Cryptocurrency infrastructure provider BitGo announced a $50 million stock buyback program, with the stock price rising as much as 20% on Wednesday. The program allows the company to repurchase up to $50 million worth of common stock through open market purchases, private negotiated transactions, and block trades, representing approximately 8% of the outstanding shares, with immediate effect and no fixed expiration date. Despite the rise on Wednesday, BitGo's stock price remains about 65% below its January listing price on the New York Stock Exchange; its IPO priced at $18, with recent trading prices around $6.07. BitGo offers digital asset custody, trading, staking, and settlement services, and issues a USD stablecoin called USD1 related to the Trump family project World Liberty Financial. (CoinDesk)

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