According to CoinMeta, as reported by Decrypt, BitGo acquired the institutional trading business of NYDIG for $42.5 million. The transaction included $7 million in cash and $35.5 million in BitGo shares, with an additional $15 million set aside as a performance bonus. This acquisition brought 30 NYDIG employees and institutional client relationships under BitGo, which will provide derivatives, structured products, financing, and capital market solutions. NYDIG will now focus on power generation, Bitcoin mining, and high-performance computing data center services. BitGo recently completed a IPO on the New York Stock Exchange, with a valuation of approximately $2 billion, and also launched a USDS token.