BitGo vaults ahead in the crypto custody space, valued at $1.75B following fresh funding rounds
Crypto BitGo vaults ahead in the crypto custody space, valued at $1.75B following fresh funding rounds 1 min atrás Notícias do Bitcoin Ethereum BitGo, the Palo Alto-based crypto custody firm, has raised $100 million in funding, setting its valuation at an impressive $1.75 billion, a stark contrast to its price tag in 2021 when a $1.2 billion acquisition deal by Galaxy Digital Holdings was eventually called off, according to Bloomberg. BitGo focuses on securing crypto assets, with private keys often protected in physical vaults. The company acts as the custodian for major players in the crypto space, including the creditors of the bankrupt digital asset exchange FTX alongside Pantera Capital, Swan Bitcoin, and many others. BitGo‘s focus on regulatory safety and licensed operations may have given it a competitive edge in this uncertain market landscape, marked by increasing tensions over classifying cryptocurrencies as securities. Speaking to Bloomberg, CEO Mike Belshe acknowledged the market’s difficulty but emphasized the importance of being licensed and regulated, stating that “regulatory safety is just on everybodys minds right now.” Interestingly, Bloomberg reports that BitGos funding came entirely from new investors, based in the US and Asia, with some venturing from outside the crypto industry, according to Belshe. The company has not disclosed the