BitGo Q2 Net Loss Hits $19M as CFO Steps Down

BitGo reports Q2 net loss of $19M despite 79.6% revenue surge to $4.33B. CFO Edward Reginelli departs Sept 15; firm holds $159M cash and 2,523 Bitcoin.

Woofun AI reports that BitGo disclosed its chief financial officer, Edward Reginelli, will depart on September 15, with no operational disagreements cited. The firm simultaneously released second-quarter 2026 earnings, showing total revenue rose 79.6% year-on-year to $4.33 billion, yet the company posted a net loss of $19 million, reversing a $38.3 million profit from the prior period. Adjusted EBITDA shifted to a $4.2 million loss from a $3 million profit. BitGo noted it laid off approximately 15% of its workforce in June, expecting $15 million in annual cash savings. As of June 30, the company held $159 million in cash and 2,523 Bitcoin, with zero corporate debt.