Bitgo Cuts 15% of Staff in Shift to AI-Powered Crypto Services

Bitgo laid off about 15% of its workforce, trimming roughly 90 employees to refocus the company on security, trading, stablecoins, settlement, and AI-powered infrastructure. The move cuts headcount to nearly 520, CEO Mike Belshe said in a social media post.

“The ecosystem has evolved, and the way we build financial services has changed dramatically,” Belshe wrote. “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.”

Bitgo holds more than $100 billion in digital assets for hedge funds, exchanges, and financial institutions. The company went public in 2026 at $18 a share, raising about $213 million. Shares now trade near $4.80, a decline of more than 70% as market conditions pressure crypto firms.

Coinbase cut 700 jobs in May. Kraken’s Payward shed 150 workers the same month. Belshe said the layoffs are a one-time adjustment and that Bitgo does not expect further reductions.

“To those of you who are leaving: thank you. You helped shape BitGo into what it is today,” he wrote. “I wish you nothing but success ahead.”