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Project Overview
BitGo is the digital asset company that has been exclusively focused on serving institutional clients since 2013. It provides institutional investors with custody, liquidity, and security solutions. Active in both centralized and decentralized finance, BitGo offers market-leading trading, lending, and borrowing services through its prime brokerage services and acts as the custodian for WBTC, the leading global stablecoin for Bitcoin.
BitGo acquires NYDIG institutional trading business for $42.5 million, expanding derivatives and financing services
Odaily News: Digital asset infrastructure company BitGo has announced the completion of its acquisition of NYDIG's institutional trading business. The transaction employs a two-step merger structure, with total consideration of approximately $42.5 million, including $7 million in cash and approximately $35.5 million in BitGo stock.The business brings approximately 30 NYDIG employees and institutional client relationships into BitGo, offering derivatives, structured products, financing, and capital markets solutions to asset management firms, hedge funds, corporations, and family offices.The transaction also includes performance-based incentive provisions, including a $10 million cash payment tied to a revenue milestone, up to $5 million in cash and additional shares tied to a second milestone, as well as retention incentives for transferred employees.NYDIG will focus on power generation, Bitcoin mining, and high-performance computing data center operations, with the company disclosing a development pipeline exceeding 3 gigawatts. BitGo recently completed its IPO on the New York Stock Exchange, with a post-issuance valuation of approximately $2 billion, and launched the USDS token. (Decrypt)
BitGo Announces Acquisition of NYDIG Institutional Trading Business
According to an official announcement from BitGo, the company has reached a definitive agreement with NYDIG to acquire its institutional trading business, adding capabilities in execution, derivatives, structured products, and financing to complement its existing federally regulated custody, settlement, and wallet infrastructure. NYDIG's institutional trading business serves institutional clients including asset management firms, hedge funds, corporations, and family offices.
BitGo Acquires NYDIG’s Institutional Trading Business and Related Assets
Odaily News: BitGo has announced the acquisition of NYDIG’s institutional trading business and related assets, incorporating derivatives, structured products, financing, and capital markets capabilities into its institutional platform. Approximately 30 NYDIG employees will join BitGo, and NYDIG’s institutional trading client relationships will also transfer to BitGo as part of the deal. BitGo will integrate the related business with its custody, trading, settlement, and wallet infrastructure. NYDIG will focus its resources on power generation, Bitcoin mining, and high-performance computing data center operations. NYDIG stated that its hash rate infrastructure development pipeline currently exceeds 3 gigawatts, with over 1 gigawatt expected to be ready for delivery in 2027 and 2028.
Consensys: Delays IPO Plans to Earliest This Fall Amid Market Conditions
according to sources familiar with the matter, MetaMask developer Consensys has postponed its U.S. IPO plans to earliest this fall. The company originally planned to submit a draft S-1 filing with the SEC by the end of February, but market demand weakened due to the market downturn in February, macroeconomic uncertainty, and Bitcoin ETF outflows. Besides Consensys, Kraken and Ledger have also paused their IPO plans.Consensys completed a $450 million funding round in 2022 at a valuation of $7 billion. Additionally, BitGo, which was the first crypto company to go public in 2026, raised $213 million but has since seen its stock price drop 36% from its $18 offering price, reflecting the public market's cautious approach toward valuing crypto infrastructure companies.
