Major crypto custodian and infrastructure firm BitGo announced that it has cut its staff by 15%, citing changes in the ecosystem.
In a post on social media platform X, BitGo CEO Mike Belshe announced the layoff, explaining that the company needed to adapt to the evolving ecosystem.
"The ecosystem has evolved, and the way we build financial services has changed dramatically," Belshe wrote. "To keep winning for our clients, 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."
Belshe added that the company currently does not anticipate further headcount reductions. The Block has reached out to BitGo for further information on the layoff and future plans.
AI-driven layoffs
