Changpeng Zhao–backed YZi Labs has quietly put capital behind BitGo as the crypto custodian made its public-market debut on the New York Stock Exchange, signaling renewed investor interest in regulated digital-asset infrastructure. In a Jan. 23 announcement, YZi Labs head Ella Zhang praised BitGo’s security track record, saying the company has “maintained a hack-free security record for over a decade, a testament to the technical foundation.” Zhang added that as the industry matures, “BitGo’s regulated, institutional-grade infrastructure has become a critical competitive advantage.” YZi Labs did not disclose the size or structure of its investment, but said the decision reflects a belief that U.S.-regulated crypto infrastructure will be “inevitably vital” as institutional capital moves onto digital-asset rails. BitGo, founded in 2013, provides custody, wallet infrastructure, staking and settlement services to more than 5,100 institutional clients across 100+ countries, and says it currently safeguards roughly $82 billion in assets on its platform. The company’s NYSE listing—its the first major crypto IPO of 2026—drew notable market attention. After marketing a range of $15–$17 per share, BitGo priced at $18, raising about $212.8 million and valuing the firm at north of $2 billion. Trading under the ticker BTGO, shares jumped as much as 36% to an intraday high of $24.50 before retreating and finishing the session largely off that peak; the stock traded around $18.35 in after-hours trade at last check. The IPO follows a milestone for the custodial firm last year: conditional approval for a U.S. banking charter that would let BitGo operate as a trust bank, putting it in the company of other regulated crypto firms such as Circle and Ripple pursuing similar charters. YZi Labs—formerly Binance Labs—serves as the family office for Binance co-founders Changpeng Zhao and Yi He and has invested in more than 300 projects across 25+ countries. Other notable backers of BitGo include Goldman Sachs, Valour Equity Partners, Mike Novogratz’s Galaxy Digital, Craft Ventures, DRW, and Redpoint Ventures. In October, YZi Labs also made its first AI investment, leading a funding round for AI video education startup VideoTutor. Read more AI-generated news on: undefined/news

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