Gotbit

Gotbit, also operating as Gotbit Hedge Fund and legally as Gotbit Consulting LLC, was a cryptocurrency-focused financial services firm that described itself as a performance-focused market maker for Web3 projects, alongside a venture capital arm and a startup incubation and consulting practice. Its market-making offering was positioned around generating buy pressure in a client token's market, using a trading desk together with software the company described as AI-powered, and coordinating activity across multiple exchanges. The company also promoted a self-service platform for managing Web3 markets, a verification tool for confirming official Gotbit contacts and domains, and a community of Web3 founders.

The firm was based in Russia and Portugal according to U.S. authorities, and its own site listed offices in Ho Chi Minh City, London, Dubai, Yerevan, Lisbon and Izmir. U.S. prosecutors said that between 2018 and 2024 Gotbit manipulated cryptocurrency trading volumes through wash trading to give the appearance of active markets, marketing those services to crypto projects seeking listings on platforms such as CoinMarketCap and centralized exchanges. In June 2025 the company was sentenced to five years' probation, ordered to forfeit approximately $23 million in seized cryptocurrency, and required to dissolve and cease operations.

Founding story

Public company materials date the business to 2017, when it began with two traders and expanded through the ICO boom, blockchain regulation and the launch of Binance into a larger firm spanning market making, startup incubation and consulting.

Business model

Gotbit sold market-making services to token issuers and also ran a venture capital arm investing in crypto projects, positioning market making as a way for Web3 founders to fund team and operations after a token generation event. Prosecutors stated the firm received tens of millions of dollars in payments from clients.

Fees paid by crypto projects for market-making and related services; prosecutors described the firm collecting tens of millions of dollars in fees from token projects.

Traction

Company materials cited $1.3 billion in assets under management, 400+ live institutional clients (an earlier figure on the same page stated 290+) and 180+ team members (elsewhere 140+). Investment tracking data lists five disclosed portfolio investments, including analOS and BIZVERSE.

Latest developments

In June 2025 Gotbit and its founder were sentenced in Boston; the company must cease to exist or operate over a five-year probation term and forfeited about $23 million in seized crypto. A U.S. Securities and Exchange Commission civil case against the company is ongoing.