Following the footsteps of major cryptocurrency companies like Block (NYSE: XYZ), Ethereum Foundation, Coinbase Global (Nasdaq: COIN), and MARA Holdings (Nasdaq: MARA), another firm has decided to fire staff.

Launched in 2011, BitGo Holdings (NYSE: BTGO) is a crypto infrastructure company best known for its self-custody, regulated trust, and prime brokerage services for institutional clients.

It made a stunning public debut in January this year, but the stock’s price has declined more than 60% since then.

Related: Michael Saylor breaks silence as Strategy stock sinks

BitGo reduces 15% of workforce

BitGo co-founder and CEO Mike Belshe announced on June 25 that the firm is…