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The Palo Alto-based security infrastructure and custodian firm, BitGo, secured a $100 million Series C funding round. This put the company at a $1.75 billion valuation. 
According to the press release, despite the regulatory differences, BitGo is already regulated in 50 countries. The US-based firm, founded in 2013, witnessed its clients rise by 60% in 2023 while its assets under custody (AUC) grew by 20%.&nbsp; 
 You might also like: <a href="https://crypto.news/bitgo-terminates-plans-to-buy-prime-trust/" rel="noopener noreferrer nofollow"> BitGo terminates plans to buy Prime Trust&nbsp; </a> 
Moreover, BitGo’s staked assets also rose 40 times. The digital asset custodian <a href="https://www.prweb.com/releases/bitgo-secures-100m-series-c-funding-at-1-75b-valuation-301901731.html?utm_campaign=BitGo_Brand&amp;utm_medium=Social&amp;utm_source=Twitter&amp;utm_term=SeriesC&amp;utm_content=Industry" target="_blank" rel="noopener noreferrer nofollow">stated</a> utilizing recent funding for developing and expanding its services globally. 
<blockquote class="wp-block-quote"> 
 “Not only are we seeing growing demand for regulated custody solutions in the US, but we’re also seeing the demand on a global scale. We are very pleased to announce our $100M Series C for the purpose of meeting this growing need and to provide institutions, brands, coin foundations, and others with secure and seamless participation in the digital asset ecosystem.” <cite>BitGo CEO Mike Belshe</cite> 
</blockquote> 
On June 12, BitGo <a href="https://crypto.news/us-court-grants-galaxy-digital-victory-dismisses-100m-bitgo-lawsuit/" rel="noopener noreferrer nofollow">lost</a> a lawsuit to Galaxy Digital, one of the company’s early investors, for terminating an acquisition deal in August 2022. The U.S. court dismissed the legal case, claiming Galaxy Digital had a “clean termination right.” 
On June 22, BitGo <a href="https://crypto.news/bitgo-terminates-plans-to-buy-prime-trust/" rel="noopener noreferrer nofollow">halted</a> its plan to acquire Prime Trust, a crypto custody platform, two weeks after an initial acquisition announcement.&nbsp; 
 Read more: <a href="https://crypto.news/us-court-grants-galaxy-digital-victory-dismisses-100m-bitgo-lawsuit/" rel="noopener noreferrer nofollow"> US Court grants Galaxy Digital victory, dismisses $100m BitGo lawsuit </a>

BitGo valued at $1.75b after $100m funding round

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