News

According to Odaily, crypto asset custody company BitGo Holdings was listed on the New York Stock Exchange on Thursday, with its stock price experiencing significant volatility on its first day of trading. The company's Class A shares (BTGO) surged rapidly after the opening, soaring as much as 36% to $24.50 during the session, but later gave back most of the gains. BitGo's IPO was priced at $18 per share, raising approximately $213 million in total, with the company's overall valuation exceeding $2 billion. By the close, BTGO was at $18.49, up about 2.7% for the day; in after-hours trading, the stock price fell back to around $18.35, essentially returning to the IPO price. Market participants pointed out that the sharp volatility on BitGo's first trading day reflects investors' strong interest and divergent expectations regarding crypto infrastructure companies. Meanwhile, peers such as certain exchanges and custody institutions are reportedly also evaluating the possibility of launching IPOs this year.

Jinse Finance reported that PwC pointed out in its "Global Crypto Regulation Report 2026" that institutional adoption of crypto assets has crossed the "irreversible inflection point," and the focus of discussion has shifted from "whether to adopt" to "how to integrate." The report states that crypto assets are moving from trading and speculative uses to core business functions such as payments, settlements, treasury management, and balance sheet management. Stablecoins and tokenized cash have entered production environments in banks, asset management institutions, and payment companies. PwC emphasized that this shift toward functional financial infrastructure makes it difficult to revert once embedded into core operations. Circle CEO Jeremy Allaire stated at Davos that the adoption of stablecoins in the global banking system is accelerating, and an annual compound growth rate of about 40% is reasonable. ARK Invest also noted in its "Big Ideas 2026" that public blockchains are entering the stage of large-scale deployment, with stablecoins becoming a key bridge connecting traditional finance and on-chain rails.

According to Jinse Finance, OpenAI founder Altman stated that last month the API business added approximately $1 billion in annual recurring revenue (ARR).