BitGo IPO is an easy fade. Galaxy bailed on the acquisition at market peak in 2022 for half the p...
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Note: AI-generated summary based on third-party content. Not financial advice. Read more.
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The upcoming BitGo IPO is viewed as an "easy fade" due to Galaxy Digital bailing on an acquisition at half the current IPO valuation in 2022, suggesting the custody business is commoditized with collapsing gross margins. The company is perceived to only be profitable under perfect crypto market conditions, indicating significant risk for investors.
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About Beanie
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By beaniemaxi
Crypto native since the early days. Went all in on DeFi summer. Then tripled down on NFTs. VC @gmcapital_. No paid promos. Not financial advice. I talk my book.