BitGo Cuts 15% of Workforce to Focus on AI and Stablecoins

BTC-2.34%
BitGo announced a 15% workforce reduction on June 26, according to CEO Mike Belshe, as the crypto custodian shifts focus toward artificial intelligence, stablecoins, and security infrastructure. The move comes despite the company reporting Q1 revenue of $3.8 billion, a 112.6% increase year-over-year, though net losses widened to $60.7 million from $25.7 million, primarily due to mark-to-market losses on Bitcoin treasury holdings.
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