BitGo Cuts Jobs to Prioritize AI and Stablecoins

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Crypto custody and infrastructure firm BitGo will cut almost 15% of its workforce to redirect focus to other fields, according to the CEO.

CEO Mike Belshe said on Thursday that this is “a one-time action,” and that the company doesn’t “anticipate further reductions.”

With this, BitGo has joined a long list of companies slashing job numbers, and for similar reasons as well.

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How many jobs are gone?

However, it’s not clear how many jobs the company cut exactly. We can only make estimates. The 2025 annual report to the US Securities and Exchange Commission (SEC) noted 603 employees, which means that the cut reduced the number by some 90 jobs.

Meanwhile, BitGo went public in late January 2026, debuting on the New York Stock Exchange (NYSE) under the ticker symbol BTGO. It priced its IPO at $18 per share and raised approximately $212.8 million.

Over the past day, the price decreased by 0.24%, standing at $4.8 on Friday. It’s down 4.7% in five days, 20% in a month, and 74% in the past 6 months.

Refocusing on ‘AI-powered infra’

As to why this decision was made in the first place, Belshe noted the change in the ecosystem, as well as in the way financial services are being built. He continues:

“To keep winning for our clients, we need to be sharper, more focused, and concentrate our people and energy on the areas that matter most: security, trading, stablecoins, settlement, and AI-powered infrastructure.”

BitGo is far from the only company letting go of staff this year. Some of the biggest examples include Jack Dorsey’s Block removing 4,000 jobs in February, or some 40% of its workforce. Coinbase cut 14% of its workforce, or 700 jobs, in May.

Both of these companies decided to make major slashes in order to aggressively restructure the company around artificial intelligence. AI keeps changing how crypto companies operate on numerous fronts.