BitGo acquires NYDIG’s institutional trading business

BitGo reported Q1 revenue of $3.8B, up from last year but down 38.7% sequentially. Net loss widened to $60.7M due to Bitcoin treasury devaluation and IPO costs. Client base grew 42% YoY. BTGO shares fell 1.09% post-earnings. Other crypto firms also reported losses.

BitGo CEO Mike Belshe suggested AMC Entertainment explore tokenized equity to reach global investors, potentially boosting its stock price. BitGo, set to go public as BTGO, could assist in connecting shareholders. AMC CEO Adam Aron criticized Robinhood's tokenized AMC stock, citing lack of voting rights and potential market separation. Robinhood's tokens, backed by AMC stock, have driven a 10-20% stock price surge. The debate highlights the tension between traditional equity and tokenized assets

BitGo opened a Singapore office, now its largest trading desk, with client base and trading volumes up. The company listed on NYSE in 2026, but shares fell to $6.86. Q2 revenue rose 79.6% to $4.3B, but net loss was $19M. Management targets breakeven in Q3.

BitGo acquired NYDIG's institutional trading business for $42.5 million, including cash and stock. The deal expands BitGo's offerings and includes 30 employees and client relationships. BitGo aims to provide full lifecycle digital asset services, leveraging its OCC charter.

BitGo is acquiring NYDIG's institutional trading unit for $42.5M in a cash-and-stock deal. The acquisition aims to expand BitGo's services into derivatives, structured products, and capital markets. NYDIG will focus on its energy and data center division. The deal reflects the growing demand for integrated crypto services among institutional players.

BitGo acquired NYDIG's institutional trading business for $42.5 million, adding derivatives and financing services. The deal includes 30 employees and client relationships. BitGo aims to expand its offerings for professional clients, while NYDIG focuses on Bitcoin mining and data centers.