Crypto custodian BitGo looks to raise funds at a $1.2 billion waluation

11/16 00:52

According to Forbes, crypto custodian BitGo is in preliminary discussions to raise new funds at a $1.2 billion valuation, according to sources with knowledge of the company’s thinking. The first source said BitGo claims it is not targeting a specific amount and has a healthy balance sheet. The company claims that it has no exposure to FTX, Alameda, or firms such as Three Arrows Capital and Celsius. Investors began to approach the firm in August, following the acrimonious collapse of its planned $1.2 billion acquisition by Toronto-based Galaxy Digital Holdings. A second source, who spoke with two venture-capital and one private-equity firm participating in the discussion provided the $1.2 billion figure.

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