BitGo Dismissed 12% of Employees

The developer of cryptocurrency storage security solutions BitGo cut 12% of its employees at variousdirections, including marketing and sales.

According to BitGo, the company is currently implementingtransition to new products and services. In this regard, it is necessary to make changes to further strengthen the business through the reorganization of the team. A BitGo spokesman confirmed employee reductions:

“BitGo is turning into a company providingfinancial services in the field of digital assets for the institutional market. Our development has accelerated significantly thanks to two acquisitions in recent months. As we enter new markets with new products and services, we make changes to strengthen our business and reorganize our teams.

We made a difficult decision to fire a small number of employees, namely 12% of the total number. Such decisions are always difficult to make, and we are very grateful to our staff for their work. ”

Earlier this week, BitGo acquired the platform.Lumina tax administration, and recently the company bought a platform for the issuance of Harbor token stocks. In March, BitGo launched a cryptocurrency lending service for institutional investors, and earlier announced the opening of regulated units in Switzerland and Germany.

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