BitGo Raises $100 Million, Surpasses $1.75 Billion Valuation

BitGo, a leading digital asset trust and security company, has recently announced that it has raised $100 million in a Series D funding round. This successful funding round has propelled the company's valuation to over $1.75 billion, highlighting the increasing demand for digital asset services. BitGo has established itself as a trusted and secure custodian for digital assets, catering to institutional investors, exchanges, and other financial intermediaries. With this significant funding, the company plans to further expand its product offerings and global presence, supporting the growing adoption of cryptocurrencies and digital assets.

Despite its recent success, BitGo has faced some setbacks in its acquisition endeavors. The company has withdrawn from a deal to acquire Prime Trust, a blockchain-driven trust company. The reasons behind this decision remain undisclosed, as both BitGo and Prime Trust have refrained from commenting on the matter. Additionally, BitGo has experienced a failed acquisition deal with Galaxy Digital, a diversified financial services firm focused on the cryptocurrency and blockchain industry. Although the details surrounding this unsuccessful deal are scarce, it is evident that BitGo's acquisition plans have encountered obstacles on their path to expansion.