BitGo terminates plans to buy Prime Trust
Digital assets custodian BitGo, will not be going forward with its planned acquisition of its rival crypto custody platform Prime Trust. BitGo announced the termination of the purchase of Prime Trust via Twitter on June 22. Although the company did not state a reason for breaking off the acquisition deal, BitGo stated that the decision “was not made lightly and BitGo remains committed to our mission to deliver trust in digital assets.” You might also like: US Court grants Galaxy Digital victory, dismisses $100m BitGo lawsuit After considerable effort and work to find a path forward with Prime Trust, BitGo has made the hard decision to terminate its acquisition of Prime Trust. This decision was not made lightly and BitGo remains committed to our mission to deliver trust in digital assets. — BitGo (@BitGo) June 22, 2023 The termination comes only two weeks after BitGo initially announced that it would purchase the company. On June 8, BitGo said it signed...