Onramp completes $12.5 million Series A funding round, led by Early Riders<odatory-translate-split><p>Odaily reports that Onramp has announced the completion of a $12.5 million Series A funding round at a pre-money valuation of $135 million. The round was
Onramp 宣布完成 1250 万美元 A 轮融资，投前估值达 1.35 亿美元，Early Riders 领投，其私有客户及外部天使投资人等参投。该项目主要业务是为比特币大额持有者提供多机构托管平台，通过 BitGo、Coincover 和 Tetra Trust 等合作伙伴，确保资产需经多个机构批准方可转移。(axios)
Ledger suspends US IPO plan due to unfavorable market conditions
crypto wallet provider Ledger has suspended its US IPO plans, citing unfavorable current market conditions. (CoinDesk)
Block Plans to Establish Bitcoin and Stablecoin Custody Trust Bank, Applies for U.S. Federal Bank Charter
Odaily reports: Block, the payment company founded by Jack Dorsey, has submitted an application to the U.S. Office of the Comptroller of the Currency to establish an uninsured national trust bank named Builders Bank & Trust, N.A. Proposed president and CEO Lee Woolley stated that the bank will leverage Block's experience in digital assets, the history of Square Financial Services, and the team's banking expertise to provide custody and other trust services including Bitcoin and stablecoins, and to establish a federal regulatory framework for some of Block's existing custody operations.This application joins the ranks of fintech and crypto companies seeking federal bank charters. Since 2025, the U.S. Office of the Comptroller of the Currency has received 40 applications for new bank charters, approved 21, and rejected only 2. Previously, Revolut received conditional approval, and Coinbase, Paxos, BitGo, Ripple, and Circle have also joined the related ranks.
C1 Fund Bets on Polymarket in Q2, Portfolio Expands to 11 Crypto Companies
Odaily News Crypto asset investment fund C1 Fund (NYSE: CFND) has announced its Q2 2026 performance results. As of June 30, the fund's net asset value (NAV) stood at $42.63 million, with a NAV per share of $6.49. The fair value of its investment portfolio was approximately $33.07 million, accounting for 77.5% of net assets.C1 Fund added Polymarket to its holdings in Q2, bringing its total investment portfolio to 11 companies. These span sectors including crypto payments, custody, compliance, staking, exchanges, development infrastructure, and prediction markets. Its two largest exposures are Ripple (17.5% of net assets) and Payward, the parent company of Kraken (16.9%).As of July 31, C1 Fund has repurchased and canceled 249,300 shares of its own stock at a total cost of approximately $824,000. The company is currently authorized to repurchase up to $3 million worth of shares. Management stated that buybacks conducted when the share price falls below NAV help enhance the per-share NAV for remaining shareholders.Additionally, Kraken and Blockchain.com have publicly announced that they have confidentially submitted potential IPO applications to the U.S. SEC; BitGo completed its IPO in January 2026. C1 Fund also revealed that an early partial issuer repurchase by Ripple generated approximately a 150% return on investment for the fund in just over four months. (Businesswire)
BitGo Announces Acquisition of NYDIG Institutional Trading Business
According to an official announcement from BitGo, the company has reached a definitive agreement with NYDIG to acquire its institutional trading business, adding capabilities in execution, derivatives, structured products, and financing to complement its existing federally regulated custody, settlement, and wallet infrastructure. NYDIG's institutional trading business serves institutional clients including asset management firms, hedge funds, corporations, and family offices.
Virtu Financial, M1X Global, and Tradeweb Complete First On-Chain Repo Transaction Using Sovereign Digital Bond as Collateral in Under 10 Minutes
Odaily News - Financial services firm Virtu Financial, M1X Global, and electronic trading platform Tradeweb have completed an on-chain repo transaction using the Republic of the Marshall Islands' USDM1 sovereign digital bond as collateral. The entire transaction was executed on the Canton Network and settled in under 10 minutes.USDM1 is a U.S. dollar-denominated, on-chain issued sovereign bond, backed 1:1 by short-term U.S. Treasuries. It pays a coupon while serving as collateral and constitutes a fully collateralized sovereign obligation under New York State law. The parties involved stated that this is the first repo transaction combining natively issued sovereign collateral with fully on-chain atomic settlement.USDM1 is available for electronic trading via Tradeweb, with institutional custody services provided by Anchorage Digital, BitGo, and tZERO. The Canton Network is designed for institutional finance, featuring privacy and permissioning mechanisms for regulated transactions and tokenized assets. (Cointelegraph)
BitGo's Korean Entity Completes VASP Registration, Becomes First Overseas Crypto Enterprise to Directly Obtain a License
According to Yonhap News Agency, global virtual asset infrastructure company BitGo announced that its Korean entity, BitGo Korea, had its VASP (Virtual Asset Service Provider) registration application accepted by the Korea Financial Intelligence Unit (FIU) on August 18, becoming the first overseas crypto corporate entity to directly complete VASP registration in Korea to date. Established in 2024, BitGo Korea chose to enter the market by directly complying with regulatory requirements this time, rather than adopting the common industry practice of acquiring existing VASP companies. Moving forward, it will officially launch virtual asset custody (Custody) and transfer services in Korea based on this foundation, focusing on expanding business to financial institutions and corporate clients.
