Crypto custodian firm BitGo to buy NYDIG's institutional trading business
· CNA · JoinRead a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST Tap here to return to FAST
FAST
Aug 27 : BitGo agreed to buy NYDIG's institutional trading business on Thursday as the crypto custodian pushes to strengthen its foothold in trading infrastructure.
Here are some details:
• The company did not mention the financial value of the deal.
• With the acquisition, about 30 NYDIG employees joined BitGo, the company said in a statement.
CNA Games
Guess Word
Crack the word, one row at a time
Buzzword
Create words using the given letters
Mini Sudoku
Tiny puzzle, mighty brain teaser
Mini Crossword
Small grid, big challenge
Word Search
Spot as many words as you can
Show More
Show Less
• The deal will add derivatives, structured products, financing and other capital markets services to BitGo's existing custody, settlement and wallet infrastructure units.
• Cryptocurrencies have started to gain mainstream prominence, benefiting from the Trump administration's friendly stance on the asset class.
• BitGo went public earlier this year, raising about $213 million in its initial public offering. Founded in 2013, it is one of the largest crypto custody firms in the United States.
• Through its institutional trading unit, NYDIG focuses on financing and derivatives, catering to institutional investors and family offices.
Newsletter
Week in Review
Subscribe to our Chief Editor’s Week in Review
Our chief editor shares analysis and picks of the week's biggest news every Saturday.
Sign up for our newsletters
Get our pick of top stories and thought-provoking articles in your inbox
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app