BitGo Cuts Nearly 15% Of Staff To Focus On Stablecoins And AI

BitGo is cutting nearly 15% of its workforce as CEO Mike Belshe moves the public crypto custody company toward a narrower set of growth priorities. The reduction affects employees across the business and has been framed by management as a one-time action.

Belshe said the financial-services stack around digital assets has changed, forcing BitGo to concentrate people and resources around security, trading, stablecoins, settlement and AI-powered infrastructure. The message was also attached to a BitGo 8-K, putting the restructuring into the company’s public investor disclosure trail.

The cut comes months after BitGo became a public company under the BTGO ticker. Its earlier IPO filing gave investors a rare look at the company’s scale, including $4.19 billion in first-half 2025 revenue and more than $90 billion in crypto assets on platform.

Stablecoins And Settlement Move Up The Stack

The restructuring does not point to BitGo leaving core custody. It points to a sharper operating model around the areas where crypto infrastructure companies are trying to earn institutional demand: secure asset storage, trading access, settlement rails, stablecoin infrastructure and automated systems that can reduce operational load.

Stablecoins are now central to that strategy. Custodians, exchanges and payment companies are competing to sit behind token issuance, reserve management, institutional settlement and regulated money movement. BitGo’s decision to keep stablecoins near the center of its staffing reset shows where the company expects client demand to move next.

AI infrastructure is the other explicit priority. For a custody and settlement business, that can mean more automation around operations, risk monitoring, client workflows, compliance review, reconciliation, security alerts and internal engineering. The staff cut shows how public crypto companies are trying to fund those systems while keeping costs under control.

Crypto Layoffs Keep Hitting Growth Teams

BitGo is not alone in linking headcount cuts to a narrower product strategy. Coinbase recently cut about 14% of its workforce as Brian Armstrong pushed an AI reset across engineering, management layers and internal operations.

Polygon also cut around 30% of staff while shifting deeper into stablecoin payments after acquisitions, making stablecoins part of another major crypto restructuring. Outside crypto, major banks have also been preparing for AI-related workforce pressure as automation changes hiring needs across finance.

The pattern is becoming clearer across digital-asset companies. Firms are cutting teams that do not fit their next operating model while keeping capital and hiring attention on stablecoins, payments, custody, settlement, tokenization and AI-assisted infrastructure. The cuts are not only a reaction to market weakness. They are also a signal that management teams expect smaller teams to handle more of the financial-services stack through automation.