BitGo Appoints Former Genesis Managing Director & Co-Head of Trading and Lending Matthew Ballensweig to Head Up its Newly Launched Go Network

Palo Alto, Ca (PRWEB) August 03, 2023 -- BitGo welcomes former Genesis Managing Director & Co-Head of Trading and Lending Matthew Ballensweig.

  • In his new role of Head of Go Network, Ballensweig will spearhead BitGo's newly launched platform, the Go Network, enabling a more efficient institutional marketplace with a focus on the separation of custody and trading.

  • For the first time, institutions can settle USD and crypto on a single platform 24/7 on Go Network.

BitGo, today announced the appointment of Matthew Ballensweig as Managing Director (MD), Head of Go Network, to meet rapidly growing institutional demand for participation in the digital asset industry. He joins from Genesis, where he served as Managing Director and Co-Head of Trading and Lending for the last five years. In his new role, Ballensweig will spearhead BitGo's newly launched platform, the Go Network, enabling a more efficient institutional marketplace with a focus on the separation of custody and trading.

Over the past decade, BitGo has been committed to building institutional-grade digital asset infrastructure services, effectively providing the guardrails to meet the ever-evolving needs of the market and clients. Go Network lays the groundwork for a multitude of different products and services that can be layered over each other. At its core, Go Network allows institutions the ability to access liquidity and securely settle trading transactions across a multitude of venues through one platform, without having to take direct counterparty risk. As a result of this novel workflow, BitGo can ultimately explore adding other products and services on top such as contained credit and derivative markets as it expands its functionality. Go has the ability to catalyze the adoption of digital assets amongst institutional trading firms and hedge funds by creating an ecosystem that balances security and regulated custody with capital efficiency and productivity.

Ballensweig, new Managing Director, Head of Go Network at BitGo, shared, "BitGo is paving the way for institutional adoption of digital assets through their suite of regulated, secure solutions for custody, settlement, and trading. The Go Network is the first platform to offer instant USD and crypto trade settlement with separation of custody and trading. I look forward to leveraging my expertise toward scaling Go Network to drive further institutional adoption of digital assets with a safer, faster and better solution than has previously been available."

Ballensweig is a seasoned financial services executive with trading, credit and capital markets experience across both crypto-native and traditional industries. As Managing Director and co-Head of Lending and Trading at Genesis, he helped build and shape the company’s digital asset prime-services business and forged relationships with many of the leading market-makers, hedge funds, exchanges, lenders and service providers in the digital asset sector. He also helped create a multitude of capital efficient trading solutions and products.

Prior to Genesis, Ballensweig spent over three years at Bridgewater Associates, a large, global, macro hedge fund, where he focused on portfolio research, analytics and insights within the Client Service group. There, he helped service many of the world’s leading buy-side organizations including sovereign wealth funds, endowments and corporate and public pension funds across Bridgewater’s suite of alpha and beta investment products.

“Matt brings a wealth of industry knowledge and market-structure expertise to BitGo having been on the front lines of institutional digital asset trading since 2017,” said Mike Belshe, BitGo CEO. “Matt’s depth of understanding and his client relationships, combined with his vision to enhance liquidity and settlement products, will significantly contribute to the commercialization of Go Network. More importantly, his efforts will fuel a broader adoption of digital assets addressing the essential needs of traders, liquidity providers and exchanges."

About BitGo
BitGo provides the most secure and scalable wallet solutions for the digital asset economy, offering regulated custody, staking and trading, and core infrastructure to investors and builders alike.

Founded in 2013, BitGo pioneered the multi-signature wallet and is the first digital asset company to focus exclusively on serving institutional clients. In 2018, it launched BitGo Trust Company, the first qualified custodian purpose-built for storing digital assets and established BitGo New York Trust in 2021. In 2022, BitGo launched institutional-grade DeFi, NFT and web3 services. BitGo secures approximately 20% of all on-chain Bitcoin transactions by value and supports more than 700 digital assets within its platform. BitGo provides the security and operational backbone for more than 1500 institutional clients in 50 countries, including many regulated entities and the world’s top cryptocurrency exchanges and platforms. For more information, please visit

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.


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