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According to Bloomberg, Galaxy Digital founder Michael Novogratz and BitGo CEO Mike Belshe are in court this week in Delaware over their 2021 failed $1.2 billion acquisition deal. BitGo is seeking at least $100 million in termination fees, saying Galaxy did not make reasonable efforts to get the deal completed and concealed regulatory investigations related to Luna; Galaxy, in turn, says the relevant investigations did not affect the SEC approval process and that BitGo did not provide compliant audited financial statements on time, so it has no right to claim termination fees. The deal was originally planned to support the merged company’s listing on Nasdaq, but was later impacted by changes in SEC accounting guidance and a market liquidity crisis triggered by the Terra/Luna collapse.