bitgo

According to Cointelegraph, cryptocurrency infrastructure company BitGo Holdings announced layoffs of about 15%. BitGo co-founder and CEO Mike Belshe stated that this move aims to optimize team structure and focus resources on core areas such as security, trading, stablecoins, settlement, and AI-driven infrastructure.According to data disclosed in BitGo's annual report (with a total of 603 full-time employees by the end of 2025), this round of layoffs may involve about 90 people. Belshe described this as a "one-time adjustment" and does not expect further job cuts in the future. Affected by related news and the overall downturn in the cryptocurrency market, BitGo's stock price (BTGO) fell 4.67% to $4.80 on Thursday, down nearly 73% from its issuance price of $18 when it went public in January this year.

According to Onchain Lens monitoring, after a month of silence, a giant whale withdrew 96,930 HYPE ($6.01 million) from BitGo. The wallet currently holds 139,206 HYPE ($8.60 million).

According to Onchain Lens monitoring, two newly created wallets withdrew 35,138 ETH ($58.39 million) from BitGo and Kraken, which may belong to Bitmine.

According to Onchain Lens monitoring, a wallet that had been inactive for a year has awakened and received 500 BTC ($32.31 million) from BitGo. In addition, Morgan Stanley received 166.24 BTC ($10.74 million) from Coinbase and currently holds 4,515 BTC ($288.4 million).

Digital asset infrastructure provider BitGo (BTGO) announced a $50 million stock buyback plan on Wednesday, causing its stock price to rise by as much as 20%. The plan allows BitGo to repurchase up to $50 million of its common stock through open market purchases, privately negotiated transactions, and block trades, accounting for approximately 8% of its outstanding shares. The company stated that the plan is effective immediately and has no fixed expiration date.Despite the stock price increase on Wednesday, BitGo's stock is still down about 65% from its listing on the New York Stock Exchange in January of this year. The IPO issue price was $18, and the recent trading price is around $6.07. The decline in BitGo's stock price reflects a general weakening of investor sentiment towards digital asset-related stocks. Following last year's IPO boom for crypto companies, the prices of Bitcoin and cryptocurrencies have fallen, and market attention has gradually shifted towards AI companies and the anticipated IPO pipeline of tech companies like SpaceX (SPCX). Several crypto companies, including Kraken and Consensys, have paused their IPO efforts amid the volatility in the crypto market.

As the final deadline for the European MiCA regulatory transition period approaches, BitGo, regulated by Germany's BaFin, announced that its Crypto-as-a-Service platform provides a more convenient MiCA compliance pathway for European crypto businesses, eliminating the need to build an independent compliance operation from scratch. Companies only need to connect their existing wallets to the BitGo wallet system and complete KYC work that meets MiCA requirements, allowing customer assets to be stored in compliant segregated custody accounts. Meanwhile, companies can still apply for their own CASP license in parallel.In terms of costs, BitGo CEO Mike Belshe stated that the fees are relatively low, with a minimum monthly fee of around several thousand dollars, and two options for billing: based on transaction volume or a fixed rate. According to legal firm Hogan Lovells, as of May 2026, there will only be 194 authorized CASPs in Europe, and it is expected that about 75% of the pre-registered crypto businesses under MiCA will lose their registration eligibility after the transition period ends.

According to Arkham monitoring, a newly created whale address 0x17A withdrew approximately $41 million in Ethereum from the custodian BitGo. This fund inflow pattern shares similar characteristics with the previous buying behavior of Bitmine, led by Tom Lee, and has sparked market speculation about "institutional continuous buying."

According to Lookonchain monitoring, three newly created wallets withdrew 737.7 BTC ($45.6 million) from BitGo.

According to Onchain Lens monitoring, a suspected Bitmine wallet withdrew 25,000 ETH from BitGo, worth 40.93 million USD.

According to on-chain analyst Onchain Lens (@OnchainLens), despite the Humanity Protocol suffering a hacking attack, a newly created wallet still received 62.68 million H from BitGo, worth approximately 7.65 million USD. Onchain Lens stated that the wallet may belong to VC Framework Ventures, but this affiliation has not yet been verified.

According to Onchain Lens monitoring, Multicoin Capital deposited 56.116 million ENA (5.28 million USD) into Galaxy Digital and BitGo.

According to Ember Monitoring, Bitmine (0x873...3bB9) continued to increase its holdings by 25,000 ETH through BitGo in the early morning, worth 47.98 million dollars.

According to monitoring by Lookonchain, whales are accumulating BTC. Two newly created wallets withdrew 984 BTC from BitGo, worth 72 million dollars.

Mike Novogratz, the founder of Galaxy Digital, stated in court at the Delaware Chancery Court that the U.S. Securities and Exchange Commission (SEC) made it very difficult for the company’s $1.2 billion merger plan with BitGo in 2021. This merger was the largest cryptocurrency merger plan at the time. Galaxy Digital canceled the deal in August 2022, and BitGo is seeking $100 million in termination fees from Galaxy Digital.Mike Novogratz indicated that regulatory approval was unlikely to be achieved and that BitGo failed to provide the required financial information on time, thus losing the right to the $100 million termination fee. BitGo CEO Mike Belshe stated that BitGo had provided all necessary information. The trial is expected to conclude this week, and the judge will decide whether BitGo is entitled to the $100 million fee.

According to Bloomberg, Galaxy Digital founder and billionaire Michael Novogratz confronted BitGo Holdings CEO Mike Belshe in court this week over a four-year merger dispute.BitGo is seeking at least $100 million in damages from Galaxy, stemming from Galaxy's proposed $1.2 billion acquisition in 2021—at the time the largest merger deal in the history of the crypto industry—which ultimately fell through due to the collapse of the crypto market. BitGo alleges that Galaxy failed to make reasonable efforts to push the deal to completion and concealed relevant details about investigations by U.S. authorities, which could significantly impact the completion of the merger.

Digital asset infrastructure company BitGo Holdings (NYSE: BTGO) recently released its first quarterly report since going public. In the first quarter of 2026, the company reported total revenue of $3.77 billion, a year-on-year increase of 112.6%, mainly driven by the expansion of its digital asset business and growth in stablecoin-as-a-service revenue.However, GAAP net loss widened from $25.7 million in the same period last year to $60.7 million, due to a non-cash market value adjustment of approximately $53.7 million on Bitcoin holdings and increased equity incentive expenses related to the IPO. Adjusted EBITDA recorded a loss of $1.7 million, compared to a profit of $3.9 million in the same period last year.During the quarter, BitGo launched its derivatives business in January, generating approximately $3 billion in nominal trading volume. Since derivatives revenue is recognized on a net basis while spot trading is recognized on a gross basis, revenue decreased by 38.7% quarter-on-quarter. The number of customers increased by 42% year-on-year to 5,569. As of the end of the quarter, the company held 2,449 Bitcoins and $186.6 million in cash.

According to Onchainlens monitoring, 2 newly created wallets received 312 bitcoins from BitGo in the past 24 hours, worth approximately 23.62 million dollars.

According to Onchain Lens monitoring, a newly created address (0x70d...d318) received 25,000 ETH from BitGo, worth 57.13 million USD. This address may belong to Bitmine.

According to on-chain analyst Onchain Lens, three newly created wallets withdrew 100,000 ETH from BitGo, worth approximately $234 million, suspected to be related to Bitmine.

According to Lookonchain monitoring, three addresses suspected to be associated with Tom Lee's Bitmine (0xB6a8...9c9E, 0xc2e0...2831, 0x4e5C...276c) received 100,000 ETH from BitGo, worth $233.7 million.