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BitGo Cuts 15% of Staff and Shifts Focus to Stablecoins and AI

After its IPO, BitGo is cutting costs and doubling down on stablecoins, settlement, and AI infrastructure. The U.S. regulator OCC had already granted the company a trust bank charter.

By Finst News
• 2 min read
BitGo Cuts 15% of Staff and Shifts Focus to Stablecoins and AI

Key Takeaways

  • BitGo is cutting nearly 15% of its staff, or about 85 jobs, after its recent IPO and a strategic shift.
  • The company is now focusing more on security, trading, stablecoins, settlement, and AI-powered infrastructure.
  • CEO Mike Belshe says the layoffs are a one-time move and that no further cuts are planned.

BitGo is announcing a workforce reduction of nearly 15%, which will eliminate about 85 jobs. The move follows the crypto company's recent IPO and a strategic refocus on security, trading, stablecoins, settlement, and AI-powered infrastructure. CEO Mike Belshe says this is a one-time step with no further layoffs planned.

Focus on Institutional Crypto Services

BitGo went public in January 2026 with an opening price of $18 (€16) per share, giving the company a valuation of about $2 billion (€1.8 billion). Despite revenue growth to $16.2 billion in 2025, profitability remained limited, with adjusted EBITDA of $32.4 million (€28.6 million) and a net loss of $14.8 million (€13 million). Most of the revenue came from low-margin digital asset sales. The new strategy is aimed at strengthening higher-margin services like stablecoins, for which BitGo launched a minting tool in April. In addition, the company received a trust bank charter from the U.S. regulator OCC in December 2025, which strengthens its regulatory position and its institutional services offering.

Layoff Wave Across the Crypto Sector

BitGo's staff cuts fit into a broader trend in the crypto sector, where major players like Coinbase recently laid off thousands of employees to better position themselves for an AI-driven future. BitGo is putting the savings into building AI-powered financial infrastructure. At the same time, there is still debate about BitGo's cost efficiency, especially given the relatively high costs for Bitcoin custody. The next quarterly results will need to show more clearly how effective the new strategy is and how profitable the company can be.

Why This Matters for European Crypto Investors

BitGo's restructuring and shift in focus could matter for European crypto investors, since the company is positioning itself as a major player in institutional crypto infrastructure with a strong emphasis on compliance and innovation. This could point to broader professionalization across the sector, which may also affect the availability and reliability of crypto services in Europe.

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