BitGo, an institutional digital asset custodian, has initiated layoffs affecting about 90 employees as part of a strategic refocus on security, trading, stablecoins, and AI-powered infrastructure, according to CEO Mike Belshe. The reduction brings the company’s total headcount to roughly 520.
Strategic Refocus
The restructuring is aimed at concentrating resources on product areas that BitGo identified as core to its next phase of growth: enhanced security offerings, trading services, stablecoin infrastructure, and AI-driven operational capabilities. The company framed the move as a shift to support areas where institutional demand and operational resilience are most critical.
Workforce Reduction
The layoffs will affect nearly 90 roles across the organization. BitGo did not disclose additional details on the specific teams impacted. Following the cuts, the firm’s workforce stands at approximately 520 employees.
Company Overview
BitGo provides a range of services for institutional clients participating in digital assets, including:
- Custody: Secure storage solutions for digital assets.
- Trading and OTC: Execution and over-the-counter services.
- Staking: Yield generation on supported networks.
- Financing and Settlement: Capital and post-trade services.
Why It Matters
Custody, trading, and stablecoin infrastructure are foundational components for institutions operating in digital assets. BitGo’s pivot suggests a continued institutional focus on security and scalable infrastructure, alongside growing interest in stablecoin use cases and efficiency gains from AI-enabled systems.