BitGo Slashes 15% Workforce, Stock Crashes 70% to $4.8 Amid AI Pivot

According to CEO Mike Belshe, BitGo announced a 15% workforce reduction affecting approximately 90 employees on June 26, with the company refocusing on AI-powered infrastructure, security, trading, stablecoins, and settlement services.

The cuts follow the company's 2026 IPO launch at $18 per share, which raised over $200 million. BitGo's stock has since plummeted to $4.8, down 70%, as market sentiment weighs on crypto firms including Coinbase and Kraken, which have also announced significant layoffs.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments