Bitgo Raises $100 Million From Undisclosed Investors
Bitgo, a cryptocurrency company, has recently secured $100 million in a Series C funding round, although the identities of the investors have not been disclosed. Despite the challenging market conditions, Bitgo’s CEO, Mike Belshe, highlighted the company’s commitment to regulatory compliance and licensing. Belshe emphasized the importance of regulatory safety in the cryptocurrency industry.
Key Points:
- Bitgo raised $100 million in a Series C funding round.
- The identities of the investors have not been revealed.
- Bitgo’s CEO emphasized the company’s focus on regulatory compliance and licensing.
- A portion of the funding will be used for future acquisitions.
- Past investors in Bitgo include Pantera Capital, Digital Currency Group, Redpoint, Goldman Sachs, and DRW Holdings.
Bitgo’s recent funding round follows the cancellation of a potential acquisition by Galaxy Digital, which had offered $1.2 billion. Bitgo had also previously considered acquiring Prime Trust, a struggling crypto custodian, but the deal fell through. Despite this setback, Belshe mentioned that some of the new funding will be used for future acquisitions, hinting at two potential buyouts already in progress. While the investors for this funding round remain undisclosed, Bitgo’s previous backers have included major names in the industry.
Hot Take: Regulatory Considerations and Acquisitions Drive Bitgo’s Funding Success
Bitgo’s ability to secure $100 million in funding demonstrates the continued interest and support in the cryptocurrency industry. The company’s emphasis on regulatory compliance and licensing is crucial for building trust and ensuring the safety of investors. The funds will not only support Bitgo’s operations but also pave the way for potential acquisitions, allowing the company to expand its services and solidify its position in the market.
By
By
By
By
By