The digital asset trust firm Bitgo, headquartered in Palo Alto, California, has secured $100 million in a Series C funding round. While the company remains tight-lipped about the participants in this financial endeavor, this fresh infusion of capital catapults the firm’s post-valuation to $1.75 billion.
Bitgo Raises $100 Million From Undisclosed Investors
Bitgo has successfully bagged $100 million in a Series C funding round, with the investors’ names under wraps, as per a Bloomberg report. Bitgo’s top executive, Mike Belshe, acknowledged the challenging market landscape. Yet, he emphasized the company’s commitment to licensing and regulatory measures, noting, “Regulatory safety is top-of-mind for everyone,” in a conversation with Bloomberg’s Hannah Miller.
This update comes on the heels of Galaxy Digital scrapping its intentions to snap up Bitgo for a cool $1.2 billion in August 2022. Earlier, in June, Bitgo had its eyes on the beleaguered crypto custodian, Prime Trust,
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