BitGo Loses CCO, CFO, and COO in Four Months

BitGo Holdings (NYSE: BTGO) is a digital asset infrastructure company providing custody, staking, trading, stablecoin issuance, and settlement services to institutional clients. It became the first publicly traded, federally chartered digital asset trust bank when it listed on the New York Stock Exchange on January 22, 2026, raising approximately $174 million in IPO proceeds.

Revenue has grown sharply — $16.2 billion for full-year 2025, up 424% year-over-year — but that topline figure is dominated by low-margin digital asset sales activity, and the underlying profitability picture is weaker. Adjusted EBITDA was negative in both Q1 2026 (a loss of $1.7 million) and Q2 2026 (a loss of $4.2 million), compared with gains of $3.9 million and $3.0 million in the respective prior-year periods. Net losses totaled $79.7 million through the first half of 2026. As of June 30, 2026, the company held $159 million in cash and carried no corporate-level debt.

BitGo is also in the early stages of organizational reshaping. In June it cut nearly 15% of its workforce. In August it agreed to acquire NYDIG IF Holdings for up to approximately $57.5 million in combined upfront and contingent consideration. In March its audit committee replaced Crowe LLP as independent auditor with KPMG LLP — a transition that coincided with the company's disclosure of material weaknesses in internal controls over financial reporting.