In January, BitGo, a Silicon Valley bitcoin wallet startup, announced plans to acquire Kingdom Trust, a Kentucky company that has quietly become a leading player in a thriving market serving cryptocurrency funds.
The move would have positioned BitGo to compete with a small but growing pool of players offering custodial service—in essence, storage of crypto assets—to high-net-worth individuals, institutions, and funds. It was designed to merge BitGo’s tech products, which offer a secure way for individuals to store bitcoin and crypto assets, with Kingdom’s custody services, which serve institutions. Having a trust charter, as Kingdom Trust does, would have given the combined entity a leg up on competition from Coinbase, Gemini (an exchange run by the Winklevoss twins), Ledger, ItBit, and Nomura, the Japanese bank which in May announced plans to offer crypto custody.
Featured News
FTC Pushes Review of CoStar’s Commercial Real Estate Antitrust Case
Jan 31, 2024 by
CPI
UK’s CMA Investigates Ardonagh’s Atlanta Group and Markerstudy Merger
Jan 31, 2024 by
CPI
Greenberg Traurig Grow Financial Regulatory and Compliance Practice
Jan 31, 2024 by
CPI
Dutch Regulator Fines Uber €10 Million for Privacy Violations
Jan 31, 2024 by
CPI
DOJ Investigates AI Competition, Eyes Microsoft’s OpenAI Deal: Bloomberg
Jan 31, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – The Rule(s) of Reason
Jan 29, 2024 by
CPI
Evolving the Rule of Reason for Legacy Business Conduct
Jan 29, 2024 by
CPI
The Object Identity
Jan 29, 2024 by
CPI
In Praise of Rules-Based Antitrust
Jan 29, 2024 by
CPI
The Future of State AG Antitrust Enforcement and Federal-State Cooperation
Jan 29, 2024 by
CPI