THE HASH: Galaxy Digital Abandons $1.2B Plan to Acquire BitGo; and Another Stablecoin Tumbles After Hackers Exploit Bug

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CoinDesk

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4.7 • 698 Ratings

🗓️ 15 August 2022

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

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Summary

The most valuable crypto stories for Monday, Aug. 15, 2022. "The Hash" hosts discuss Galaxy Digital walking away from its plan to buy crypto custody firm BitGo. Also, an update on the depegging that happened on Sunday of Acala’s native stablecoin, aUSD, tumbled after hackers exploited a bug. In a final topic Terraform founder Do Kwon speaks out on his first interview since the $45 billion collapse of Terra. See also: DeFi Platform Acala’s Stablecoin Falls 99% After Hackers Issue 1.3B Tokens Galaxy Digital Abandons $1.2B Plan to Acquire Crypto Custody Firm BitGo Crypto Custody Firm BitGo to Sue Galaxy Digital for Abandoning $1.2B Merger Agreement _ I.D.E.A.S. 2022 by CoinDesk facilitates capital flow and market growth by connecting the digital economy with traditional finance through the presenter’s mainstage, capital allocation meeting rooms and sponsor expo floor. Use code HASH20 for 20% off the General Pass. Register now: coindesk.com/ideas - This episode has been edited by Michele Musso. Our executive producer is Jared Schwartz. Our theme song is “Neon Beach.” See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:43.9	Wondery, UK. That's audible.com slash Wondery UK. This is the hash podcast.
0:59.6	Stay informed with the latest on Bitcoin, ETH, the Metaverse, Web3, and more,
1:04.4	with stories that matter to the crypto world, all on the hash for your ears.
1:10.0	You're listening to the Coin Desk Podcast Network.
1:14.4	Hey there. Welcome to the hash. It's Monday. Happy Monday. You're watching CoinDest TV.
1:20.6	And we're really glad to have you here. We're all wearing yellow. We didn't mean to do that,
1:24.0	but it just worked out. That's amazing. I'm Zach Seward. That's Wendy O.
1:28.0	Jen Sannasi is here as well. Jen has our first story of the day. Jen, what's going on?
1:32.7	All right. We're going on over to Galaxy Digital Land. They have abandoned their $1.2 billion
1:39.4	plan to acquire crypto custody firm Bicko. Their crypto-focused financial services firm says
1:45.3	Bitco has failed to provide financial statements by the July deadline. So we'll remember that
1:51.2	the deal was announced in May 2021. It was supposed to be closed by the end of the year. BitGo was
1:56.7	required to send audited financial statements for 2021 by July 31st, and they did not do so. So the
	...

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