BitGo, a crypto infrastructure company, has let go of nearly 15% of its staff as it shifts focus to artificial intelligence, stablecoins, trading, and settlement services. CEO Mike Belshe called the layoffs a one-time move to make the company more efficient while still investing in important growth areas. This comes during a tough year for crypto, with thousands of jobs lost as companies adjust to weaker markets and more AI technology.
In a post on X, Belshe said the digital asset industry has changed a lot, so BitGo needs to focus on businesses with better long-term potential. He listed security, trading infrastructure, stablecoins, settlement solutions, and AI-powered financial services as the company’s main priorities from now on.
BitGo did not say exactly how many employees were let go, but its latest annual report showed 603 full-time staff at the end of 2025. That means about 90 people lost their jobs. Even with these cuts, BitGo is still hiring for over 50 roles in different regions, showing that it will keep adding staff in key areas.
This news comes as BitGo’s publicly traded shares keep struggling. The stock dropped after the announcement and has fallen a lot since its debut earlier this year, reflecting the wider weakness in the crypto market.
BitGo’s move is part of a bigger trend in the industry. Many top crypto companies like Coinbase, Kraken, Gemini, Crypto.com, Robinhood, and Dune have also cut staff this year, saying it’s for efficiency and because of tough market conditions. Industry data shows that over 120,000 tech jobs have been lost across hundreds of U.S. companies in 2026.
Layoffs are always tough, but BitGo says this restructuring is meant to make the company stronger in the long run. As digital asset infrastructure changes, BitGo believes focusing on AI-powered services and stablecoin technology will help it get ready for the next stage of crypto market growth.
Today I’m sharing a hard decision: we are reducing our workforce by nearly 15%.
I want to be straight with you about why. The ecosystem has evolved, and the way we build financial services has changed dramatically. To keep winning for our clients, we need to be sharper, more…
— Mike Belshe (@mikebelshe) June 25, 2026
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