BitGos Prime Trust Acquisition Cancelled – Whats Next for the Crypto Giant?

By Lola Coin Jun 26, 202367Views

, ,

BitGo CEO Mike Belshe announced that the cryptocurrency custodian has other pending acquisitions in the works, despite the recent decision to abandon the acquisition of Prime Trust. The termination of the Prime Trust acquisition has raised concerns about the financial troubles of the target company. Prime Trust has faced challenges such as workforce reductions, layoffs, and bankruptcy filings. It has also experienced a loss of clients and deposits to competitors. BitGo was previously close to being acquired by Galaxy Digital but canceled the deal. Coinbase is seen as a potential suitor in the custody sector. BitGo is actively engaged in discussions with various entities in the industry.

Continue reading on Bitcoinist.com

Read Disclaimer

This content is aimed at sharing knowledge, it's not a direct proposal to transact, nor a prompt to engage in offers. Lolacoin.org doesn't provide expert advice regarding finance, tax, or legal matters. Caveat emptor applies when you utilize any products, services, or materials described in this post. In every interpretation of the law, either directly or by virtue of any negligence, neither our team nor the poster bears responsibility for any detriment or loss resulting. Dive into the details on Critical Disclaimers and Risk Disclosures.