In the event of Consensus Hong Kong 2025 on February 19, Mike Belsche, the CEO of BitGo, stated that going public is the way to build trust in the financial sector.
“To work with Wall Street, you need to be a public company,” he said. He pointed out that some big firms tried working with private crypto companies before, but it didn’t end well—referring to the collapse of FTX.
According to Belsche, Wall Street has now realized how important due diligence and strong regulations are. “It’s a key part of building trust,” he said, adding that going public is the natural next step for crypto firms.
Although he did not confirm a date, Belsche hinted that BitGo might go public later this year.
Public Listings Bring Transparency
The first companies to go into Bitcoin will send the greatest rewards in terms of brand, balance sheet, and future product opportunities.
— Mike Belshe (@mikebelshe) February 13, 2025
Google should be racing to get ahead of Microsoft, apple, and Amazon on this. https://t.co/GJ1LxPZ7QE
Tom Farley, CEO of crypto exchange Bullish, joined Belsche on stage and agreed with him.
“A public listing on a well-respected market is great because it shows you are open about your financials and builds confidence,” Farley said.
While neither executive confirmed an initial public offering (IPO), they both agreed that public listings would add transparency and credibility to the crypto industry.
Improved Crypto Rules Under Trump
Belsche also discussed changes in cryptocurrency regulation during President Donald Trump’s presidency. He added that since Republicans controlled the House as well as the Senate, there was actually a possibility for good policies to shift.
He also stated that hiring new people at institutions such as the SEC and the Commodity Futures Trading Commission (CFTC) is a victory for the industry. Although changes may take some time, Belsche believes we will see some major moves being made in the near future.
