BitGo agrees to buy NYDIG's institutional trading business and related assets, expanding BitGo's derivatives offerings; ~30 NYDIG employees are joining BitGo
The crypto infrastructure firm BitGo has agreed to buy the institutional trading business and related assets of NYDIG, CNBC has learned.
CNBC Tanaya Macheel
Related Coverage
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- Crypto custodian firm BitGo to buy NYDIG's institutional trading business, source says Reuters
- BitGo Acquires NYDIG Institutional Trading Business, Adding Derivatives And Financing Capabilities Pulse 2.0 · Amit Chowdhry
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- BitGo Acquires Bitcoin Miner NYDIG's Institutional Trading Business, BTGO Stock Jumps CoinGape · Varinder Singh
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- BitGo to Acquire NYDIG to Expands Institutional Crypto Platform CryptoNinjas · Isabella Flores
- BitGo Acquires NYDIG Assets as Institutional Strategy Grows Blockonomi · Maxwell Mutuma
- BitGo buys NYDIG trading arm to deepen institutional crypto push Cointelegraph · Helen Partz
- BitGo acquires NYDIG institutional trading business for $57.5M Quartz · Cris Tolomia
- BitGo to buy NYDIG trading arm for $42.5M in cash and stock plus $15M earnout CoinDesk · Ian Allison
- Consolidation, Not Speed, Is the Overnight Theme Across Custody and Payments Bitcoin Insider
- BitGo acquires NYDIG's institutional trading arm FinTech Global · Jhaxell
- NYDIG's Institutional Trading Unit Sold to BitGo in Expansion Deal Bitcoin Insider
Discussion
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@sharp_on_sats
Nate Sharp
on x
This kind of consolidation is going to continue and strategically this looks like a spectacular acquisition for BitGo. What makes it so interesting is how neatly NYDIG fills out the business. BitGo already has the custody relationships and the assets. Now they add execution,
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@luketdd
@luketdd
on x
BitGo didn't just buy code. They absorbed NYDIG's entire institutional engine: • 250+ institutional client relationships • Top-tier derivatives & structuring desks • 30 dedicated Wall Street trading pros • Direct access to hedge funds, insurers, and corporate treasuries
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@bitgo
@bitgo
on x
BitGo has entered a definitive agreement to acquire @NYDIG's institutional trading business, adding execution, derivatives, structured products, and financing capabilities that complement our federally-regulated custody, settlement, and wallet infrastructure. NYDIG's