Galaxy Digital founder Mike Novogratz faced off against BitGo CEO Mike Belshe in court and told a judge he had pushed for a $1.2 billion merger with BitGo in 2021, Bloomberg reported.

BitGo is suing Galaxy Digital for at least $100M after their $1.2B merger collapsed in 2022. The Delaware Supreme Court revived the case in May 2024.

In 2022, Galaxy said it was abandoning its acquisition plan due to BitGo's 'failure to deliver ... audited financial statements for 2021.'