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Why Galaxy Digital bought BitGo

Quick Take

  • Mike Novogratz, CEO of Galaxy Digital, sees custody as crucial to the “full stack” of crypto financial services.
  • Acquiring BitGo also gives Galaxy the technical talent it needs to build its own blockchain applications, he says.
Mike Novogratz noticed that Galaxy was missing out on clients looking for a "full stack" provider. So he brought custody services in-house.

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