Key ideas from Mike Belshe

• BitGo tripled their TAM in 2024 due to regulatory changes, with potential to double again if the Clarity Act passes
• The company raised $200+ million in their IPO at $18 per share, with 25% allocated to retail investors who showed billions in demand
• BitGo operates as 'crypto as a service' infrastructure, providing technology plus regulatory compliance through APIs to companies like Fold
• The Go Network enables instant settlement between any two BitGo clients globally, replacing services like Silvergate Exchange Network
• BitGo trades 275+ assets today versus only 10 in 2024, reflecting the dramatic shift in SEC regulatory stance
• Mike Belshe views Wall Street as 'Galapagos Islands' - incumbents vulnerable to disruption who don't recognize the innovation threat
• All BitGo custody operates under fiduciary duty protection, unlike most crypto exchanges that lack this institutional safeguard