGo completed a $100 million financing round at a valuation of $1.75 billion. BitGo declined to disclose specific investors, but stated that they come from the United States and Asia, some of which are outside the cryptocurrency industry. This round of financing will be used for strategic acquisitions, with at least two transactions currently in progress.
BitGo is currently the custodian of FTX creditors, and its clients also include financial services company Swan Bitcoin, blockchain developer Mysten Labs, and clothing giant Nike.
BitGo Hires Former Genesis Managing Director to Head Newly Launched Go Network for Institutional Crypto Trading
BitGo, a cryptocurrency custody specialist, has hired Matthew Ballensweig to head up its newly launched Go Network. Ballensweig, who was formerly managing director of Genesis, will oversee the network, which allows hedge funds and other institutions to access trading liquidity at various exchanges without their assets ever leaving regulated custody. Ballensweig believes that Go provides the "bone-structure" for the next generation of institutional crypto trading.
Floki Announces Strategic Partnership with Major Custodian BitGo to Boost Credibility in Competitive Crypto Market
Floki, a cryptocurrency that emerged as a response to a tweet by Elon Musk, has formed a strategic partnership with BitGo, a major custodian in the crypto industry. BitGo's impressive portfolio of over $64 billion in assets under management is highlighted in the announcement.
BitGo CEO Reveals Plans for Multiple Acquisitions and Predicts Consolidation in Crypto Custody Space
June 27 (Cointime) - BitGo CEO Mike Belshe has revealed that the company has other pending acquisitions in the pipeline after abandoning the Prime Trust deal. He predicts consolidation in the crypto space over the next six months.
Trader Takes Advantage of TrueUSD's Temporarily Halted Mints and Redemptions to Initiate On-Chain Short Position
June 24 (Cointime) - A trader has taken advantage of TrueUSD's temporary halt on mints and redemptions through Prime Trust by initiating an on-chain short position.
BitGo Cancels Acquisition of Prime Trust, Leading to Suspension of Withdrawals
June 23 (Cointime) - BitGo, the US-based crypto custodian platform, has cancelled its acquisition of Prime Trust, leading to Prime Trust suspending withdrawals. The acquisition was intended to provide financial support to Prime Trust, which has been facing bankruptcy challenges. Prime Trust has also faced other challenges, including replacing its CEO and staff layoffs, and being targeted in lawsuits by crypto lending firm Celsius. TUSD issuer TrueUSD has assured its customers that it has no exposure to Prime Trust, while crypto exchange CoinMetro has had to suspend USD withdrawals as it uses Prime Trust as its payments partner.
BitGo Terminates Planned Acquisition of Crypto Custodian Prime Trust
June 22 (Cointime) - BitGo has announced that it will no longer be acquiring crypto custodian Prime Trust, just two weeks after the deal was announced.
