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BitGo Mulling IPO This Year: Bloomberg
The crypto custody firm raised $100 million at a $1.75 billion valuation in 2023.
Updated Feb 11, 2025, 8:24 p.m. Published Feb 11, 2025, 8:20 p.m.
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.
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Stablecoin Adoption Is ‘Exploding' — Here's Why Wall Street Is Going All-In
Alchemy co-founder and president Joe Lau said stablecoin adoption is exploding as banks, fintechs and payment platforms push beyond the USDT/USDC exchange era.
What to know:
- Stablecoin usage is quickly broadening from crypto-native exchanges into payments, payroll and treasury as companies chase 24/7, digital-native settlement, according to Alchemy Co-founder and President Joe Lau.
- Banks are pushing tokenized deposits as a regulated, bank-native alternative that delivers stablecoin-like benefits for institutional clients.
- The endgame is a two-track system — stablecoins for open, two-party settlement; deposit tokens for bank ecosystems, until scale forces convergence and competition, Lau said.
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