Executive Accountability: Chief Revenue Officer Chen Fang Signed BitGo’s Registration Statement That Allegedly Concealed the True Severity of Digital Asset Price Risks, Contributing to Investor Losses
NEW YORK, July 28, 2026 (GLOBE NEWSWIRE) — SueWallSt notifies investors that Chen Fang, BitGo Holdings, Inc.’s (NYSE: BTGO) Chief Revenue Officer and Director, is named as an individual defendant in a securities class action filed on behalf of shareholders who purchased BitGo securities between January 22, 2025 and May 13, 2026. Find out if you might be eligible to recover losses. You may also contact Joseph E. Levi, Esq. at [email protected] or (888) SueWallSt.
BitGo shares debuted at $18.00 in the January 2026 IPO, raising over $187.58 million. Following corrective disclosures revealing a $14.8 million net loss for 2025 and a $60.7 million net loss for Q1 2026, shares fell as low as $7.67.
Chen Fang’s Role During the Class Period
The complaint identifies Chen Fang as BitGo’s Chief Revenue Officer at all relevant times, a position that placed him at the center of the Company’s revenue generation strategy across its Digital Asset Sales and Staking segments. Fang also served on BitGo’s Board of Directors, giving him dual oversight of both commercial operations and corporate governance.
As Chief Revenue Officer, Fang was allegedly responsible for the revenue streams most directly affected by the risks the complaint claims were understated, including Digital Asset Sales revenue (estimated at $15.5 billion for FY 2025) and the trading volume and margin metrics that collapsed in Q4 2025.
What Chen Fang Allegedly Authorized
The complaint names Fang among the Individual Defendants who signed or authorized the signing of the Registration Statement filed with the SEC in connection with BitGo’s IPO. According to the action, that Registration Statement:
- Characterized BitGo’s business fundamentals as “strong and resilient over time” despite known correlation between digital asset prices and core revenue
- Projected net income from operations between $3.2 million and $3.5 million for FY 2025, when the Company ultimately reported a $14.8 million net loss
- Touted Assets on Platform reaching $104.0 billion by September 2025 without adequately disclosing that a 9% year-over-year decline to $81.6 billion was already underway
- Presented Digital Asset Sales margin expectations that proved dramatically overstated, as margins fell from 0.47% to 0.21%
Section 15 and Section 20(a) Context for Chen Fang
As a signatory to the Registration Statement and a member of the Board of Directors, Fang is alleged to have been a controlling person of BitGo under both Section 15 of the Securities Act of 1933 and Section 20(a) of the Securities Exchange Act of 1934. The complaint contends that Fang possessed the power and authority to control the contents of BitGo’s SEC filings and had access to material information that was not disclosed to the investing public.
“Individual officers who sign SEC certifications bear personal responsibility for the accuracy of corporate disclosures. When a company’s registration statement contains material misstatements, the individuals who authorized those documents face direct accountability under federal securities law,” stated Joseph E. Levi, Esq.
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LEAD PLAINTIFF DEADLINE: August 7, 2026
WHY SUEWALLST: SueWallSt is powered by Levi & Korsinsky LLP. Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
Frequently Asked Questions About the BTGO Lawsuit
Q: Who are the defendants named in the BTGO lawsuit? A: The complaint names BitGo Holdings, Inc. and individual defendants including CEO Michael A. Belshe, CFO Edward Reginelli, Chief Revenue Officer Chen Fang, and directors Brian Brooks, Justin Evans, Brian Murray, Sunita Parasuraman, and Vivek Pattipati. Each signed or authorized the Registration Statement filed in connection with the January 2026 IPO.
Q: What is the BTGO class action lawsuit about? A: A securities class action has been filed against BitGo Holdings (NYSE: BTGO) alleging materially false and misleading statements between January 22, 2025 and May 13, 2026. Shares fell approximately 15.71% after corrective disclosures, and the Company reported a $60.7 million quarterly net loss, causing significant losses for shareholders.
Q: What do BTGO investors need to do right now? A: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Contact SueWallSt, a brand of Levi & Korsinsky LLP, for a no-cost, no-obligation case evaluation at [email protected] or (212) 363-7500. No immediate action is required to remain eligible as an absent class member.
Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.
Q: What if I already sold my BTGO shares — can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the class period and sold at a loss may still participate.
Q: What if I missed the lead plaintiff deadline? A: The deadline applies only to investors seeking lead plaintiff appointment. Class members who miss it can still participate in any settlement or recovery.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (888) SueWallSt
Fax: (212) 363-7171
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