SAN DIEGO, May 14, 2026 (GLOBE NEWSWIRE) -- Johnson Fistel, PLLP is investigating whether BitGo Holdings, Inc. (NYSE: BTGO) or certain of its executive officers violated state or federal securities laws. The investigation focuses on investors’ losses and whether they may be recovered under the federal securities laws.
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Background of the Investigation
BitGo completed its initial public offering in January 2026. In connection with the IPO, BitGo promoted itself as an institutional digital asset infrastructure company with scalable platform economics, durable monetization, recurring subscriptions-and-services revenues, and operating leverage.
On May 13, 2026, BitGo reported its first quarter 2026 financial results. Among other things, BitGo disclosed that total revenue declined 38.7% sequentially, digital asset sales revenue declined 39.3% sequentially, Assets on Platform declined from $81.6 billion to $63.0 billion, and Assets Staked declined from $15.6 billion to $11.8 billion. BitGo also disclosed that Adjusted EBITDA declined from positive $12.1 million in the fourth quarter of 2025 to a loss of $1.7 million in the first quarter of 2026.
BitGo further disclosed that it launched a derivatives offering during the quarter, generating approximately $3 billion in notional trading volume, and that “a portion of client activity shifted from spot trading to derivatives products.” The Company stated that, “[b]ecause derivatives revenue is recognized on a net basis, while spot trading revenue is recognized on a gross basis, reported revenue comparisons to prior periods are not directly comparable.”
Additionally, BitGo reported that subscriptions-and-services revenue declined 34.8% sequentially, primarily due to “a lower level of one-time ecosystem projects completed during the quarter,” and acknowledged that “ecosystem project revenue is not recurring in nature.”
Following this news, BitGo’s stock price declined in trading on May 14, 2026.
In light of these disclosures, Johnson Fistel is investigating whether BitGo Holdings, Inc. complied with state and federal laws, including the federal securities laws.
About Johnson Fistel, PLLP | Securities Fraud & Investor Rights
Johnson Fistel, PLLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, Idaho, and Colorado. The firm represents individual and institutional investors in shareholder class actions and derivative lawsuits. Johnson Fistel has been named a Top 10 Plaintiff Law Firm by ISS Securities Class Action Services. In 2024, the firm recovered approximately $90,725,000 for aggrieved investors.
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James Baker, Investor Relations
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