Why did BitGo reduce its Bitcoin (CRYPTO) workforce by 15%?

BitGo said the workforce reduction will allow the company to focus more resources on Bitcoin (CRYPTO) infrastructure, security, trading, stablecoins, settlement services and AI-powered products. Chief executive Mike Belshe described the layoffs as a one-time action.

How many employees could BitGo's Bitcoin (CRYPTO) restructuring affect?

Based on BitGo's 2025 annual report, the 15% workforce reduction could affect about 90 employees involved in Bitcoin (CRYPTO) and other business operations. The company had 603 full-time employees at the end of December 2025 but has not confirmed the exact number of layoffs.

What does BitGo's restructuring mean for the Bitcoin (CRYPTO) industry?

BitGo's restructuring reflects a broader trend across the Bitcoin (CRYPTO) and cryptocurrency industry, where companies are reducing costs while increasing investment in artificial intelligence and core infrastructure. Several major crypto firms have announced workforce reductions during 2026.

Why are Bitcoin (CRYPTO) companies continuing to hire despite layoffs?

Some Bitcoin (CRYPTO) companies are reducing headcount in selected areas while continuing to recruit for strategic roles. BitGo said it does not expect further workforce reductions and is actively hiring for 51 positions across multiple regions.

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BitGo cuts 15% of workforce

Q: What areas will BitGo prioritise alongside Bitcoin (CRYPTO) after the layoffs?

BitGo said it will prioritise Bitcoin (CRYPTO) custody and infrastructure, along with trading, stablecoins, settlement services and AI-powered financial technology. The company also said it continues to recruit for 51 open positions.

Written by Liezl GambePublished Jun 26, 2026, 1:56 AM

BitGo has reduced its workforce by about 15% as it shifts resources towards trading, stablecoins and AI-powered infrastructure.
Chief executive Mike Belshe described the layoffs as a one-time action, while the company continues recruiting for dozens of new roles.
The move follows broader job cuts across the cryptocurrency and technology sectors as companies focus on efficiency and artificial intelligence.

BitGo has cut about 15% of its workforce as the cryptocurrency infrastructure company restructures to focus on security, trading, stablecoins, settlement services and AI-powered infrastructure.

“The ecosystem has evolved, and the way we build financial services has changed dramatically,” said BitGo co-founder and chief executive Mike Belshe.

Belshe said the layoffs are intended as a one-time measure and that the company does not expect further workforce reductions, while continuing to recruit for 51 open positions across multiple regions.

Based on BitGo's 2025 annual report, which listed 603 full-time employees at the end of December 2025, the workforce reduction could affect about 90 employees, although the company has not confirmed the exact number.

BitGo shares closed down 4.67% at US$4.80 on Thursday, extending a decline of nearly 73% from the company's public market debut price of US$18 in January.

The announcement follows similar workforce reductions across the cryptocurrency industry this year, including layoffs at Block, Robinhood, Kraken, Coinbase, Dune, Gemini and Crypto.com as companies pursue greater operational efficiency and increased use of artificial intelligence.

According to Layoffs.fyi, more than 121,500 jobs have been cut across over 200 U.S. technology companies so far this year, reflecting broader cost reductions throughout the technology sector.