BitGo Lays off 15% of Staff in Stablecoin, AI Focus

BitGo has laid off about 15% of its staff, an estimated 90 people, as the crypto infrastructure firm aims to focus on stablecoins and AI-backed infrastructure.

BitGo Lays off 15% of Staff in Stablecoin, AI Focus

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Written by

Jesse Coghlan

staff editor

Reviewed by

Felix Ng

staff editor

Written by

Jesse Coghlan

staff editor

Reviewed by

Felix Ng

staff editor

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

Latest News

Published

Jun 26, 2026

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.

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.

Source:

Mike Belshe

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,

according

to its job board.

BitGo did not immediately respond to a request for comment.

Related:

Blockworks acquires Messari in crypto data consolidation push

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.

Shares in BitGo on Thursday slid more than 4.5% after the company announced it cut 15% of its

staff. Source:

Google Finance

Crypto companies have so far cut more than 5,000 jobs this year, with Block Inc. undertaking the biggest round of layoffs by cutting

4,000 staff

or about half its workforce in February.

Robinhood cut

10% of its workforce on June 16, while in May, crypto exchange

Kraken cut

150 staff, data company

Dune cut

25% of its workforce and

Coinbase cut

700 employees, or about 14% of its workforce.

Earlier this year, Gemini

laid off 200

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,

according

to Layoffs.fyi.

Magazine:

Guide to the top and emerging global crypto hubs: Mid-2026

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s

Editorial Policy

and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

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