Crypto Firms Must Go Public to Gain Wall Street’s Trust

Crypto companies must embrace public listings to gain the trust of traditional financial institutions, according to BitGo CEO Mike Belsche.

Speaking at Consensus Hong Kong 2025 on February 19, Belsche emphasized that going public is essential for integrating digital assets into mainstream finance.

“One of the things I think, in order to address Wall Street, you’ll [need to] be a public company,”

Belsche stated on stage. He pointed to past attempts by traditional firms to collaborate with private crypto companies, citing the downfall of FTX as a cautionary example.

Belsche stressed that Wall Street has learned a crucial lesson that due diligence and compliance with bodies like the Securities and Exchange Commission (SEC) are vital to fostering confidence in the industry.

“It is a key part of delivering trust, so it’s in the destiny [to go public],”

he said.

While Belsche did not provide a definitive timeline, he hinted that BitGo may consider an initial public offering (IPO) later this year.

Joining him on stage, Bullish CEO Tom Farley echoed the sentiment, asserting that a public listing on a well-established stock exchange would reinforce trust in crypto firms.

“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 finances, and it provides a lot of confidence,”

Farley noted.

Belsche and Farley also weighed in on recent regulatory developments, particularly under Donald Trump’s administration and a Republican-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,” Belsche said. He pointed to key pro-crypto appointments at the SEC and the Commodity Futures Trading Commission (CFTC) as signs of a more favourable regulatory environment.

While acknowledging that policy shifts take time, Belsche expressed optimism that the current administration is poised to enact significant reforms benefiting the crypto sector.

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