BitGo is laying off 15% of its workforce. The crypto custody firm is shrinking to refocus on what it sees as its core bets: AI-powered infrastructure and stablecoins.
CEO Mike Belshe outlined the shift Thursday. Going forward, BitGo will concentrate on security, trading, stablecoins, settlement, and AI infrastructure. Everything else is getting trimmed.
The move reflects a broader trend in crypto infrastructure. Custody and wallet services are commoditizing. Stablecoin issuance and settlement are where the margin is moving, especially as institutional adoption accelerates. And AI infrastructure — compute, agent orchestration, on-chain verification — is the new land rush.
Fifteen percent is a significant cut for a company that’s been in expansion mode. BitGo handles custody for a long list of institutional clients, and a headcount reduction raises questions about whether service quality holds. The company hasn’t detailed which teams are affected.
The pivot isn’t surprising. Several crypto firms have made similar moves this year, redirecting resources toward AI-adjacent infrastructure and stablecoin rails. The question is whether BitGo can execute the transition without losing the custody business that pays the bills today.
