BitGo’s IPO: Because Who Doesn’t Want to Cry Over Crypto? 💸📉

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So, BitGo, this U.S.-based crypto custody firm (because apparently, someone needs to hold onto all those digital coins), has revealed in its latest SEC filing that its revenue for the first half of 2025 was a whopping $4.19 billion. Yes, billion. That’s almost four times what it made the year before. Net profit? A casual $12.6 million. Because, you know, just a drop in the digital ocean. 🚀💰

This little disclosure conveniently coincided with BitGo filing an S-1 registration statement to go public via an IPO. They’re planning to list on the NYSE under the ticker symbol BTGO (pronounced “Bit-Go-Oops”?), with Goldman Sachs and Citigroup tagging along as underwriters. Because nothing says “trust us” like Wall Street giants steering the ship. 🏦📈

The SEC filing, made public on September 20, 2025, covers finances from 2022-2024 and the first half of 2025. BitGo claims it wants to raise capital, give investors liquidity (read: a quick exit strategy), and maybe ride the wave of its “strong financial performance.” Translation: “We’re doing well, so please buy our stock before the crypto bubble bursts again.” 🎢📉

But wait, there’s more! As part of the SEC’s Project Crypto program (because everything needs a cool project name), BitGo executives-CEO Mike Belshe and VP of Corporate Development J. Baylor Myers-met with SEC Chairman Paul Atkins on September 12. The agenda? Updating custody rules for digital assets and beefing up cybersecurity. Because nothing screams “trustworthy” like a meeting to discuss how to protect your private keys. 🗝️🔒

So, there you have it. BitGo’s IPO: where crypto meets Wall Street, and everyone pretends they understand what’s going on. 🙃📊

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2025-09-20 11:37