Galaxy’s Novogratz and BitGo face off in court over $100 million claim: Bloomberg

Key takeaways

• 1Galaxy abandoned its BitGo acquisition in 2022 citing BitGo's failure to deliver audited 2021 financial statements.
• 2Galaxy and BitGo are now in court battle over a $100 million claim related to the failed deal.
• 3The dispute centers on contractual obligations and financial disclosure requirements between the two crypto firms.

Why it matters

This legal battle highlights regulatory and compliance risks in crypto M&A deals, signaling Indian investors that even major firms face disputes over financial transparency. The case underscores the importance of due diligence and audited financials in crypto sector consolidation.