Crypto Giants Eye Public Listings
BitGo and Bullish CEOs emphasize that going public is key to boosting trust in the crypto industry. With shifting regulations, major crypto firms are gearing up for a transformative year.
BitGo CEO Mike Belsche believes that crypto companies going public is essential for building trust in digital assets and fostering relationships with traditional financial institutions.
Speaking on stage at Consensus Hong Kong 2025 on February 19, Belsche emphasized that being a publicly traded company is crucial for engaging with Wall Street.
“If you want to address Wall Street, you’ll need to be a public company,” he stated.
Belsche pointed to past attempts by Wall Street firms to collaborate with private crypto companies, highlighting FTX as a failed example. The now-bankrupt exchange, which collapsed in 2022, recently announced its next round of creditor repayments scheduled for May.
According to Belsche, the financial industry has learned that due diligence, regulatory oversight, and SEC compliance are critical components of building trust in the sector.
“It’s a key part of delivering trust, so it’s inevitable that crypto companies will go public,” he added.
Public Listings as a Symbol of Transparency
Belsche, who co-founded BitGo in 2013, hinted at the possibility of a public offering later this year, though he declined to provide a specific timeline.
Joining him on stage, Bullish CEO Tom Farley—whose exchange is also rumored to be preparing for an IPO—echoed Belsche’s sentiment, emphasizing that public listings could enhance credibility in the crypto industry.
“A listing on a well-respected public market signals a company’s commitment to financial transparency and helps build confidence among investors,” Farley said.
While neither executive confirmed immediate plans for an IPO, both suggested that public offerings could significantly enhance transparency and legitimacy for major crypto firms.
A Shifting Regulatory Landscape
Belsche and Farley also discussed the evolving regulatory environment under Donald Trump’s administration and the GOP-controlled Congress.
“Not only is Trump in office, but both the House and Senate are under Republican control, creating a real opportunity for change,” Belsche noted.
He pointed to pro-crypto appointments at the SEC and CFTC, suggesting that while regulatory shifts may take time, the foundation is in place for major policy changes.
With crypto leaders pushing for greater transparency through public listings and a shifting political landscape favoring digital assets, the industry could be on the brink of a transformative period in 2025.
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