Cryptocurrency custodian BitGo could launch IPO as early as late 2025

Odaily News According to Bloomberg, cryptocurrency custody company BitGo is expected to go public as early as the second half of 2025. BitGo completed a $100 million Series C round of financing in August 2023, with a valuation of $1.75 billion. This was the company's first financing since 2017, when it received $42.5 million in Series B financing led by Valor Equity Partners. The US "crypto czar" and former PayPal COO David Sacks also participated in the investment. In 2021, BitGo planned to go public through an acquisition transaction with Galaxy Digital. But Galaxy Digital said that the transaction was terminated in August 2022 because BitGo "failed to submit" audited financial statements. If the transaction is successful, BitGo's valuation will reach $1.2 billion.