US court dismisses BitGo’s claims in $100M lawsuit against Galaxy Digital

US Court Dismisses BitGo’s Claims in $100M Lawsuit Against Galaxy Digital

BitGo, a crypto custody provider, had filed a $100 million lawsuit against Galaxy Digital in April 2020. BitGo accused Galaxy Digital of breaching a contract and misappropriating trade secrets.

The US District Court for the Northern District of California has now dismissed all of BitGo’s claims. The court ruled that BitGo had failed to provide sufficient evidence to support its claims.

In a statement, a spokesperson for Galaxy Digital said that the company was “pleased” with the court’s decision. They added that the decision “validates the strength of Galaxy Digital’s position.”

BitGo has yet to comment on the court’s decision. It is unclear if the company will appeal the ruling.

Allegations Against Galaxy Digital

BitGo had alleged that Galaxy Digital had breached a contract and misappropriated trade secrets. BitGo had also accused Galaxy Digital of interfering with its business relationships with third parties.

The lawsuit alleged that Galaxy Digital had breached a contract with BitGo by failing to pay for services provided by BitGo, and had misappropriated trade secrets by using confidential information provided by BitGo to develop its own products.

BitGo had also accused Galaxy Digital of interfering with its business relationships with third parties, including its partners, customers, and potential customers. BitGo alleged that Galaxy Digital had used false and misleading statements to induce third parties to terminate their relationships with BitGo.

Judge’s Ruling

The judge ruled that BitGo had failed to state a claim upon which relief could be granted. The judge noted that BitGo had failed to provide sufficient evidence to support its claims.