BitGo layoffs 12% to make business adjustments, aiming to upgrade to an institution-level digital asset financial service provider

Cryptocurrency custodian service BitGo has laid off 12% of its staff for business adjustments and team restructuring. BitGo said in a statement, “BitGo aims to become a digital asset financial services company in the institutional market and has made two acquisitions in the last quarter. As BitGo enters new markets with new products and services, changes are being made To strengthen the business and reorganize the team. ” Lianwen previously reported that BitGo announced this week the acquisition of institutional-level digital asset management platform Lumina, and former Lumina CEO Chen Fang will serve as BitGo’s chief product officer. Through the acquisition of Lumina, BitGo also announced the launch of next-generation wallet platforms BitGo Portfolio and BitGo Tax. At the same time, BitGo announced in February that it had acquired the securities token startup Harbor to enter the digital securities space.