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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.
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.
Parikshit Mishra
Parikshit Mishra is CoinDesk's Regional Head of Asia, managing the editorial team in the region. Before joining CoinDesk, he was the EMEA Editor at Acuris (Mergermarket), where he dealt with copies related to private equity and the startup ecosystem. He has also worked as an Senior Analyst for CRISIL, covering the European markets and global economies. His most notable tenure was with Reuters, where he worked as a correspondent and an editor for various teams. He does not have any crypto holdings.
Oliver Knight
Oliver Knight is the co-leader of CoinDesk data tokens and data team. Before joining CoinDesk in 2022 Oliver spent three years as the chief reporter at Coin Rivet. He first started investing in bitcoin in 2013 and spent a period of his career working at a market making firm in the UK. He does not currently have any crypto holdings.
