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Galaxy Digital got it right. Initially, Galaxy Digital had reached an agreement to acquire Bitgo, which would take approximately 1.5-2 years. As part of the deal, Bitgo would periodically share company data with Galaxy Digital, and Galaxy Digital would acquire the company if it met certain standards.
However, with the emergence of the liquidity crisis, Galaxy Digital announced that it was withdrawing from this agreement almost at the same time. As the reason, he claimed that Bitgo did not deliver its financial data on time. Bitgo refused to accept this reasoning and filed a lawsuit against Galaxy Digital, demanding $100 million in damages for unfairly withdrawing from the agreement.
As a result of the lawsuit, Galaxy Digital was right, meaning that the court decided that Galaxy Digital's reason for withdrawing from the agreement was valid. However, Bitgo still has the right to object.
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