BitGo Trims Workforce by 15% to Pivot Toward AI and Stablecoins

The reduction, which affects approximately 90 positions based on the firm's year-end headcount of 603, is described by Belshe as a one-time measure to sharpen the company’s competitive edge. In a disclosure filed with the U.S. Securities and Exchange Commission, Belshe noted that the digital asset landscape has shifted, necessitating a leaner, more specialized approach to financial services. While employees in affected roles have already been notified, the firm continues to list 51 open positions across global hubs including the U.S., Singapore, and Dubai, signaling that the move is a reallocation rather than a total hiring freeze.

Financial pressure remains a looming factor for the newly public company. BitGo shares closed at $4.80 on June 25, a significant drop from the $18 price point set during its January IPO. Despite a 112.6% surge in first-quarter revenue to $3.77 billion, the company reported a widened net loss of $60.7 million. By concentrating its workforce on security, trading, and AI-powered infrastructure, leadership aims to demonstrate to investors that the firm can sustain its expansion into institutional DeFi and settlement services while managing mounting operational costs.