BitGo files to go public with $90.3 billion in assets under custody, targeting NYSE listing as institutional crypto adoption accelerates under new US policies. Crypto custody firm BitGo has filed for a US initial public offering (IPO), aiming to capitalize on the renewed institutional demand for digital asset infrastructure under the Trump administration. The firm aims to list its Class A common stock on the New York Stock Exchange under the ticker symbol “BTGO,” according to its Form S-1 registration with the SEC dated Friday. The Palo Alto-based company reported approximately $90.3 billion in assets on its platform as of June 30, 2025. Its client base spans over 4,600 entities and more than 1.1 million users across 100 countries. Read more
Strategy's Michael Saylor said that lower Bitcoin volatility benefits “mega institutions” but disappoints thrill-seekers who thrive on price swings. Bitcoin becoming more appealing to institutional investors may come at the cost of the thrill that attracts some retail investors, according to Strategy executive chairman Michael Saylor. “You want the volatility to decrease so the mega institutions feel comfortable entering the space and size,” Saylor told Natalie Brunell on the Coin Stories podcast published to YouTube on Friday. “The conundrum is, well, if the mega institutions are going to enter, if the volatility decreases, it is going to be boring for a while, and because it’s boring for a while, people’s adrenaline rush is going to drop,” Saylor explained. Read more
Economist Timothy Peterson said that the US Federal Reserve's upcoming actions are likely to “jolt Bitcoin and alts up substantially.” Crypto market participants may be underestimating how aggressive the US Federal Reserve will be in shifting its policy direction, according to an economist. “Markets are underpricing the likelihood of rapid rate cuts in the coming months on the part of the Federal Reserve,” economist Timothy Peterson told Cointelegraph on Friday. “There has never been a gradual reduction in rates like that currently envisioned by the Fed,” Peterson said, explaining that he expects “the surprise effect” to kick in and potentially catch the market offside. Read more
Nearly a decade after losing access to his Coinbase account, NBA star Kevin Durant is once again in control of his Bitcoin holdings, according to the exchange CEO. Nearly 10 years after buying Bitcoin on Coinbase, NBA superstar Kevin Durant has regained access to his holdings thanks to a completed account recovery. The news was announced via an X post by Coinbase CEO Brian Armstrong on Thursday evening. “We got this fixed. Account recovery complete!,” Armstrong wrote. Durant, a 15-time NBA All-Star who will suit up for the Houston Rockets this season, shared the story of his lost Bitcoin (BTC) on Tuesday at the annual Gameplan Summit in Santa Monica. Read more
The distribution marks the third payout to creditors of the former exchange as it continues dispensing up to $16.5 billion in funds. The FTX Recovery Trust, the entity overseeing the distribution of funds from the bankrupt crypto exchange, announced a third tranche of distributions to creditors, worth about $1.6 billion. According to a Friday announcement, the distribution is scheduled for Sept. 30, and creditors should receive the funds in their accounts within three business days of the payment date. The third distribution includes a 6% payout for Dotcom Customer claims, a 40% distribution for US Customer Entitlement Claims and a 24% distribution for General Unsecured Claims and Digital Asset Loan Claims. Convenience claims will receive a 120% reimbursement as part of September’s payout. Read more