Cryptocurrency custodian BitGo has terminated its acquisition of rival custody specialist Prime Trust.
BitGo made the decision after “considerable effort and work to find a path forward with Prime Trust,” the firm tweeted on Thursday.
“This decision was not made lightly and BitGo remains committed to our mission to deliver trust in digital assets,” BitGo added.
BitGo reached a preliminary agreement to acquire Prime Trust earlier this month following speculation that the Nevada-regulated custodian was facing bankruptcy.
