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BTCC / BTCC Square / Global Cryptocurrency /
BitGo Relocates Headquarters to South Dakota Amid California Tax Concerns

BitGo Relocates Headquarters to South Dakota Amid California Tax Concerns

Author:
Global Cryptocurrency
Published:
2026-01-21 17:14:02
7
1
BTCCSquare news:

Crypto custody firm BitGo has shifted its corporate headquarters from Palo Alto to Sioux Falls, South Dakota, marking a strategic retreat from California's proposed 'Billionaire Tax.' The move, disclosed in December SEC filings, preserves BitGo's Palo Alto office while establishing new jurisdictional roots in the more tax-friendly Midwest.

CEO Mike Belshe's public criticisms of Governor Gavin Newsom escalated in November, comparing California's leadership to dystopian fiction. The relocation coincides with legislative efforts to impose a 5% wealth tax on billionaires—a measure BitGo's executive team has vocally opposed as detrimental to tech innovation.

The company maintains operational hubs across San Francisco, New York, and key international markets including Singapore and Dubai. This geographic diversification precedes BitGo's anticipated IPO, positioning the firm between coastal tech ecosystems and emerging crypto corridors.

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