Question 1

What did Galaxy apply for?

Accepted Answer

Galaxy Digital applied for a national trust bank charter from the US Office of the Comptroller of the Currency, which it announced on October 29, 2026.

Question 2

Why did Galaxy's 2021 deal to buy BitGo collapse?

Accepted Answer

Galaxy terminated the roughly $1.2 billion acquisition on August 15, 2022, saying BitGo failed to deliver audited 2021 financial statements by a July 31 deadline; BitGo then sued for $100 million and lost.

Question 3

Did BitGo get a federal charter before Galaxy?

Accepted Answer

Yes. BitGo won full OCC approval on January 29, 2026, becoming one of only two crypto firms, alongside Circle, to open a national trust bank by late August 2026.

BTGO

Galaxy seeks its own trust bank charter four years after walking away from BitGo

One sharp brief.
Every day.

BTGO

Galaxy seeks its own trust bank charter four years after walking away from BitGo

One sharp brief.Every day.

One sharp brief.
Every day.