Mike

Gemini

Robinhood

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.”&nbsp;
“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.
The layoffs add to the thousands of jobs lost in the crypto industry so far in 2026, with many companies citing efficiency gains from AI and a wide crypto market slump as the reason for the cuts.<img alt="" height="564" src="https://s3-images.ctmedia.io/media/content/pasted-image-1695.png" width="1100">
Source: <a href="https://x.com/mikebelshe/status/2070240967479996463" rel="noopener noreferrer nofollow">Mike Belshe</a>
BitGo did not confirm the number of staff affected in the layoffs. Its 2025 annual report published in March disclosed it had 603 full-time employees as of Dec. 31, 2025, meaning the layoffs could have impacted about 90 staff.
Belshe said the layoffs were “a one-time action” and BitGo does not “anticipate further reductions.” The company is still hiring for 51 roles across various regions, <a href="https://job-boards.greenhouse.io/bitgo?page=1" rel="noopener noreferrer nofollow">according</a> to its job board.
BitGo did not immediately respond to a request for comment.
Related: <a href="https://cointelegraph.com/news/blockworks-buys-rival-messari-at-fraction-of-2022-valuation" rel="noopener noreferrer nofollow">Blockworks acquires Messari in crypto data consolidation push</a>
Shares in BitGo (BTGO) closed Thursday down 4.67% at $4.80, extending a nearly 73% slide from its public debut at $18 on Jan. 22.
<img alt="" height="461" src="https://s3-images.ctmedia.io/media/content/pasted-image-1696.png" width="674">
Shares in BitGo on Thursday slid more than 4.5% after the company announced it cut 15% of itsstaff. Source:<a href="https://www.google.com/finance/quote/BTGO:NYSE" rel="noopener noreferrer nofollow">Google Finance</a>
Crypto companies have so far cut more than 5,000 jobs this year, with Block Inc. undertaking the biggest round of layoffs by cutting <a href="https://cointelegraph.com/news/jack-dorsey-block-cuts-4000-jobs-ai-restructuring" rel="noopener noreferrer nofollow">4,000 staff</a> or about half its workforce in February.&nbsp;
<a href="https://cointelegraph.com/news/robinhood-cuts-workforce-tenev-strong-business" rel="noopener noreferrer nofollow">Robinhood cut</a> 10% of its workforce on June 16, while in May, crypto exchange <a href="https://cointelegraph.com/news/kraken-parent-payward-cuts-150-staff-potentially-delaying-ipo-report" rel="noopener noreferrer nofollow">Kraken cut</a> 150 staff, data company <a href="https://cointelegraph.com/news/crypto-data-company-dune-cuts-25-of-staff-ai-use-grows" rel="noopener noreferrer nofollow">Dune cut</a> 25% of its workforce and <a href="https://cointelegraph.com/news/coinbase-cuts-14-of-workforce-citing-market-slump-and-ai-shift" rel="noopener noreferrer nofollow">Coinbase cut</a> 700 employees, or about 14% of its workforce.
Earlier this year, Gemini <a href="https://cointelegraph.com/news/gemini-exit-uk-eu-australia-slashes-workforce" rel="noopener noreferrer nofollow">laid off 200</a> employees and Crypto.com also laid off about 180 staff, with both citing the rising use of AI.
So far this year, the wider US technology sector has seen over 121,500 layoffs from over 200 companies, <a href="https://layoffs.fyi/" rel="noopener noreferrer nofollow">according</a> to Layoffs.fyi.
Magazine: <a href="https://cointelegraph-magazine.com/guide-top-emerging-global-crypto-hubs-2026/" rel="noopener noreferrer nofollow">Guide to the top and emerging global crypto hubs: Mid-2026</a>

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

Cointelegraph

Other articles published on Jun 26, 2026

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