BitGo CEO: Public Listings Are Key to Building Crypto Trust

Mike Belsche, CEO of crypto custody giant BitGo, believes that public listings are crucial for winning over Wall Street and solidifying trust in digital assets. Speaking at Consensus Hong Kong 2025 on Feb. 19, Belsche emphasized that going public adds credibility and aligns with the due diligence standards demanded by institutional investors.

Wall Street Wants Transparency After FTX Collapse

“One of the things I think, in order to address Wall Street, you’ll [need to] be a public company,” Belsche said during his panel discussion. He pointed to the disastrous collapse of FTX , where traditional finance firms attempted to engage with a private, opaque crypto exchange—only for it to end in scandal and bankruptcy.

Since FTX’s implosion, Belsche noted that major financial players have learned the importance of rigorous oversight. Wall Street now prioritizes SEC-compliant businesses with transparent financials, and public listings play a major role in meeting those expectations.

“It is a key part of delivering trust,” he said, hinting that BitGo itself may be considering an IPO but declining to give a specific timeline.

A Shift Toward Public Markets?

Joining Belsche on stage was Bullish CEO Tom Farley, who echoed the sentiment that public listings are a positive step for the crypto industry. Farley, whose own exchange is rumored to be eyeing a public debut, stated that a public listing provides financial transparency and legitimacy—something that has long been a hurdle for the crypto sector.

“I think a listing on a well-respected public market is a great thing because it demonstrates your willingness to be transparent about your financials and builds confidence,” he said.

Although neither executive explicitly confirmed IPO plans, their comments strongly suggest that major crypto firms—especially those seeking to attract institutional capital—are moving toward public offerings.

Crypto Regulation Under Trump

Beyond IPO discussions, the executives touched on the changing regulatory landscape under Trump’s administration . Belsche highlighted that with a GOP-controlled Congress, there is now an opportunity for pro-crypto policy shifts.

“You’ve got Trump, the House, and the Senate controlled by Republicans—so there’s an opportunity to make real change,” he said.

He also pointed to recent pro-crypto appointments at the SEC and CFTC , suggesting that regulatory agencies may ease restrictions and introduce clearer guidelines. While policy shifts take time, Belsche said, “they are ready to go make big changes for sure.”