The U.S. Securities and Exchange Commission (SEC) has said it will not pursue enforcement action against investment advisers and registered funds that use state-chartered trust companies to custody crypto assets, providing temporary clarity in a sector that has long operated in regulatory uncertainty. In a letter issued on September 30, the SEC’s Division of Investment Management responded to a request from Simpson Thacher & Bartlett LLP on behalf of financial advisers. The letter confirmed that, for now ...

The Japanese kimono and textiles maker Marusho Hotta will change its name to Bitcoin Japan at a shareholders meeting next month. In an official Marumasa Hotta release, the firm said the name change will be officially instated at a meeting of shareholders on November 11. Marusho Hotta also announced that the company would change its English name to “Bitcoin Japan Corporation” as it begins stockpiling Bitcoin (BTC). The company first announced its new Bitcoin treasury business operations after a June deal ...

Bolivia crypto adoption is surging exponentially! Automotive companies, sensing an opportunity, are circling in with companies such as BYD, Toyota, and Yamaha, now confirming Tether’s USDT as a viable payment option. This development has occurred as the Latin American nation faces a severe dollar shortage, prompting businesses to seek alternative sources of payment. Tether’s CEO, Paolo Ardoino, on 21 September 2025, in his post on X, mentioned this development as a milestone for the USDT. He described th ...

Core Viewpoint - BitGo, a crypto custody provider, has filed for a U.S. initial public offering (IPO) to capitalize on renewed institutional interest in digital asset infrastructure under a favorable regulatory environment [1] Company Overview - BitGo reported $90.3 billion in assets on its platform as of June 30, 2025, serving over 4,600 institutional clients and 1.1 million users across 100 countries [2] - The company supports custody for more than 1,400 digital assets and offers $250 million in insurance coverage, alongside SOC 1 and SOC 2 audits [2] IPO Structure - The IPO will allow co-founder and CEO Michael Belshe to maintain control through dual-class shares, with Class B shares granting him 15 votes each compared to one vote for Class A stock, qualifying BitGo as a "controlled company" under NYSE rules [3] Regulatory Developments - BitGo's public filing follows its expanded license from Germany's BaFin, allowing it to provide custody, trading, staking, and transfers under the EU's new MiCA framework [4] - The IPO coincides with U.S. and European banks re-entering the digital custody space, with U.S. Bancorp relaunching its crypto custody business and Deutsche Bank planning to offer custody for cryptocurrencies starting next year [5][6] Financing and Valuation - BitGo secured financing with only a minor valuation decrease compared to prior expectations, raising $100 million at a $1.75 billion valuation in August 2024 [7] - The firm had previously raised $42.5 million in a Series B funding round in 2017 [7] Historical Context - BitGo had previously explored going public in 2021 through an acquisition by Galaxy Digital, which was terminated in August 2022 due to BitGo's failure to provide audited financial statements [8]

Crypto custodian BitGo has filed its first public S-1 registration statement with the U.S. Securities and Exchange Commission (SEC), planning to list Class A common stock on the New York Stock Exchange under the ticker BTGO. The filing provides a rare look at the company’s business scale. BitGo generated $4.19 billion in revenue in the first six months of 2025, nearly quadrupling the $1.12 billion recorded in the same period a year earlier. Profitability, however, tightened: net income for the half-year ...

Core Viewpoint - BitGo has filed for an initial public offering (IPO), becoming the first dedicated crypto custodian to seek a listing on a US stock exchange, which signifies a significant step in the integration of traditional capital markets with digital asset infrastructure [1][3]. Company Overview - BitGo, based in Palo Alto, was founded in 2013 and is recognized as one of the most established custody platforms in the crypto industry, currently safeguarding $90.3 billion in digital assets for institutional clients globally [3][9]. - The company plans to trade under the ticker "BTGO" on the New York Stock Exchange [3][9]. Financial Performance - In the first half of 2025, BitGo reported $4.19 billion in revenue, nearly quadrupling year-over-year, with a net income of $12.6 million [4][5]. - Although the net income decreased from $30.9 million a year earlier, the substantial revenue growth indicates increasing demand from financial institutions entering the crypto markets [5]. - For the entirety of 2024, BitGo had reported $3 billion in revenue and $157 million in profit [5]. Market Context - The current market environment, characterized by softer regulatory barriers and heightened institutional adoption, presents a unique opportunity for crypto infrastructure providers to enter the public market [6]. - The momentum for crypto-related public offerings is increasing, with notable listings in 2025, including Circle and Etoro [7][8]. Strategic Partnerships - Goldman Sachs and Citigroup are leading the underwriting for BitGo's IPO [6].

Company Overview - BitGo's revenue nearly quadrupled in the first half of 2025, reaching $4.19 billion, compared to $1.12 billion in the same period the previous year [1][4] - The company reported a profit of $12.6 million for the six months ended June 30, down from a profit of $30.9 million a year earlier [4] - BitGo is one of the largest crypto custody firms in the U.S., founded in 2013, and has gained importance as institutional interest in crypto grows [3] Market Context - The U.S. IPO market is expected to be one of the busiest since 2021, with crypto firms leading the way [1] - Recent successful debuts of companies like Circle, Bullish, and Figure have demonstrated strong investor appetite for digital assets [2] - There is a growing acceptance of digital assets as a legitimate asset class rather than merely speculative instruments [3] Future Plans - BitGo intends to list on the New York Stock Exchange under the symbol "BTGO" [4] - Goldman Sachs and Citigroup are the lead underwriters for BitGo's upcoming IPO [4]

Industry Focus - South Korea's crypto market is rapidly evolving [1] - Blockchain and tokenization are bringing benefits to South Korea [1] Company Collaboration - BDACS is working with Ripple to deliver secure, institutional access to tokenized assets [1] - Ripple Custody is being utilized by BDACS [1] BDACS Overview - BDACS is one of only four licensed crypto custodians in South Korea [1] - BDACS provides access to XRP, RLUSD, and other tokenized assets [1]

Crypto custody firm BitGo said it has confidentially filed for an initial public offering amid a wave of optimism on the digital asset market https://t.co/xaMo17f2aH ...