Cryptocurrency financial services company Galaxy Digital has announced the termination of its acquisition of cryptocurrency custodian BitGo. Galaxy Digital stated that the termination of the acquisition was due to BitGo’s failure to deliver 2021 audited financial statements in compliance with the agreement by July 31, 2022. Galaxy Digital announced on May 5, 2021 that the acquisition of BitGo at a valuation of $1.2 billion was paid for with $265 million in cash and 33.8 million Galaxy Digital shares, but in March of this year, Galaxy Digital said in an earnings call that it had renegotiated The terms of the acquisition of cryptocurrency custodian BitGo.