Crypto Custody Firm BitGo Eyes Initial Public Offering
The crypto custody firm raised $100 million at a $1.75 billion valuation in 2023.
Updated Feb 11, 2025, 8:24 p.m. UTCPublished Feb 11, 2025, 8:20 p.m. UTC
What to know:
Alongside a number of other digital asset-related firms, institutional crypto custody company BitGo is considering an initial public offering as soon as this year, according to Bloomberg.
Among the backers of the Mike Belshe-led BitGo are Goldman Sachs, DRW Holdings, Redpoint Ventures and Valor Equity Partners. The company's most recent funding round in 2023 valued it at $1.75 billion.
Other crypto firms mulling an IPO in the wake of bitcoin's move to $100,000 and a friendlier U.S. regulatory environment include exchanges Gemini, Kraken and Bullish (the parent of CoinDesk), and stablecoin issuer Circle.
