BitGo Joins Crypto's AI Layoff Wave, Slashing Staff by 15%
BitGo is cutting nearly 15% of its workforce as it shifts toward AI-driven operations. CEO Mike Belshe said the company is refocusing on security, trading, stablecoins, settlement, and AI-powered infrastructure, and described the layoffs as a one-time move with no expected further cuts. Based on its reported 603 full-time employees, the reduction likely affects about 90 jobs. The cuts come shortly after BitGo’s January IPO, which raised about $213 million at $18 a share and valued the company above $2 billion. Despite strong first-quarter revenue growth, the stock fell nearly 5% Thursday to $4.80, far below the IPO price. BitGo joins a broader wave of crypto and tech layoffs in 2026, with firms including Block, Coinbase, Dune, and Robinhood also reducing staff amid growing emphasis on automation and AI.
