BitGo Joins Crypto's AI Layoff Wave, Slashing Staff by 15%

BitGo has joined the growing ranks of crypto firms slashing staff numbers as part of a pivot to AI.

The crypto custody and infrastructure company is cutting nearly 15% of its workforce, co-founder and CEO Mike Belshe said Thursday in a tweet that BitGo also filed with the U.S. Securities and Exchange Commission.

"The ecosystem has evolved, and the way we build financial services has changed dramatically.," Belshe wrote, announcing that BitGo would focus its efforts on "security, trading, stablecoins, settlement, and AI-powered infrastructure."

BitGo did not confirm how many jobs were affected. Its 2025 annual report listed 603 full-time employees, implying roughly 90 roles. Belshe called the layoffs "a one-time action" and said BitGo does not anticipate further cuts, noting that its job board still lists dozens of open positions.

The reductions come months after BitGo went public. It priced its IPO at $18 a share in January, raising about $213 million and valuing the firm above $2 billion. First-quarter revenue then surged 112.6% from a year earlier to $3.8 billion, though net losses widened.

Investors were unmoved. BitGo shares, which trade as BTGO, fell nearly 5% on Thursday

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/crypto/articles/bitgo-joins-cryptos-ai-layoff-101533080.html)