Key facts
- BitGo is laying off approximately 90 employees.
- The layoffs represent nearly 15% of BitGo's workforce.
- CEO Mike Belshe announced the workforce reduction.
- The company is refocusing on security.
- The company is refocusing on trading.
- The company is refocusing on stablecoins.
- The company is refocusing on settlement.
- The company is refocusing on AI-powered infrastructure.
Crypto infrastructure provider BitGo has announced a significant workforce reduction, cutting nearly 15% of its staff. The layoffs will affect approximately 90 employees across the company. CEO Mike Belshe communicated the decision, explaining that the restructuring is necessary to sharpen the company's focus on core strategic priorities. These priorities include enhancing security protocols, expanding trading services, strengthening stablecoin operations, improving settlement processes, and investing in AI-powered infrastructure. The company aims to align its resources more effectively with these growth areas within the rapidly evolving digital asset market. This move signals a strategic pivot for BitGo as it navigates the current economic climate and seeks to solidify its position in key segments of the cryptocurrency industry.