1 of 1
Story summary
- BitGo, a California cryptocurrency startup, relocated from Palo Alto to Sioux Falls ahead of its IPO.
- The move follows talks of a California ballot measure taxing billionaires.
- BitGo targets a $1.96 billion valuation and has 566 employees.
- Critics, including BitGo Chief Executive Mike Belshe, say the tax could deter new California businesses.
- Proponents, such as the Service Employees International Union, say it would raise $100 billion and keep most billionaires.
