IPO Brings Transparency and Trust

Speaking at Consensus Hong Kong 2025 on February 19, Belsche emphasized, “To address Wall Street, you need to be a public company.”

He pointed out that traditional finance firms’ attempts to work with private crypto companies had not always been successful, citing FTX as an example: “That didn’t work out so well.” The bankrupt exchange recently announced a new creditor repayment round for May.

Belsche added that Wall Street now recognizes the importance of regulatory oversight from the Securities and Exchange Commission (SEC) and other institutions, which are key in building trust in digital assets.

As a co-founder of BitGo in 2013, Belsche hinted at a potential IPO for his firm but refrained from providing a specific timeline.

Should Crypto Firms Go Public?

Sharing the stage with Belsche, Bullish CEO Tom Farley supported the idea that public listings would benefit the crypto industry:

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

“Being listed on a well-respected public market demonstrates a commitment to financial transparency and instills confidence in investors.”

While neither executive confirmed concrete IPO plans, both agreed that public offerings could enhance transparency and credibility within the crypto sector.

Crypto Regulations Under Trump Administration

Belsche and Farley also discussed potential regulatory shifts under Donald Trump‘s presidency and a Republican-controlled Congress.

Belsche highlighted that pro-crypto appointments at the SEC and the Commodity Futures Trading Commission (CFTC) could positively impact the industry. “Policy changes take time, but major reforms are on the horizon,” he said.

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According to Doge-tracker data, this savings amount represents only 1.8% of Musk’s goal to reduce U.S. government spending by $2 trillion. Musk outlined this vision during a January 9 interview with political strategist Mark Penn.

Coinbase CEO Armstrong Calls for Transparency

Coinbase CEO Brian Armstrong praised the success of the DOGE agency and emphasized the need to make government spending more transparent through blockchain technology.

In a February 9 social media post, Armstrong stated:

“Great progress DOGE! If all government expenditures were transparently conducted on-chain, audits would be much easier.”

A blockchain-based system can make financial transactions verifiable in real-time and fully transparent. Additionally, mandatory spending proposals could be implemented, ensuring that transactions only proceed if the majority of the population votes in favor.

Musk’s DOGE Agency Uncovers a $100 Billion Deficit

Musk’s DOGE agency and the U.S. Treasury announced the discovery of an annual $100 billion suspicious government expenditure.

According to reports, these funds were paid to individuals without a Social Security number or a temporary identity number, raising serious concerns. On February 8, Musk described the situation as “extremely suspicious.”

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

“I asked if anyone at the Treasury had a rough estimate of how much of that amount is unequivocal and obvious fraud. The consensus in the room was about half, meaning $50 billion per year or $1 billion per week! This is utterly insane and must be addressed immediately,” Musk stated.

New Agreement Highlights

• All government payments must include a payment categorization code to facilitate audits.
• Each expenditure must have a stated “rationale” to clarify the reason behind the transaction.
• The “Do-Not-Pay List” of entities will now be updated weekly or daily, rather than annually.

Blockchain-Based Treasury Could Make the U.S. a Global Leader

Musk’s proposal to transition the U.S. Treasury to blockchain could position the U.S. as a de facto global leader in blockchain innovation.

Jean Rausis, co-founder of decentralized finance platform Smardex, emphasized that the transparency of blockchain-based government spending relies on a permissionless infrastructure.

“It’s hard to say which blockchain could handle the task, but the most important factor is that it must be permissionless. Otherwise, the promised transparency would be nothing but a sham. If the U.S. Treasury genuinely embraces decentralized infrastructure, it could be a catalyst for merging the Web2 and Web3 worlds,” Rausis stated.

Since launching its official website on January 21, DOGE has already saved taxpayers $36 billion in less than three weeks.

DOGE’s operations are set to conclude on July 4, 2026. On this date, the agency aims to present a reformed government model with increased efficiency and reduced bureaucracy. A new reform plan is expected to be unveiled on the 250th anniversary of the U.S. Declaration of Independence.

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