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<div class="cryptonews"> 
 <p class="is-style-lead">The Palo Alto-based security infrastructure and custodian firm, BitGo, secured a $100 million Series C <a rel="noopener noreferrer nofollow" title="funding" href="https://thebittimes.com/tag/funding.html">funding</a> <a rel="noopener noreferrer nofollow" title="round" href="https://thebittimes.com/tag/round.html">round</a>. This put the company at a $1.75 billion valuation.</p> 
 <p>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;</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> BitGo terminates plans to buy Prime Trust&nbsp; 
 </div> 
 <p>Moreover, BitGo’s staked assets also rose 40 times. The digital asset custodian stated utilizing recent <a rel="noopener noreferrer nofollow" title="funding" href="https://thebittimes.com/tag/funding.html">funding</a> for developing and expanding its services globally.</p> 
 <blockquote class="wp-block-quote"> 
  <p>“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.”</p> <cite>BitGo CEO Mike Belshe</cite> 
 </blockquote> 
 <p>On June 12, BitGo lost 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.”</p> 
 <p>On June 22, BitGo halted its plan to acquire Prime Trust, a crypto custody platform, two weeks after an initial acquisition announcement.&nbsp;</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> US Court grants Galaxy Digital victory, dismisses $100m BitGo lawsuit 
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BitGo valued at $1.75b after $100m funding round

TheBitTimes

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