BitGo is cutting about 15% of its staff as the crypto infrastructure firm sharpens its focus on artificial intelligence, stablecoins and trading.
CEO Mike Belshe called it a “one-time action” and said the company doesn’t expect further layoffs. BitGo had around 603 employees at the end of 2025, so roughly 90 people are affected.
“The ecosystem has evolved, and the way we build financial services has changed dramatically,” Belshe wrote on X. The company is still hiring for 51 open roles.
The move reflects a broader trend. Crypto companies have slashed more than 5,000 jobs this year alone. Block Inc. cut 4,000 staff in February. Robinhood trimmed 10% in June. Kraken, Dune, Coinbase and Gemini have all made similar moves, citing AI efficiency gains and a prolonged market downturn.
BitGo shares closed down 4.67% at $4.80 on Thursday, extending a 73% slide from its January IPO price of $18.
