YZi Labs supports BitGo Nasdaq IPO, betting on regulated crypto infrastructure

GateUser-afe07a92 · 2026-01-23T10:21:33+00:00

YZi Labs made a strategic investment in crypto custody service provider BitGo to support its initial public offering on the New York Stock Exchange. BitGo has maintained a zero-hacker record over the past decade, and emerging regulated crypto infrastructure is seen as a competitive advantage. After the BitGo IPO, the stock price fluctuated, attracting market attention. YZi Labs is operated by the family office of Changpeng Zhao, the founder of a leading exchange, and Yi He, and has invested in over 300 projects.

GateUser-afe07a92

2026-01-23 10:21:33

Abstract generation in progress

Source: Cryptonews Original Title: Changpeng Zhao-backed YZi Labs backs BitGo IPO with strategic investment Original Link: YZi Labs has announced an investment in the crypto asset custody service provider BitGo, which is listed on the New York Stock Exchange.

Key Points

YZi Labs is betting on regulated crypto infrastructure by supporting the IPO of crypto custodian BitGo
BitGo’s first day trading on the NYSE saw fluctuating performance

Ella Zhang, head of YZi Labs, stated in a January 23 announcement: “BitGo has maintained a zero-hacker attack security record over the past decade, demonstrating the robustness of its technical foundation.”

Zhang added: “As the digital asset industry matures, regulated institutional-grade infrastructure like BitGo has become a key competitive advantage.”

While specific investment details were not disclosed, YZi Labs said the investment was based on its belief that as institutional capital increasingly flows into digital assets, the US-regulated crypto infrastructure will become “inevitably critical.”

Founded in 2013, BitGo provides custody, wallet infrastructure, staking, and settlement services to over 5,100 institutional clients across more than 100 countries. The company states that its platform currently safekeeps approximately $82 billion in assets.

BitGo’s public debut attracted widespread market attention, becoming the first crypto IPO in 2026. After a roadshow at a price range of $15 to $17 per share, BitGo’s stock listed at $18, raising approximately $212.8 million, with a company valuation exceeding $2 billion.

At market open, BitGo shares traded under the ticker BTGO surged to an intraday high of $24.50 (a 36% increase), but then retraced nearly all gains. As of the last check, BTGO was trading around $18.35 in after-hours trading.

Last year, the custodian received conditional approval for a banking charter in the US, allowing it to operate as a trust bank alongside other crypto companies like Circle and Ripple.

In addition to YZi Labs, other major supporters of BitGo include Goldman Sachs, Valour Equity Partners, Galaxy Digital (Mike Novogratz), Craft Ventures, DRW, and Redpoint Ventures.

YZi Labs Diversified Portfolio

YZi Labs (formerly a top-tier exchange Labs) is the family office of Changpeng Zhao and Yi He, co-founders of a leading exchange. According to public information, the company has invested in over 300 projects across more than 25 countries worldwide.

In October last year, YZi Labs made its first AI investment, leading a funding round for AI video education startup VideoTutor.

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NoStopLossNut

· 5h ago

Zero hacking attacks sound good, but is it really reliable for IPO to have such large fluctuations on the first day?

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CryptoSourGrape

· 5h ago

If only I had gone all in on BitGo earlier, now watching others eat meat, I can only drink soup...

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rekt_but_not_broke

· 5h ago

Over ten years without a single hacking incident is truly impressive, but can this IPO stay stable? It feels a bit risky with such large fluctuations on the first day.

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LiquidationHunter

· 5h ago

No hacking attacks for over ten years? That data definitely deserves a question mark. Is it true or not? CZ is still optimistic about infrastructure investments this round—smart move. But with BitGo's first-day volatility so high, who dares to say it's stable? Being unhackable for over ten years—is that really impressive, or does no one want to attack it? Is the custody sector about to take off? It feels like the entire ecosystem is laying down infrastructure. Betting on regulation—easy to say, but what if policies reverse? BitGo making it to Nasdaq is a real milestone, but their first-day performance... it's a bit uncertain.

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ApyWhisperer

· 5h ago

BitGo over ten years without a breach, this is true infrastructure, CZ's move is quite good --- Regulated custodians going public, crypto is finally getting serious --- Nasdaq is coming to steal business again, but BitGo can really take the hit --- Ten years without a hacker attack, what does it mean? It shows they are professional, betting on this is right --- Wait, such big fluctuations on the first day? IPO market still unstoppable --- Infrastructure is the key, this round of investment is very rational --- BitGo has survived so long because it is cautious enough, safety first --- CZ is always planning, this person really can’t sit still

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StopLossMaster

· 5h ago

BitGo zero hacking incident sounds a bit suspicious; the crypto world isn't that safe. --- The trend of regulated infrastructure still needs to be followed, but retail investors should be cautious. --- CZ is still playing chess; this move is quite interesting. --- Zero hacks for over ten years? Feels like bragging. --- Going public means safety? Don't be naive, brother. --- The custody sector is indeed the future, but how long BitGo can last is uncertain. --- Another CZ move; this person's chess game is truly different.

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SolidityStruggler

· 5h ago

Claiming zero hacking incidents is overly optimistic... Ten years without an incident doesn't mean it will never happen again.

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