BitGo Board Approves $50 Million Stock Buyback Plan, Representing About 8% of Outstanding Shares

CoinFeed June 17 news, digital asset infrastructure company BitGo announced that its board of directors has approved a stock buyback plan, under which the company may repurchase up to $50 million of common stock, representing approximately 8% of the company's outstanding Class A shares (based on current stock price). The authorization is effective immediately and has no fixed expiration date. Possibly boosted by this news, BitGo (BTGO) stock price surged 20% at one point.