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At Consensus Hong Kong 2025, BitGo CEO Mike Belsche emphasized that crypto companies going public is crucial to fostering trust in digital assets and engaging traditional finance players.
“One of the things I think, in order to address Wall Street, you’ll [need to] be a public company,” Belsche stated on February 19. He pointed to past interactions between Wall Street and private crypto firms—such as FTX—as cautionary tales, noting that the lack of transparency “didn’t work out so well.”
The collapse of FTX underscored the importance of due diligence, regulatory oversight, and adherence to strict financial processes, Belsche argued. He highlighted that going public would not only provide greater scrutiny but also demonstrate a company’s commitment to compliance, a key factor in earning the trust of institutional investors.
Belsche, who co-founded BitGo in 2013, hinted at a potential public offering for the crypto custodian this year but stopped short of confirming a timeline. Joining him on stage, Bullish CEO Tom Farley—whose crypto exchange is also rumored to be exploring a public listing—agreed that a public market debut would instill greater confidence.
“I think a listing on a public, very well-respected market is a great thing because it demonstrates your willingness to be transparent about your financials, and it provides a lot of confidence,” Farley remarked.
While neither executive directly confirmed IPO plans, their discussion underscored the growing belief that public listings could bring much-needed legitimacy to the industry. By embracing financial disclosures and regulatory scrutiny, crypto firms could position themselves as more reliable players in the broader financial ecosystem.
Additionally, Belsche acknowledged the evolving regulatory landscape, citing the pro-crypto stance of former U.S. President Donald Trump and the GOP-controlled Congress as catalysts for policy reforms. He expressed optimism that regulatory agencies like the SEC and Commodity Futures Trading Commission (CFTC) could soon implement meaningful changes to support the industry.
Also Read: BitGo Unveils Global OTC Crypto Trading Desk Amid IPO Buzz—What It Means for Investors
With crypto firms increasingly eyeing public listings, the industry appears to be at a turning point—one that could determine how it integrates with traditional finance in the years to come.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
