Crypto Firm BitGo Raises $213 Million in IPO

Crypto custody company BitGo has raised $212.8 million in its initial public offering.

The IPO, the first by a digital asset firm this year, values BitGo at $2.08 billion, Reuters reported Thursday (Jan. 22). That’s higher than the $1.96 billion the company said it was targeting earlier this month.

The Reuters report characterizes the IPO as arriving at a fraught time for the crypto sector. American  lawmakers are at work on a market structure bill that would outline boundaries between securities and commodities oversight, while crypto companies warn it could hinder their business.

At the same time, the industry has been rocked by a steep selloff in October, the report added. That has increased the threshold for investor support…

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