BitGo CEO Mike Belshe has said that crypto companies going public are key to drumming up trust in digital assets and addressing traditional finance players.
“One of the things I think, in order to address Wall Street, you’ll [need to] be a public company,” Belshe said on stage on Feb. 19 at Consensus Hong Kong 2025.
He added that some Wall Street firms previously tried to interface with private crypto companies, mentioning FTX as an example that “didn't work out so well.” The bankrupt crypto exchange recently announced its next creditor repayment round slated for May.
Belshe added that Wall Street has learned that “diligence really matters,” as does the processes and regulatory oversight of the Securities and Exchange Commission.
“It is a key part of delivering trust, so it’s in the destiny [to go public],” he said.
Belshe co-founded crypto custodian BitGo in 2013 and hinted at a possible pubic offering later this year but said he wouldn’t comment on a timeline.
Bullish CEO Tom Farley — whose crypto exchange is also reportedly gearing up for a public offering — joined Belshe on stage and agreed with the BitGo co-founder.
“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,” he said.
Neither executive directly confirmed plans for an initial public offering, but both suggested public listings would benefit the crypto industry by adding transparency and credibility to major players in the space.
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The executives also commented on the significant improvement in crypto regulation under Donald Trump’s administration and a fresh, GOP-controlled Congress.
“So not only do you have Trump, of course, you’ve got the House and the Senate controlled by the Republicans, so there’s an opportunity to make real change,” Belshe said.
He added that pro-crypto appointments at the SEC and Commodity Futures Trading Commission are positive and policy moves might take time, “but they are ready to go make big changes for sure.”
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Additional reporting by Ciaran Lyons.