Sui Hashi Testnet Handles Over 1.1 Million Bitcoin Deposits in Three Weeks, 25 Institutions Participate in Stress Testing
Odaily News: Since the launch of Sui's Hashi Bitcoin lending protocol testnet on July 22, it has processed over 1.1 million Bitcoin deposits and 165,000 withdrawals within three weeks. As of last week, more than 25 institutions had participated in the system's stress testing. Participating institutions include digital asset custodian BitGo, trading firm Cumberland, as well as Swissborg, Fluid, and Ledger, covering areas such as trading, custody infrastructure, and wealth management platforms. Hashi allows users to deposit native Bitcoin, which is confirmed by Sui validators before minting hBTC for on-chain lending and stablecoin borrowing. Deposits utilize a 2-of-2 multi-signature mechanism with MPC validator signatures, while withdrawals require review by the Guardian Layer; the project team will proceed with the 2026 mainnet launch only after this security layer completes its security audit. (Bitcoin.com News)
BitGo acquires NYDIG institutional trading business for $42.5 million, expanding derivatives and financing services
Odaily News: Digital asset infrastructure company BitGo has announced the completion of its acquisition of NYDIG's institutional trading business. The transaction employs a two-step merger structure, with total consideration of approximately $42.5 million, including $7 million in cash and approximately $35.5 million in BitGo stock.The business brings approximately 30 NYDIG employees and institutional client relationships into BitGo, offering derivatives, structured products, financing, and capital markets solutions to asset management firms, hedge funds, corporations, and family offices.The transaction also includes performance-based incentive provisions, including a $10 million cash payment tied to a revenue milestone, up to $5 million in cash and additional shares tied to a second milestone, as well as retention incentives for transferred employees.NYDIG will focus on power generation, Bitcoin mining, and high-performance computing data center operations, with the company disclosing a development pipeline exceeding 3 gigawatts. BitGo recently completed its IPO on the New York Stock Exchange, with a post-issuance valuation of approximately $2 billion, and launched the USDS token. (Decrypt)
TRUMP team address transferred out 3.837 million SOL, routed via BitGo into OKX
According to on-chain analyst Yu Jin, the TRUMP token team address (2RH...FSK) transferred out 3.837 million SOL, valued at $9.33 million, one hour ago, routing through BitGo before entering OKX.
