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BitGo Cuts 15% of Workforce, Shares Fall 73% Below IPO Price

2026-06-26 10:22:37

According to CEO Mike Belshe, on Thursday (June 25), BitGo announced it is cutting nearly 15% of its workforce as part of a strategic refocus on security, trading, stablecoins, settlement, and AI-powered infrastructure. The crypto custody and infrastructure company, which went public at $18 per share in January, saw its stock fall nearly 5% on Thursday to close at $4.80, about 73% below its IPO price. Belshe called the layoffs a one-time action and said the company does not anticipate further cuts.

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