BitGo Appoints Adam Sporn as Head of US Institutional Sales

Former State Street Sales Executive Brings Over Two Decades of Prime Brokerage and Securities Lending Sales Experience

PALO ALTO, CA, June 23, 2022 - BitGo, the leader in digital asset financial services, today announced the appointment of Adam Sporn as Head of US Institutional Sales. Mr. Sporn joins from State Street, where he served as Managing Director. In his new role, Mr. Sporn will lead a US institutional sales team that provides clients with regulated, insured, and qualified custody, as well as financing and execution services through a single platform. Since 2020 BitGo offers market leading trading, lending, and borrowing services through its prime brokerage services.

Mr. Sporn is a seasoned financial sales executive with over 20 years of experience in facilitating senior securities finance and prime brokerage sales. Most recently, Adam was a Managing Director at State Street, where he served as a senior salesperson for the firm’s Enhanced Custody program that offers bank financing solutions to hedge funds, mutual funds, pensions and family offices, as an alternative to Prime Brokerage. Prior to joining State Street, Mr. Sporn was a Managing Director and Head of Business Development and Relationship Management for BNY Mellon's principal financing program, Borrow Plus, a Prime Brokerage alternative that he helped bring to market. from concept to market through his four years at BNY Mellon. He previously spent 11 years at Morgan Stanley, working with the firm’s Prime Brokerage and Securities Lending Groups.

“Adam brings a wealth of industry knowledge and experience to BitGo vital for our future growth,” said Mike Belshe, BitGo CEO. “Adam will help us to further scale BitGo’s leading prime brokerage capabilities and strengthen our position as the preferred digital asset partner for institutional clients.

About BitGo

BitGo is the first digital asset company that has been focused exclusively on serving institutional clients since 2013. BitGo provides institutional investors with custody, liquidity, and security solutions. Active in both centralized and decentralized finance, BitGo offers market leading trading, lending, and borrowing services through its prime brokerage services and acts as the custodian for WBTC, the leading global stablecoin for Bitcoin.

In 2020, BitGo launched BitGo Portfolio and Tax, providing clients with a full-stack solution for digital assets. In 2018, it launched BitGo Trust Company, the first qualified custodian purpose-built for storing digital assets. BitGo processes approximately 20% of all global Bitcoin transactions, and supports over 500 coins and tokens. BitGo’s customer base includes the world’s largest cryptocurrency exchanges and institutional investors and spans more than 50 countries.

Disclaimer

The information in this press release is not an offer to sell or solicitation of an offer to buy an interest in any investment or for the provision of any investment management or advisory services. Custody services are offered through BitGo Trust Company, a South Dakota chartered trust company. BitGo is not registered with the SEC as an investment advisor or custodian, and does not offer legal, tax, investment, or other advice. Please consult your legal/tax/investment professional for questions about your specific circumstances.

BitGo Trust Company, BitGo Inc., and BitGo Prime LLC are separately operated, wholly-owned subsidiaries of BitGo Holdings, Inc., a Delaware corporation headquartered in Palo Alto, CA.

Contact

At BitGo:
press@bitgo.com

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