BitGo CEO Advocates for Public Offerings to Boost Trust in Digital Assets

Mike Belsche, the CEO of BitGo, a leading crypto custody firm, recently emphasized that going public is essential for crypto companies to build trust and credibility in the digital asset space. Speaking at the Consensus Hong Kong 2025 event on February 19, Belsche argued that listing on public markets is crucial for addressing Wall Street and establishing transparency, particularly in the wake of high-profile crypto failures such as FTX.

“To address Wall Street, you’ll need to be a public company,” Belsche said, highlighting the importance of regulatory oversight and diligence. He referenced the collapse of FTX, the now-bankrupt crypto exchange, which had initially sought to engage with Wall Street before its downfall. “Wall Street has learned that diligence really matters,” he added, underscoring that transparency and proper regulatory processes, such as those enforced by the Securities and Exchange Commission (SEC), are vital to gaining trust.

Belsche, who co-founded BitGo in 2013, hinted at the possibility of a public offering for the company but did not provide a specific timeline. The comments come amid growing speculation about BitGo’s future and the broader trend of crypto firms considering IPOs as a way to enhance credibility and trustworthiness in traditional financial markets.

Joining Belsche on stage was Bullish CEO Tom Farley, whose crypto exchange is also reportedly preparing for a public listing. Farley echoed Belsche’s sentiment, agreeing that going public is a significant step toward demonstrating transparency. “A listing on a public, well-respected market is a great thing because it demonstrates your willingness to be transparent about your financials and provides a lot of confidence,” Farley said.

While neither CEO directly confirmed plans for an initial public offering (IPO), both leaders suggested that public listings could bring vital transparency and credibility to the crypto industry, which is still grappling with reputational challenges following the collapse of major players like FTX and the ongoing regulatory uncertainties.

Belsche also discussed the impact of regulatory changes under the Trump administration, noting significant improvements in crypto regulation due to pro-crypto appointments at the SEC and the Commodity Futures Trading Commission (CFTC). “Not only do you have Trump, of course, but you’ve got the House and Senate controlled by the Republicans, so there’s an opportunity to make real change,” he said. Belsche believes that while policy moves may take time, there is a clear push from regulators to make significant reforms that will benefit the crypto industry.

As the conversation around public offerings for crypto firms intensifies, Belsche and Farley’s remarks signal that major players in the sector are looking for ways to gain legitimacy in traditional financial markets. The push for increased transparency and regulatory clarity could pave the way for more crypto firms to consider IPOs in the near future.