BitGo cuts 15% of staff to sharpen focus on AI, stablecoins

BitGo co-founder and CEO Mike Belshe says the layoffs are “a one-time action” and the company doesn’t see the need for further staff reductions.

Crypto infrastructure company BitGo Holdings laid off about 15% of its staff on Thursday as its CEO pledged to focus the company on areas including trading, stablecoins and artificial intelligence.

“Today I'm sharing a hard decision: we are reducing our workforce by nearly 15%,” BitGo co-founder and CEO Mike Belshe posted to X on Thursday. “The ecosystem has evolved, and the way we build financial services has changed dramatically.”

“We need to be sharper, more focused, and concentrate our people and energy on the areas that matter most: security, trading, stablecoins, settlement, and AI-powered infrastructure,” he added.

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