BitGo Prices IPO at $18, Exceeding Expected Range
As BitGo prepares for its NYSE debut and BlackRock manages significant outflows, the intersection of traditional finance and digital assets faces new pressure from rising inflation forecasts and regulatory shifts. Meanwhile, companies like Strategy and Strive are restructuring their balance sheets to deepen their bitcoin exposure. Stay up on the crypto news that matters with "Crypto Currents," daily from The Fly. Join us at 2 PM ET for your essential briefing on the fast-moving world of cryptocurrency on FlyCast radio.BITGO PRICES IPO ABOVE RANGE AHEAD OF NYSE DEBUT:Institutional demand for crypto custody is reaching the public markets as BitGo prepares to list on the New York Stock Exchange today. The firm priced its initial public offering at $18 per share, exceeding the marketed range of $15-$17. The offering is expected to raise approximately $212.8M and values the company at over $2B. This listing places BitGoalongside other major publicly traded crypto infrastructure players like Coinbase, marking a significant milestone for dedicated digital asset custodians.BLACKROCK SHIFTS FUNDS AMID ETF OUTFLOWS:While new equity enters the market, spot ETFs are seeing capital exit.indicates that U.S. spot bitcoinand etherETFs recorded nearly $1B in combined outflows on Wednesday. Amidst this activity,collected by Arkham Intel reveals that wallets linked to BlackRockmoved over $430M in crypto to Coinbase Prime wallets. The transfers are likely related to redemption settlements rather than discretionary selling, despite the heavy net outflows from their IBIT and ETHA funds.STRATEGY REDUCES CREDIT RISK AS EQUITY VALUE RISES:Corporate treasuries are also adjusting their capital structures to manage volatility., Strategyhas seen its credit risk decline as the value of its perpetual preferred equity, now at $8.36B, has surpassed its outstanding convertible debt. This shift toward permanent capital is intended to reduce refinancing risks associated with its aggressive bitcoin accumulation strategy.STRIVE PROPOSES STOCK SALE TO REPAY DEBT:Following a similar playbook, Striveis leveraging the equity markets to clean up its balance sheet and acquire more digital assets.. The proceeds will be used to repay debt inherited from its acquisition of Semler Scientific and to purchase additional bitcoin, further cementing its position as a bitcoin-treasury company.INFLATION RESURGENCE THREATENS DISINFLATION BETS:These corporate maneuvers come as macro headwinds potentially gather strength. New researchfrom Lazard and the Peterson Institute suggests U.S. inflation could climb above 4% this year. Such a resurgence would challenge the "disinflationary" thesis that has buoyed risk assets, potentially forcing the Federal Reserve to maintain higher interest rates longer than markets anticipate.TOKENIZATION EXPANDS TO TREASURIES AND YIELD FUNDS:Despite macro uncertainty, the tokenization of real-world assets continues to gain traction., F/m Investments is seeking SEC approval to tokenize shares of its $6B Treasury ETF. Concurrently, Nomurasubsidiary Laser Digital has launched a tokenized bitcoin yield fund targeting 5% returns,. Even government entities are exploring the space, with Binance co-founder Changpeng Zhao stating he is in talks with a dozen governments regarding asset tokenization, in comments taken from the World Economic Forum.JPMORGAN DOUBTS ETHEREUM ACTIVITY SPIKE LONGEVITY:In the blockchain infrastructure sector, JPMorganremains skeptical of the recent activity surge on the Ethereum network.that while the "Fusaka" upgrade lowered fees and boosted transactions, analysts at the bank warn that competition from layer-2 networks and rivals like solanaposes a long-term risk to Ethereum's dominance.BANK LOBBY TARGETS STABLECOIN YIELD POLICIES:Regulatory friction between banks and crypto firms continues to heat up in Washington.. Bank of AmericaCEO Brian Moynihan has previously warned of deposit outflows if such digital assets are not strictly regulated, a sentiment echoed by new policy priorities from the banking lobby.PRICE ACTION:As of time of writing, bitcoin was trading at $88,895.99, while ether was trading at $2,937.62,.
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BitGo Launches Compliant Crypto Services Across Europe
- Service Expansion: BitGo Europe GmbH announces the full rollout of its Crypto-as-a-Service (CaaS) across the European Economic Area (EEA), enabling fintechs and banks to rapidly launch compliant crypto products, marking a strategic expansion in the digital asset service sector.
- Compliance Framework: With MiCAR licensing, BitGo's CaaS allows businesses to operate across 30 EEA countries, providing secure user verification and asset management services, thereby enhancing customer trust in compliance and market competitiveness.
- Insurance Coverage: BitGo's custodial wallets are insured up to $250 million, ensuring the security of client assets and further boosting market confidence in its services, which promotes adoption among institutional clients.
