that its acquisition by FTX was still a pending transaction that wasn’t closed. “Digital assets are held with independent third-parties BitGo Inc. and BitGo Trust Company, with over 80% of assets held in cold storage,” the company said.
“We are happy the acquisition didn't close, it would have been devastating to our staff, and just as importantly our customers,” Bitvo CEO Pamela Draper told Cointelegraph. The process between the announcement of the deal in June involved working to satisfy the closing conditions, the most significant of which was regulatory approval, she added.
“The Alberta Securities Commission is our principal regulator and Bitvo and FTX were working with them to obtain the required approvals,” Draper said. While Bitvo appears to have managed to back off the deal, there are some crypto companies that have been affected by the FTX crisis due to being acquired by the crypto mogul.
BitvoCrypto You should be thankful that if the acquisition is completed, you will be out of work being investigated
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