BitGo Slashes Staff by 15% to Double Down on Stablecoins and AI
BitGo is shedding 15% of its workforce, signaling a strategic pivot towards stablecoins and AI-driven infrastructure. This move follows a challenging public debut and aims to sharpen focus on high-margin institutional services.
BitGo is hitting the eject button on 15% of its staff, a clear signal they're ditching the fluff and going all-in on stablecoins and AI-powered infrastructure. CEO Mike Belshe claims this is a one-time purge, but it’s the latest chapter in crypto's ongoing layoff saga. After a rocky IPO in January, the digital asset custodian is under pressure to deliver profits, not just revenue growth. Their 2025 numbers show a massive revenue jump, but a net loss of $14.8 million tells the real story. Expect a leaner BitGo to chase those higher-value institutional plays, especially in the booming stablecoin minting sector.