- Technology Integration: Businesses can directly embed crypto functionality through BitGo's modular APIs and webhooks, enabling users to buy, sell, and hold cryptocurrencies, enhancing user experience and accelerating the transition into the digital economy.
BitGo CEO to Participate in Digital Assets Symposium
- CEO Participation: BitGo's CEO Mike Belshe is scheduled to participate in a fireside chat at the Canaccord Genuity 6th Annual Digital Assets Symposium on March 10, 2026, highlighting the company's leadership in digital asset infrastructure.
- Live Webcast: The fireside chat will be webcast live and archived on the company's Investor Relations website, ensuring global investors can access real-time information and enhancing corporate transparency.
- Company Background: Since its inception in 2013, BitGo has focused on accelerating the transition of the financial system to a digital asset economy, offering services such as custody, wallets, staking, and trading to thousands of institutional clients worldwide.
- Global Influence: As the first federally chartered digital asset trust bank owned by a publicly traded company, BitGo enjoys a strong reputation in the industry, committed to providing secure and reliable digital asset solutions for financial institutions, exchanges, and platforms.
New Frontier Labs Partners with BitGo to Launch FYUSD Stablecoin
- Strategic Partnership: New Frontier Labs has formed a strategic partnership with BitGo Bank, where BitGo will act as the issuer and primary custodian of FYUSD, aiming to extend U.S. regulatory and custody standards into the Asian digital asset ecosystem.
- Stablecoin Design: FYUSD is a U.S. dollar-backed stablecoin structured in alignment with the GENIUS Act framework, emphasizing transparency, reserve protection, and operational compliance, intended to provide institutional users with a regionally adapted financial infrastructure.
- Market Adaptability: As Asian jurisdictions like Hong Kong, Singapore, and Japan advance their regulatory frameworks for stablecoins, FYUSD is designed to integrate with the financial infrastructure of local banks and fintech platforms, addressing the needs of institutional users.
- Future Vision: The Fypher infrastructure developed by New Frontier Labs positions FYUSD at its core, aiming to realize 'Stablecoin 2.0' by supporting AI-driven systems that autonomously execute financial transactions on a programmable settlement layer, thereby reinvesting economic value into the regional financial ecosystem.
BitGo and Figure Complete Blockchain Equity Trades
- Milestone in Blockchain Trading: BitGo and Figure have successfully completed the first blockchain-native equity trades, marking a significant advancement in regulated market infrastructure for public equities executed through Figure's Alternative Trading System.
- Launch of OPEN: Figure's Onchain Public Equity Network (OPEN), launched in February 2026, enables companies to issue and trade equity directly on blockchain, enhancing transaction transparency and efficiency while modernizing market operations.
- Custodial Assurance: BitGo Bank & Trust serves as a qualified custodian for OPEN, safeguarding assets within a broader trading framework, thereby increasing confidence and risk management capabilities for market participants.
- Cost Reduction Potential: By minimizing layers of intermediated reconciliation, the BitGo-Figure partnership introduces the potential for significantly lower operational overhead and improved capital efficiency, facilitating the transition of traditional market infrastructure to blockchain solutions.
BITGO DESIGNATED AS ISSUER OF FYUSD, INTRODUCING U.S.-BASED STABLECOIN STANDARDS TO ASIA
US-Aligned Stablecoin Standards: The article discusses the introduction of US-aligned stablecoin standards aimed at enhancing regulatory clarity and stability in the cryptocurrency market.
Focus on Asia: It highlights the importance of bringing these standards to Asia, suggesting that alignment with US regulations could foster greater adoption and trust in stablecoins within the region.
Emerging Trends in Blockchain Investment
- Investment Recovery: In 2023, venture capital firms invested approximately $8 billion into crypto and blockchain-related companies, marking the highest level since 2022, indicating sustained interest in blockchain technology despite deal counts remaining below 2022 levels.
- Rise of Traditional Finance: Blockchain technology is gaining recognition from traditional finance, particularly in asset tokenization, with BlackRock founder Larry Fink emphasizing that blockchain will be central to future financial infrastructure, bridging traditional assets with on-chain tokens.
- Funding Dynamics: In the second week of February, 18 projects raised $62 million, with Inference Research alone securing $20 million, reflecting strong investor interest in projects that integrate digital assets with traditional finance, especially those powered by AI solutions.
- Sustainability Focus: Investors are prioritizing projects tied to real economic activities, with Pharos CEO Wish Wu noting that technical depth and capital efficiency are key focuses for investors this year, emphasizing that projects creating real value are more sustainable.
BitGo Launches Compliant Crypto Services Across Europe
- Service Expansion: BitGo Europe GmbH announces the full rollout of its Crypto-as-a-Service (CaaS) across the European Economic Area (EEA), enabling fintechs and banks to rapidly launch compliant crypto products, marking a strategic expansion in the digital asset service sector.
