BitGo trims headcount by 15% as it doubles down on stablecoins, AI
The newly public crypto custodian joins a growing list of digital asset firms trimming headcount while pivoting toward AI-driven operations
BitGo is reducing headcount by nearly 15% as it reallocates resources toward its highest-priority businesses, Chief Executive Officer Mike Belshe said in a statement.
Today I'm sharing a hard decision: we are reducing our workforce by nearly 15%.
I want to be straight with you about why. The ecosystem has evolved, and the way we build financial services has changed dramatically. To keep winning for our clients, we need to be sharper, more…
— Mike Belshe (@mikebelshe) June 25, 2026
The company is narrowing its strategic focus to security, trading, stablecoins, settlement and AI-powered infrastructure, reflecting changes in the digital asset industry and client demand, Belshe said.
He added that all employees impacted were informed before the announcement and that the move was difficult but necessary.
Belshe also noted that the reduction is expected to be a one-time action and that the company does not anticipate any additional layoffs.
BitGo went public on the New York Stock Exchange in January 2026 under the ticker BTGO. The company reported about 566 full-time employees as of late 2025.
The crypto custodian previously reduced its workforce by roughly 12% in April 2020 during a company-wide restructuring.
Job cuts have continued across the digital asset industry in 2026. Coinbase laid off about 14% of its workforce in May, citing AI efficiencies, while MARA Holdings reduced headcount by about 15% in April as part of a strategic pivot toward AI infrastructure.
BitGo Holdings shares fell 4.7% to close Thursday’s session and declined another 1.5% in premarket trading on Friday, per Yahoo Finance.