BitGo filed suit against Galaxy Digital, seeking damages in excess of $100 million for Galaxy Digital’s improper denials and willful breach of the merger agreement with BitGo. Foresight News previously reported that Galaxy Digital announced on May 5, 2021 that it planned to acquire BitGo at a valuation of US$1.2 billion, but on August 15, Galaxy Digital announced the termination of the acquisition of BitGo. In response, BitGo plans to sue Galaxy Digital for withdrawing from their $1.2 billion merger agreement and seek $100 million in damages from Galaxy.