On June 26, cryptocurrency asset custody firm $BitGo Holdings (BTGO.US)$ CEO Mike Belshe announced today in a post that the company will reduce its workforce by approximately 15%. He characterized this layoff as a one-time adjustment and emphasized that no further reductions are anticipated. Belshe stated that the decision stems from the profound evolution of the crypto ecosystem and fundamental shifts in how financial services are being built. To remain competitive, BitGo must concentrate its resources on its most critical areas, including security, trading, stablecoins, settlement, and AI-driven infrastructure. BitGo is one of the world’s largest institutional digital asset custody providers, offering custody, trading, and wallet infrastructure services primarily to institutional clients. Affected employees have already been notified directly by their respective managers and the human resources department.
BitGo announced a workforce reduction of approximately 15%, focusing on security, stablecoins, trading, and AI infrastructure.
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