Sui Hashi Testnet Handles Over 1.1 Million Bitcoin Deposits in Three Weeks, 25 Institutions Participate in Stress Testing
Odaily News: Since the launch of Sui's Hashi Bitcoin lending protocol testnet on July 22, it has processed over 1.1 million Bitcoin deposits and 165,000 withdrawals within three weeks. As of last week, more than 25 institutions had participated in the system's stress testing. Participating institutions include digital asset custodian BitGo, trading firm Cumberland, as well as Swissborg, Fluid, and Ledger, covering areas such as trading, custody infrastructure, and wealth management platforms. Hashi allows users to deposit native Bitcoin, which is confirmed by Sui validators before minting hBTC for on-chain lending and stablecoin borrowing. Deposits utilize a 2-of-2 multi-signature mechanism with MPC validator signatures, while withdrawals require review by the Guardian Layer; the project team will proceed with the 2026 mainnet launch only after this security layer completes its security audit. (Bitcoin.com News)
Mizuho cuts BitGo price target to $11, but says Clarity Act delay may actually be a tailwind
Odaily News, Mizuho analysts lowered the price target for crypto custodian BitGo from $14 to $11, while maintaining an "Outperform" rating. At the time of the report, BitGo's stock was trading at approximately $5.61.Mizuho believes that the market generally views the delay of the U.S. crypto market structure bill, the Clarity Act, as bearish, but for BitGo, this could actually be an advantage. This is because BitGo already operates the first federally chartered digital asset trust bank owned by a public company, and its regulatory standing does not depend on the passage of new legislation.Analysts noted that the Clarity Act aims to establish a framework for the U.S. digital asset market structure and clarify the division of powers among different regulatory agencies. However, due to repeated negotiations on key issues, the bill has faced ongoing delays.In Mizuho's view, the longer regulatory uncertainty persists each quarter, the more BitGo's existing licenses and first-mover compliance advantages accumulate, and the higher the barriers for new entrants. In other words, the later regulation is finalized, the more "trusted and already licensed" becomes BitGo's core competitive strength.
Alameda Research Transfers $8.25 Million Worth of SOL to BitGo Custody Wallet, Possibly for FTX Creditor Repayment
According to Arkham monitoring, Alameda Research-associated addresses transferred a total of $8.25 million worth of SOL to BitGo custody wallets via 24 transactions, speculated to be for distribution to FTX creditors. Arkham data shows that Alameda currently still holds SOL worth over $200 million.
Worth $15.2 million, Alameda Research/FTX bankruptcy wallet transfers 201,800 SOL to BitGo, funds being used for over-the-counter sale
Odaily News According to Onchain Lens monitoring, the Alameda Research/FTX bankruptcy wallet transferred 201,780 SOL (approximately $15.2 million) to multiple BitGo custody wallets 10 hours after unstaking 201,740 SOL. The related funds are being redirected for over-the-counter sales. Meanwhile, FTX founder Sam Bankman-Fried remains incarcerated, serving a 25-year prison sentence.
Crypto Companies Send Joint Letter to AI Labs, Urging Access to Frontier Models for Bitcoin Developers
据 Cointelegraph 报道，比特币政策研究所（BPI）联合 Anchorage Digital、BitGo、Bitwise、Blockstream、Kraken、Ledger、MARA、Trezor 等多家加密机构，发布公开信敦促各大前沿 AI 实验室为比特币及开源软件开发者建立或扩展可信访问计划。 信中指出，Bitcoin Core 等开源维护者目前缺乏对 AI 实验室网络安全程序的访问渠道，被迫依赖能力较弱的开源模型，而比特币网络当前保护着逾 1 万亿美元资产，任何开源基础设施漏洞均可能危及用户毕生积蓄。BPI 同时披露，已收到多份报告显示包括潜在境外势力在内的复杂攻击者正借助先进 AI 能力持续发动攻击。
BitGo Switches Its $7.3B WBTC Cross-Chain Service Provider to Chainlink CCIP
: Crypto infrastructure company BitGo will switch its exclusive cross-chain service provider for $7.3 billion worth of WBTC from LayerZero to Chainlink CCIP. Following the $292 million cross-chain bridge exploit at Kelp, multiple projects have announced migrations from LayerZero to Chainlink, with disclosed migration volumes totaling $14.5 billion. BitGo will use CCIP for future assets while retaining control over token contracts, rate limits, and transfer settings.
BitGo CEO Issues Public Challenge to Anthropic, Claims 100 BTC Deposited in Public Address
BitGo CEO Mike Belshe posted on social media stating that rather than hyping the narrative of "creating a hacker monster," it is better to conduct real verification. He stated that he has deposited 100 Bitcoins into a BitGo wallet, made the wallet address public, and issued a public challenge to Anthropic.
