“币圈托管机构”BitGo申请IPO，上半年收入近42亿美元，盈利超1200万美元

Group 1 - BitGo Holdings Inc. has officially initiated its IPO process in the context of a vibrant cryptocurrency market, with revenue soaring to nearly $4.2 billion in the first half of 2025, up from $1.12 billion in the same period last year, representing a 275% increase [1] - The company's net profit decreased to $12.6 million, down approximately 59% from $30.9 million in the same period of 2024, indicating a scenario of "increased revenue but decreased profit" which complicates the IPO [1] Group 2 - BitGo's IPO application coincides with a new wave of IPOs in the U.S. cryptocurrency sector, spurred by a favorable stance from former President Trump, leading several crypto companies to accelerate their public listings [2] - Market reactions to these IPOs have been mixed, with Circle Internet Group Inc. seeing its stock price surge by 365% after a $1.2 billion IPO, while Gemini Space Station Inc. experienced a 14% decline in stock price post-IPO, reflecting investor caution towards different business models [2] Group 3 - BitGo has established a significant business scale, with total assets under custody reaching approximately $90.3 billion, serving over 4,600 clients and 1.1 million users, and supporting more than 1,400 types of digital assets [3] - Earlier this year, BitGo launched a global OTC platform to provide spot, options, and margin lending services to clients such as hedge funds [3] Group 4 - According to PitchBook, BitGo's valuation was $1.75 billion in the last round of private financing in August 2023, with the IPO led by Goldman Sachs and Citigroup, planning to list on the NYSE under the ticker "BTGO" [4] - The company's co-founder and CEO, Michael Belshe, will have control over shareholder voting matters [4]