Galaxy Digital to Buy BitGo in Crypto Sector’s First $1 Billion Deal

(WSJ) Bitcoin-focused firm Galaxy Digital Holdings Ltd. has agreed to buy BitGo Inc. for $1.2 billion in cash and stock, the first $1 billion deal in the cryptocurrency industry.

The deal coincides with a surge in interest and a nearly yearlong rally in the crypto sector whose market value has surged to $2 trillion.

The acquisition will make Galaxy Digital a crypto-focused financial-services firm with more than $40 billion in assets under custody.

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