Bitgo CEO deposits ~$6.3M in BTC, challenges Claude to move the funds
: Bitgo CEO Mike Belshe deposited 100 BTC into a public Bitcoin address on August 1, worth approximately $6.3 million at the time, and invited Anthropic's Claude model to attempt to move the funds out of the address. On-chain records show the wallet received the funds on July 31, and the balance had not been transferred out as of August 2. Anthropic previously disclosed that during 141,006 cybersecurity assessment runs, 3 incidents were found, with 6 evaluation sessions involving 3 models inadvertently interacting with real organizational systems. The models involved include Claude Opus 4.7, Claude Mythos 5, and an unreleased internal research model. The cause was a configuration error by third-party testing partner Irregular, which led to the test environment being connected to the internet. Anthropic stated that Claude Opus 4.7, during one evaluation, located a real website with the same name as a simulated company, exploited weak passwords and exposed services to recover infrastructure credentials, and accessed a production database containing hundreds of records. The company said the model was attempting to complete assigned tasks, not actively breaking constraints or pursuing independent goals. Belshe's challenge involves Bitgo's institutional custody platform, which uses multi-signature or multi-party computation technology to distribute signing authority across multiple independent keys. As of August 2, Anthropic had not publicly responded to the challenge.
A newly created wallet, suspected to belong to Framework Ventures, has received 62.68 million H tokens from BitGo, worth $7.65 million.
according to monitoring by Onchain Lens, despite the hack of Humanity Protocol, a newly created wallet has received 62.68 million H tokens from BitGo, worth $7.65 million. The wallet is suspected to belong to VC Framework Ventures, though this has not yet been confirmed.
No need for per-transaction signing: BitGo enables institutional clients to connect self-custodied wallets to Hyperliquid for perpetual contract trading
crypto custody firm BitGo has announced that eligible institutional clients can now connect their existing self-custodied hot wallets to Hyperliquid via WalletConnect, enabling perpetual contract trading without the need to create a separate wallet or approve transactions individually. This setup preserves BitGo's existing deposit and withdrawal approval controls, allowing clients to manage Hyperliquid positions without additional wallet signing or Gas fees for each order.
Virtu Financial, M1X Global, and Tradeweb Complete First On-Chain Repo Transaction Using Sovereign Digital Bond as Collateral in Under 10 Minutes
Odaily News - Financial services firm Virtu Financial, M1X Global, and electronic trading platform Tradeweb have completed an on-chain repo transaction using the Republic of the Marshall Islands' USDM1 sovereign digital bond as collateral. The entire transaction was executed on the Canton Network and settled in under 10 minutes.USDM1 is a U.S. dollar-denominated, on-chain issued sovereign bond, backed 1:1 by short-term U.S. Treasuries. It pays a coupon while serving as collateral and constitutes a fully collateralized sovereign obligation under New York State law. The parties involved stated that this is the first repo transaction combining natively issued sovereign collateral with fully on-chain atomic settlement.USDM1 is available for electronic trading via Tradeweb, with institutional custody services provided by Anchorage Digital, BitGo, and tZERO. The Canton Network is designed for institutional finance, featuring privacy and permissioning mechanisms for regulated transactions and tokenized assets. (Cointelegraph)
Sui Hashi Testnet Handles Over 1.1 Million Bitcoin Deposits in Three Weeks, 25 Institutions Participate in Stress Testing
Odaily News: Since the launch of Sui's Hashi Bitcoin lending protocol testnet on July 22, it has processed over 1.1 million Bitcoin deposits and 165,000 withdrawals within three weeks. As of last week, more than 25 institutions had participated in the system's stress testing. Participating institutions include digital asset custodian BitGo, trading firm Cumberland, as well as Swissborg, Fluid, and Ledger, covering areas such as trading, custody infrastructure, and wealth management platforms. Hashi allows users to deposit native Bitcoin, which is confirmed by Sui validators before minting hBTC for on-chain lending and stablecoin borrowing. Deposits utilize a 2-of-2 multi-signature mechanism with MPC validator signatures, while withdrawals require review by the Guardian Layer; the project team will proceed with the 2026 mainnet launch only after this security layer completes its security audit. (Bitcoin.com News)
