BitGo cuts 15% of staff in strategic restructuring

Cryptocurrency custody firm BitGo Holdings has laid off approximately 15% of its workforce as part of a strategic restructuring to focus on core business areas. The layoffs, announced by CEO Mike Belshe on Thursday, June 25, 2026, affect an estimated 85 to 90 employees based on the company's reported headcount.

In a public statement, Belshe described the decision as difficult but necessary, framing it as a one-time action intended to sharpen the company's focus. He said the crypto industry's evolution requires a new approach to building financial services and that BitGo must prioritize key areas. The company specified these priorities as security, trading, stablecoins, settlement, and artificial intelligence-powered infrastructure.

The move comes despite BitGo reporting significant revenue growth over the past year, though the company still recorded a net loss. Belshe emphasized that the company does not anticipate further workforce reductions. Concurrently, BitGo's job board lists 51 open roles, indicating a reshaping of teams rather than a full retreat from growth.

BitGo's stock fell 4.67% on the day of the announcement, closing at $4.80. This extends a significant decline from...