VALUATION

Summary from the TLDR Crypto newsletter

US-based crypto custody firm BitGo announced it raised $100m in funding at a $1.75 billion valuation. While many folks in the industry raised their eyebrows at this valuation, BitGo, which safeguards crypto assets, says its focus on regulatory compliance garnered investor interest. CEO Mike Belshe remained tight-lipped about the investors’ identities but revealed they were from the US and Asia. The funds will be used to fuel strategic acquisitions, with two deals already underway.