#bitgo

Crypto custody and infrastructure provider BitGo has announced a workforce reduction of nearly 15% as part of a broader strategic restructuring.

According to CEO Mike Belshe, the company will focus future investments on:

• Security • Trading • Stablecoins • Payment & settlement infrastructure • Artificial intelligence

📊 Financial results

• Revenue increased 112.6% YoY to approximately $3.8 billion following the company’s IPO.

• Net loss widened from $25.7 million to $60.7 million, mainly due to Bitcoin mark-to-market accounting and higher stock-based compensation expenses.

BitGo says the layoffs are part of a one-time restructuring, and no additional workforce reductions are currently planned.

The announcement follows similar AI-focused restructurings across the crypto industry, with companies such as Coinbase, Dune, and Block also reducing staff while increasing investment in AI-driven products and infrastructure.

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