The decline is a reflection of a broader decline in investor sentiment towards digital asset-linked stocks. After a wave of crypto IPO enthusiasm last year, bitcoin and cryptocurrency prices have fallen, with attention increasingly focused on artificial intelligence (AI) companies and a pipeline of long-awaited tech IPOs like SpaceX (SPCX).
Several crypto companies, including Kraken and Consensys, have halted their efforts amid turbulent crypto markets.
BitGo provides custody, trading, staking and settlement services for digital assets. It also issues USD1, the US dollar stablecoin linked to Trump’s family-backed World Liberty Financial project.
The firm has also promoted its Germany’s BaFin-regulated infrastructure platform as an option for companies adapting to the EU’s digital asset system, MiCA, ahead of a licensing deadline at the end of the month.
