Galaxy Digital has terminated its acquisition of crypto custodian BitGo.
According to Galaxy Digital, BitGo failed to deliver audited financial statements for 2021 as demanded by the agreement both parties struck.
In May 2021, Galaxy Digital announced the acquisition of BitGo for $1.2 billion.
Galaxy Digital is currently in the process of reorganization to become a Delaware-based company.
That will enable it to list on the Nasdaq exchange assuming it achieves regulatory approval.