Galaxy and BitGo Face Off in Court Over $100 Million Termination Fee Dispute This Week

According to Bloomberg, Galaxy Digital founder Michael Novogratz and BitGo CEO Mike Belshe faced off in court this week over a $100 million termination fee dispute stemming from a failed 2021 acquisition deal. BitGo is demanding Galaxy pay at least $100 million in breach damages, alleging that Galaxy failed to exercise reasonable efforts to complete the transaction and concealed details of U.S. regulatory investigations that could have materially impacted the merger. The 2021 acquisition was valued at $1.2 billion, making it the largest crypto industry deal at the time, before collapsing amid market turmoil.
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