Mizuho cuts BitGo price target to $11, but says Clarity Act delay may actually be a tailwind
Odaily News, Mizuho analysts lowered the price target for crypto custodian BitGo from $14 to $11, while maintaining an "Outperform" rating. At the time of the report, BitGo's stock was trading at approximately $5.61.Mizuho believes that the market generally views the delay of the U.S. crypto market structure bill, the Clarity Act, as bearish, but for BitGo, this could actually be an advantage. This is because BitGo already operates the first federally chartered digital asset trust bank owned by a public company, and its regulatory standing does not depend on the passage of new legislation.Analysts noted that the Clarity Act aims to establish a framework for the U.S. digital asset market structure and clarify the division of powers among different regulatory agencies. However, due to repeated negotiations on key issues, the bill has faced ongoing delays.In Mizuho's view, the longer regulatory uncertainty persists each quarter, the more BitGo's existing licenses and first-mover compliance advantages accumulate, and the higher the barriers for new entrants. In other words, the later regulation is finalized, the more "trusted and already licensed" becomes BitGo's core competitive strength.
Crypto Companies Send Joint Letter to AI Labs, Urging Access to Frontier Models for Bitcoin Developers
据 Cointelegraph 报道，比特币政策研究所（BPI）联合 Anchorage Digital、BitGo、Bitwise、Blockstream、Kraken、Ledger、MARA、Trezor 等多家加密机构，发布公开信敦促各大前沿 AI 实验室为比特币及开源软件开发者建立或扩展可信访问计划。 信中指出，Bitcoin Core 等开源维护者目前缺乏对 AI 实验室网络安全程序的访问渠道，被迫依赖能力较弱的开源模型，而比特币网络当前保护着逾 1 万亿美元资产，任何开源基础设施漏洞均可能危及用户毕生积蓄。BPI 同时披露，已收到多份报告显示包括潜在境外势力在内的复杂攻击者正借助先进 AI 能力持续发动攻击。
Bitgo CEO deposits ~$6.3M in BTC, challenges Claude to move the funds
: Bitgo CEO Mike Belshe deposited 100 BTC into a public Bitcoin address on August 1, worth approximately $6.3 million at the time, and invited Anthropic's Claude model to attempt to move the funds out of the address. On-chain records show the wallet received the funds on July 31, and the balance had not been transferred out as of August 2. Anthropic previously disclosed that during 141,006 cybersecurity assessment runs, 3 incidents were found, with 6 evaluation sessions involving 3 models inadvertently interacting with real organizational systems. The models involved include Claude Opus 4.7, Claude Mythos 5, and an unreleased internal research model. The cause was a configuration error by third-party testing partner Irregular, which led to the test environment being connected to the internet. Anthropic stated that Claude Opus 4.7, during one evaluation, located a real website with the same name as a simulated company, exploited weak passwords and exposed services to recover infrastructure credentials, and accessed a production database containing hundreds of records. The company said the model was attempting to complete assigned tasks, not actively breaking constraints or pursuing independent goals. Belshe's challenge involves Bitgo's institutional custody platform, which uses multi-signature or multi-party computation technology to distribute signing authority across multiple independent keys. As of August 2, Anthropic had not publicly responded to the challenge.
Related news
No need for per-transaction signing: BitGo enables institutional clients to connect self-custodied wallets to Hyperliquid for perpetual contract trading
crypto custody firm BitGo has announced that eligible institutional clients can now connect their existing self-custodied hot wallets to Hyperliquid via WalletConnect, enabling perpetual contract trading without the need to create a separate wallet or approve transactions individually. This setup preserves BitGo's existing deposit and withdrawal approval controls, allowing clients to manage Hyperliquid positions without additional wallet signing or Gas fees for each order.
