Crypto custody firm BitGo is acquiring the institutional trading business of bitcoin-focused financial services company NYDIG in a deal worth up to $57.5 million, strengthening its position in the growing institutional cryptocurrency market. According to a regulatory filing on Friday, BitGo will purchase NYDIG IF Holdings for $42.5 million in cash and stock. The initial consideration includes $7 million in cash and approximately $35.5 million in BitGo shares. NYDIG could receive an additional $15 million in cash if specified revenue milestones are achieved, along with potential additional… Read more
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