BitGo, a leading cryptocurrency custody company, has released its financial results for the first half of 2025 ahead of its planned initial public offering on the New York Stock Exchange (NYSE).
This is reported by Business • Media
Financial Performance and Client Base Growth
In the first six months of 2025, BitGo’s revenue reached $4.19 billion, nearly quadrupling the figure from the previous year. The net profit for this period amounted to $12.6 million. The number of service users grew by 18%, reaching 1.15 million as of June 30, 2025.
Founded in 2013, the company was valued at $1.75 billion in 2023. As part of the IPO, BitGo plans to list under the ticker BTGO, with Goldman Sachs and Citigroup serving as co-organizers.
Collaboration with Governments and Promotion of Stablecoins
In its application submitted to the U.S. Securities and Exchange Commission (SEC), BitGo disclosed that it collaborates with the governments of the U.S., El Salvador, and Bhutan, as well as with organizations linked to political leaders. Specifically, the company is the custodian and infrastructure partner for USD1 — a stablecoin launched by World Liberty Financial in June 2025. This company is associated with the current U.S. president.
“Active criticism of any political leaders or government bodies with whom we have or are perceived to have relationships may lead to increased regulatory scrutiny, public criticism, or accusations of favoritism, conflicts of interest, or undue influence,” the document states.
In July, BitGo had already submitted a confidential request for an IPO, which had been reported as being in preparation since the beginning of the year.
Additionally, the company recently received a license from the German regulator BaFin, allowing it to operate in the EU market as a regulated crypto service. Thus, BitGo has joined players such as Coinbase, Kraken, Bybit, Gemini, and Bitvavo, who already have permission for official operations in Europe.
According to analysts, the fall of 2025 could become one of the most active periods for initial public offerings in the U.S. since 2021. Successful IPOs of companies like Circle, Bullish, and Figure indicate a growing interest from investors in the cryptocurrency sector, which has recently gained several important regulatory advantages.