Block Plans to Establish Bitcoin and Stablecoin Custody Trust Bank, Applies for U.S. Federal Bank Charter
Odaily reports: Block, the payment company founded by Jack Dorsey, has submitted an application to the U.S. Office of the Comptroller of the Currency to establish an uninsured national trust bank named Builders Bank & Trust, N.A. Proposed president and CEO Lee Woolley stated that the bank will leverage Block's experience in digital assets, the history of Square Financial Services, and the team's banking expertise to provide custody and other trust services including Bitcoin and stablecoins, and to establish a federal regulatory framework for some of Block's existing custody operations.This application joins the ranks of fintech and crypto companies seeking federal bank charters. Since 2025, the U.S. Office of the Comptroller of the Currency has received 40 applications for new bank charters, approved 21, and rejected only 2. Previously, Revolut received conditional approval, and Coinbase, Paxos, BitGo, Ripple, and Circle have also joined the related ranks.
BitMine purchased 51,000 ETH worth approximately $126 million from FalconX and BitGo 2 hours ago.
According to Lookonchain, BitMine, associated with Fundstrat co-founder Tom Lee, allegedly purchased 51,000 ETH from FalconX and BitGo about two hours ago, worth approximately $126 million.
C1 Fund Bets on Polymarket in Q2, Portfolio Expands to 11 Crypto Companies
Odaily News Crypto asset investment fund C1 Fund (NYSE: CFND) has announced its Q2 2026 performance results. As of June 30, the fund's net asset value (NAV) stood at $42.63 million, with a NAV per share of $6.49. The fair value of its investment portfolio was approximately $33.07 million, accounting for 77.5% of net assets.C1 Fund added Polymarket to its holdings in Q2, bringing its total investment portfolio to 11 companies. These span sectors including crypto payments, custody, compliance, staking, exchanges, development infrastructure, and prediction markets. Its two largest exposures are Ripple (17.5% of net assets) and Payward, the parent company of Kraken (16.9%).As of July 31, C1 Fund has repurchased and canceled 249,300 shares of its own stock at a total cost of approximately $824,000. The company is currently authorized to repurchase up to $3 million worth of shares. Management stated that buybacks conducted when the share price falls below NAV help enhance the per-share NAV for remaining shareholders.Additionally, Kraken and Blockchain.com have publicly announced that they have confidentially submitted potential IPO applications to the U.S. SEC; BitGo completed its IPO in January 2026. C1 Fund also revealed that an early partial issuer repurchase by Ripple generated approximately a 150% return on investment for the fund in just over four months. (Businesswire)
BitGo acquires NYDIG institutional trading business for $42.5 million, expanding derivatives and financing services
Odaily News: Digital asset infrastructure company BitGo has announced the completion of its acquisition of NYDIG's institutional trading business. The transaction employs a two-step merger structure, with total consideration of approximately $42.5 million, including $7 million in cash and approximately $35.5 million in BitGo stock.The business brings approximately 30 NYDIG employees and institutional client relationships into BitGo, offering derivatives, structured products, financing, and capital markets solutions to asset management firms, hedge funds, corporations, and family offices.The transaction also includes performance-based incentive provisions, including a $10 million cash payment tied to a revenue milestone, up to $5 million in cash and additional shares tied to a second milestone, as well as retention incentives for transferred employees.NYDIG will focus on power generation, Bitcoin mining, and high-performance computing data center operations, with the company disclosing a development pipeline exceeding 3 gigawatts. BitGo recently completed its IPO on the New York Stock Exchange, with a post-issuance valuation of approximately $2 billion, and launched the USDS token. (Decrypt)
BitGo Announces Acquisition of NYDIG Institutional Trading Business
According to an official announcement from BitGo, the company has reached a definitive agreement with NYDIG to acquire its institutional trading business, adding capabilities in execution, derivatives, structured products, and financing to complement its existing federally regulated custody, settlement, and wallet infrastructure. NYDIG's institutional trading business serves institutional clients including asset management firms, hedge funds, corporations, and family offices.