Galaxy's Novogratz and BitGo square off in court over $100M termination claim!

Mike Novogratz's Galaxy Digital and crypto custodian BitGo are heading to court over a $100 million legal claim, Bloomberg reports. The dispute traces back to Galaxy's 2022 decision to walk away from its agreed acquisition of BitGo — a deal that had been valued at roughly $1.2 billion at signing.

BitGo has argued it is owed a $100 million termination fee under the terms of the merger agreement Galaxy abandoned. Galaxy has contested that liability, setting up a courtroom showdown between two of the industry's most prominent names.

The outcome carries weight beyond the two firms: a ruling on deal-termination liability in crypto M&A could shape how future acquisition agreements in the sector are structured and enforced.