BitGo, represented by Abrams & Bayliss and Quinn Emanuel Urquhart & Sullivan, claimed Galaxy Digital broke the deal without an appropriate reason, seeking a $100 million fee for abandonment of the agreement.
September 16, 2022 at 05:09 PM
3 minute read
A digital asset company is suing for at least $100 million over an abandoned $1.2 billion merger, apparently bringing the largest-ever termination fee to the Court of Chancery by a cryptocurrency company.
In a complaint made public Thursday, California-based BitGo Inc., represented by Abrams & Bayliss and Quinn Emanuel Urquhart & Sullivan, claimed Galaxy Digital Inc. blamed BitGo’s accounting practices for breaking a $1.2 billion deal when Galaxy was no longer able to afford to close.
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