BITGO TO BUY NYDIG TRADING ARM FOR $42.5M IN CASH AND STOCK

Summary from the TLDR Crypto newsletter

BitGo has agreed to acquire NYDIG IF Holdings, the institutional trading arm of Stone Ridge's bitcoin-focused subsidiary NYDIG, for $42.5 million in cash and stock plus a $15 million earnout. The deal is structured as $7 million in cash and approximately $35.5 million in BitGo equity, meaning the target receives roughly 83% of the base consideration in stock, with total consideration reaching $57.5 million if earnout targets are met. The acquisition adds institutional trading infrastructure to BitGo's existing custody and settlement stack, positioning the firm to serve a broader slice of the institutional client workflow under one roof.