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BitGo Raises $100M After Scrapping Prime Trust Deal: Bloomberg
The raises comes nearly two months after BitGo ended its plan to buy beleaguered rival Prime Trust.
Updated Aug 16, 2023, 3:18 p.m. Published Aug 16, 2023, 11:43 a.m.
Crypto custodian BitGo has raised $100 million at a valuation of $1.75 billion, Bloomberg reported on Wednesday.
The $100 million raise comes nearly two months after the custodian scrapped plans to buy rival Prime Trust. The troubled Prime Trust could reportedly cut up to 75% of its staff, due to immense financial and regulatory challenges.
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BitGo did not immediately respond to CoinDesk's request for comment.
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