BitGo workforce cuts nearly 15% as it shifts to AI, stablecoins and settlement

BitGo Holdings announced workforce cuts of nearly 15% as CEO and co-founder Mike Belshe reallocates resources to a tighter operating model. In a June 25 post filed with the U.S. SEC (Form 8-K), BitGo workforce cuts were described as “one-time,” with no further reductions expected. The exact number of roles affected was not disclosed. The late-June update adds context for traders: BitGo reported 603 full-time employees (as of Dec. 31, 2025), implying the near-15% BitGo workforce cuts could equate to roughly ~90 positions. Yet hiring has not stopped—its job board still listed 51 open roles across engineering, compliance, customer success, finance, security and internal audit, suggesting targeted restructuring rather than a broad hiring freeze. Strategic focus is clear: the company says it will concentrate on security, trading, stablecoins, settlement, and AI-powered infrastructure, while stressing this is not an exit from core custody. The move follows BitGo’s public-market debut, with BTGO trading far below its January IPO price, alongside recent financial pressure (Q1 revenue growth, but net loss widening). For traders, the setup is mixed. The BitGo workforce cuts may be a bullish read-through for stablecoin/settlement execution capacity and institutional rails, but near-term uncertainty remains because the stock is underperforming and the cost rebalancing could take time to translate into results.