Svmuu News: Crypto infrastructure company BitGo announced the launch of a stock buyback program worth up to $50 million to repurchase the company’s shares on the open market, through block trades, and via negotiated transactions, in an effort to support its stock price, which has been under sustained pressure. Following the announcement, BitGo’s stock price rose by approximately 20% at one point during intraday trading. The company stated that the buyback represents approximately 8% of its outstanding shares, is effective immediately, and has no fixed expiration date. Despite the notable short-term rebound, BitGo’s stock price has still fallen by about 65% since its initial public offering (IPO) in January of this year; the IPO price was $18, and the stock is currently trading around $6. (CoinDesk)