- Compliance Framework: With MiCAR licensing, BitGo's CaaS allows businesses to operate across 30 EEA countries, providing secure user verification and asset management services, thereby enhancing customer trust in compliance and market competitiveness.
- Insurance Coverage: BitGo's custodial wallets are insured up to $250 million, ensuring the security of client assets and further boosting market confidence in its services, which promotes adoption among institutional clients.
- Technology Integration: Businesses can directly embed crypto functionality through BitGo's modular APIs and webhooks, enabling users to buy, sell, and hold cryptocurrencies, enhancing user experience and accelerating the transition into the digital economy.
BitGo CEO to Participate in Digital Assets Symposium
- CEO Participation: BitGo's CEO Mike Belshe is scheduled to participate in a fireside chat at the Canaccord Genuity 6th Annual Digital Assets Symposium on March 10, 2026, highlighting the company's leadership in digital asset infrastructure.
- Live Webcast: The fireside chat will be webcast live and archived on the company's Investor Relations website, ensuring global investors can access real-time information and enhancing corporate transparency.
- Company Background: Since its inception in 2013, BitGo has focused on accelerating the transition of the financial system to a digital asset economy, offering services such as custody, wallets, staking, and trading to thousands of institutional clients worldwide.
- Global Influence: As the first federally chartered digital asset trust bank owned by a publicly traded company, BitGo enjoys a strong reputation in the industry, committed to providing secure and reliable digital asset solutions for financial institutions, exchanges, and platforms.
New Frontier Labs Partners with BitGo to Launch FYUSD Stablecoin
- Strategic Partnership: New Frontier Labs has formed a strategic partnership with BitGo Bank, where BitGo will act as the issuer and primary custodian of FYUSD, aiming to extend U.S. regulatory and custody standards into the Asian digital asset ecosystem.
- Stablecoin Design: FYUSD is a U.S. dollar-backed stablecoin structured in alignment with the GENIUS Act framework, emphasizing transparency, reserve protection, and operational compliance, intended to provide institutional users with a regionally adapted financial infrastructure.
- Market Adaptability: As Asian jurisdictions like Hong Kong, Singapore, and Japan advance their regulatory frameworks for stablecoins, FYUSD is designed to integrate with the financial infrastructure of local banks and fintech platforms, addressing the needs of institutional users.
- Future Vision: The Fypher infrastructure developed by New Frontier Labs positions FYUSD at its core, aiming to realize 'Stablecoin 2.0' by supporting AI-driven systems that autonomously execute financial transactions on a programmable settlement layer, thereby reinvesting economic value into the regional financial ecosystem.
BitGo and Figure Complete Blockchain Equity Trades
- Milestone in Blockchain Trading: BitGo and Figure have successfully completed the first blockchain-native equity trades, marking a significant advancement in regulated market infrastructure for public equities executed through Figure's Alternative Trading System.
- Launch of OPEN: Figure's Onchain Public Equity Network (OPEN), launched in February 2026, enables companies to issue and trade equity directly on blockchain, enhancing transaction transparency and efficiency while modernizing market operations.
- Custodial Assurance: BitGo Bank & Trust serves as a qualified custodian for OPEN, safeguarding assets within a broader trading framework, thereby increasing confidence and risk management capabilities for market participants.
- Cost Reduction Potential: By minimizing layers of intermediated reconciliation, the BitGo-Figure partnership introduces the potential for significantly lower operational overhead and improved capital efficiency, facilitating the transition of traditional market infrastructure to blockchain solutions.
BITGO DESIGNATED AS ISSUER OF FYUSD, INTRODUCING U.S.-BASED STABLECOIN STANDARDS TO ASIA
US-Aligned Stablecoin Standards: The article discusses the introduction of US-aligned stablecoin standards aimed at enhancing regulatory clarity and stability in the cryptocurrency market.
Focus on Asia: It highlights the importance of bringing these standards to Asia, suggesting that alignment with US regulations could foster greater adoption and trust in stablecoins within the region.
Emerging Trends in Blockchain Investment
- Investment Recovery: In 2023, venture capital firms invested approximately $8 billion into crypto and blockchain-related companies, marking the highest level since 2022, indicating sustained interest in blockchain technology despite deal counts remaining below 2022 levels.
- Rise of Traditional Finance: Blockchain technology is gaining recognition from traditional finance, particularly in asset tokenization, with BlackRock founder Larry Fink emphasizing that blockchain will be central to future financial infrastructure, bridging traditional assets with on-chain tokens.
- Funding Dynamics: In the second week of February, 18 projects raised $62 million, with Inference Research alone securing $20 million, reflecting strong investor interest in projects that integrate digital assets with traditional finance, especially those powered by AI solutions.
- Sustainability Focus: Investors are prioritizing projects tied to real economic activities, with Pharos CEO Wish Wu noting that technical depth and capital efficiency are key focuses for investors this year, emphasizing that projects creating real value are more sustainable.
