BitGo is cutting nearly 15% of its workforce as it refocuses on security, trading, stablecoins, and AI-powered infrastructure. The layoffs come months after its IPO, with shares down 73% from the $18 offering price.
Layoffs at a major crypto custodian signal ongoing industry contraction. The 73% stock decline since IPO and widening losses add to the negative picture, though the company frames this as strategic refocusing.
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