Galaxy and BitGo are in court over their failed merger four years ago, with BitGo seeking $100 million in damages.

CoinFeed reported on May 22 that, according to Bloomberg, Galaxy Digital founder Michael Novogratz and BitGo CEO Mike Belshe are in court over a $1.2 billion merger deal that fell through four years ago. The deal was intended to lead to a Nasdaq listing for the merged company, but was subsequently hampered by changes in SEC accounting guidelines and a market liquidity crisis triggered by the Terra/Luna crash. BitGo is demanding at least $100 million in termination fees from Galaxy, accusing Galaxy of failing to make reasonable efforts to facilitate the deal and concealing details of investigations by US regulators. Novogratz argues that Galaxy was not under investigation and that BitGo forfeited its right to termination fees due to its failure to provide required financial statements on time.