According to @julian2kwan, BitGo has filed for an IPO at a $1.85 billion valuation, signaling crypto’s transition toward profitable, regulated infrastructure built for institutions (source: @julian2kwan). According to @julian2kwan, the company is profitable, operates under regulatory oversight, and holds trust-bank approval, highlighting institutional-grade custody and compliance capabilities relevant for market participants assessing infrastructure exposure (source: @julian2kwan). According to @julian2kwan, custody, compliance, and balance-sheet readiness are becoming the real competitive edge, indicating that regulated service providers aligned with institutional requirements may define the next phase of crypto market structure (source: @julian2kwan).