BitGo lays off 15% of staff to prioritize AI and stablecoins

*BitGo restructures workforce as the crypto custody firm increases investment in AI-driven infrastructure and core digital asset services.*

BitGo has announced a workforce reduction affecting nearly 15% of its employees as the cryptocurrency custody company sharpens its focus on artificial intelligence and its core business operations. The move is part of a broader strategy to strengthen the company's long-term position in the rapidly evolving digital asset industry.

Chief Executive Officer Mike Belshe said the decision reflects significant changes in the financial technology landscape, where AI and automation are reshaping how services are developed and delivered. According to the company, resources will be redirected toward key growth areas, including digital asset security, institutional trading, stablecoin infrastructure, settlement services, and AI-powered platforms.

While BitGo did not disclose the exact number of employees impacted, its previously reported workforce suggests that around 90 positions could be affected. The company emphasized that the layoffs are intended as a one-time restructuring effort and stated that it continues to hire for several strategic roles despite the reductions.

The announcement comes only months after BitGo's public market debut, which valued the company at more than $2 billion. Although the firm has reported strong revenue growth, it continues to navigate increasing competition and rising operational costs across the cryptocurrency sector.

BitGo's restructuring reflects a wider trend across the technology and crypto industries, where companies are streamlining operations while increasing investments in artificial intelligence. As businesses adapt to changing market conditions, many are shifting resources toward emerging technologies they believe will drive future growth and improve operational efficiency.