BitGo acquires NYDIG's institutional trading business for $42.5 million

According to Decrypt, BitGo has acquired NYDIG's institutional trading business for $42.5 million, including $7 million in cash and $35.5 million in BitGo stock, with an additional $15 million performance bonus. This business integrates 30 NYDIG employees and institutional customer relationships into BitGo, providing derivatives, structured products, financing, and capital market solutions. NYDIG will focus on power generation, Bitcoin mining, and high-performance computing data center businesses. BitGo recently completed its IPO on the New York Stock Exchange, with a valuation of approximately $2 billion, and launched the USDS token.