BitGo Trims Workforce by 15% Amid Shift to AI Infrastructure

BitGo, a crypto custody and infrastructure firm, is undergoing restructuring efforts to focus on key areas of growth. The company announced that it will cut nearly 15% of its workforce to concentrate resources on security, trading, stablecoins, settlement, and AI-powered infrastructure.

The move comes after Q1 revenue surged 113% year-over-year to $3.8 billion, but net losses widened to $60.7 million from $25.7 million a year earlier. The company attributed the loss to non-cash mark-to-market adjustments on its Bitcoin treasury and elevated stock-based compensation tied to its January IPO.

BitGo's workforce reduction adds to a growing list of crypto industry job cuts in 2026, following similar reductions at Coinbase and Robinhood. The broader U.S. technology sector has recorded more than 121,500 layoffs from over 200 companies this year, with AI-driven restructuring cited as a common factor across multiple industries.