Following the cancellation of the Prime Trust transaction, BitGo CEO Mike Belshe said that numerous additional acquisitions are in the works.
In an interview with CoinDesk TV, BitGO CEO indicated that the business has additional acquisitions in the works that it has yet to reveal.
Belshe projected that consolidation will occur in the area during the following six months.
On June 22, the American-based crypto custodian platform called off the acquisition of Prime Trust amid reports of the company’s insolvency.
As previously reported, BitGo’s purchase of Prime Trust was supposed to give financial assistance to Prime Trust in its current bankruptcy proceedings.
BitGo CEO Discusses Future Plans
Belshe also discussed BitGo’s future throughout the conversation.
Mike Novogratz’s crypto merchant bank Galaxy Digital was on the verge of acquiring the California-based startup. The $1.2 billion agreement, however, was canceled in August 2021.
The CEO said that they had received proposals on a regular basis since the Galaxy transaction.
Belshe noted that the crypto custody firm is now more focused on building its business rather than being purchased by a large competitor.
Speaking about Coinbase, which BlackRock (BLK) chose as the custodian for its fund-management subsidiary iShares’ planned Bitcoin ETF, Belshe said that the American exchange is a public firm with a very solid balance sheet, so they do attract some of the early adopters.
BitGo CEO suggests potential separation of custody service from trading business.
Belshe went on to say that Coinbase would ultimately have to decide if they want to be a custodian or an exchange.
According to Belshe, BitGo is “talking to pretty much every big deal out there,” and BlackRock CEO Larry Fink has his phone number.
- Website: goldenseastudios.com
- Email: info@goldenseastudios.com
- Social Media: @goldenseastudios (Twitter, Instagram, Facebook)
- Telegram: @goldenseastudio
Recent posts
We’ve got a lot of awards for our products and services that became popular in the world.
Blog
THE SUPER FIRE BLOCKCHAIN RACING GAME IS HERE, FROM GOLDEN SEA STUDIO!
Blog
Golden Sea Studio: Elevating Digital Experiences through Innovation
THE SUPER FIRE BLOCKCHAIN RACING GAME IS HERE, FROM GOLDEN SEA STUDIO!
Golden Sea Studio: Elevating Digital Experiences through Innovation
The SEC has ruled against Celsius’s proposed use of Coinbase as an international distribution agent.
Polygon has released Phase 0 of Polygon 2.0, while Ripple has opened up its Liquidity Hub to Brazil and Australia.
Most Influential: DOGE Ends a Defeatless Streak of 6 Days
The sum of money users put down for the 2023 Game
Pokémon Sleep breaks record downloads
Elon Musk Backs Vivek Ramaswamy, A Republican Presidential Candidate Who Is Pro-Crypto