BitGo disclosed on Aug. 12 that Chief Financial Officer Edward Reginelli will leave the company on Sept. 15. Reginelli informed the board on Aug. 10, and the firm said his departure is not related to any disagreement over operations, policies or practices. A formal search for a successor is underway, and Reginelli will remain as an advisor after leaving. The disclosure came alongside BitGo's Q2 2026 results: total revenue rose 79.6% year over year to $4.33 billion, while the company posted a net loss of $19 million, compared with a $38.3 million profit a year earlier. The loss narrowed from the first quarter's $60.7 million deficit. Adjusted EBITDA swung from a $3 million profit to a $4.2 million loss. BitGo also said it cut about 15% of its workforce in June, with restructuring expected to generate roughly $15 million in annualized cash savings. As of the end of June, the company held $159 million in cash and 2,523 self-owned bitcoins worth about $147.7 million, with no corporate debt.
BitGo disclosed on Aug. 12 that Chief Financial Officer Edward Reginelli will officially depart on Sept. 15. Reginelli notified the board on Aug. 10. The company said his exit is not the result of any disagreement with its operations, policies or practices, and it has started a formal search for a successor. After stepping down, Reginelli will continue to advise the firm.
The announcement arrived alongside BitGo's second-quarter 2026 financial report. Total revenue rose 79.6% from the same period last year to $4.33 billion. The bottom line, however, showed a net loss of $19 million, reversing a $38.3 million profit from a year earlier. That loss still marked an improvement from the $60.7 million net loss recorded in the first quarter. Adjusted EBITDA also turned negative, swinging from $3 million in profit to a $4.2 million loss.
BitGo added that it reduced its workforce by roughly 15% in June. The related shifts in investment priorities and operating model are expected to deliver about $15 million in annualized cash savings. As of June 30, the company reported $159 million in cash and 2,523 bitcoins owned by the firm, valued at approximately $147.7 million. It carries no corporate-level debt.
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