On August 16th, cryptocurrency custody company BitGo completed a $100 million financing round at a valuation of $1.75 billion. BitGo declined to disclose specific investors, but stated that they come from the United States and Asia, some of which are outside the cryptocurrency industry. This round of financing will be used for strategic acquisitions, with at least two transactions currently in progress. BitGo is currently the custodian of FTX creditors, and its clients also include financial services company Swan Bitcoin, blockchain developer Mysten Labs, and clothing giant Nike.
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BitGo Completes $100 Million Financing at $1.75 Billion Valuation
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