Announcement posted by Bitget 18 Sep 2023
Bitget, top cryptocurrency exchange and copy trading platform, has announced the establishment of the Bitget EmpowerX Fund. The new fund will be dedicated to fostering the platform's ecosystem development, which will seek investment opportunities in regional exchanges, data analytics firms, media organisations and other entities that contribute to the growth of its ecosystem.
The EmpowerX Fund will invest with a capital base of US$100 million, signaling Bitget's ambitious vision. These resources will be strategically and selectively invested to maximise the company's long-term impact in the digital assets space and its ecosystem. Bitget believes that the key to expanding the native ecosystem lies in diversifying services to cater to the varied demands of the global user base. From a strategic perspective, Bitget aims to broaden its business horizons, creating a comprehensive trading ecosystem encompassing trading, investment, research, DeFi, media, and other functions.
"The CEX landscape is continually evolving amid influences of tightened regulations, rapid growth of Layer 2 and DeFi technologies, and we are expecting that more investment, meager and acquisition will happen in the following months. Our vision goes beyond the present. With the launch of the Bitget EmpowerX Fund, we take another major step in our mission to develop Bitget into a truly comprehensive platform for all needs. Through strategic, targeted investments that foster long-term growth, we aim to continually expand our ecosystem of services to better serve the evolving needs of users. We also want to empower other people in our industry, because a rising tide lifts all boats." as Gracy Chen, the Managing Director of Bitget, commented on the launch of the EmpowerX Fund.
For years now, Bitget has been on a relentless journey to evolve alongside the ever-changing crypto world. As both an industry and community, we have remained dedicated to supporting the development of the next generation of innovation, the latest being the launch of the US$100 Million Web3 Fund in April of 2023. The fund focuses on identifying VCs and projects globally, while prioritising Asia-based partners with a clear roadmap and innovations driven to solving real-world problems. The VCs the Bitget Web3 Fund has invested in are Foresight Ventures, Dragonfly Capital, SevenX Ventures, Gitcoin Fund, DAO Maker, and ABCDE Capital.
Bitget is actively pushing forward its decentralised strategies. Bitget announced a US$30 million investment in the decentralized BitKeep multi-chain wallet in March, which was later rebranded into the Bitget Wallet. This move makes Bitget the controlling stakeholder in the wallet, marking a significant step forward in the decentralised space.
On the other hand, Bitget is also strengthening its competitive edges in the centralised domain. It continuously optimises trading experience, enriches product matrix and steps up membership cultivation efforts. The new "Trade smarter" rebranding philosophy now underpins Bitget's market direction, emphasising its dedication to empowering individuals with intuitive tools for a secure, user-friendly, and efficient financial future. The exchange intends to continue developing its native ecosystem, adding new products and features to maintain user interest and drive new engagements.
Bitget, as a trailblazing player in the crypto industry, continues to shape the future through innovation, empowerment, and unwavering commitment to our community include Blockchain4Youth and more.
The latest monthly Proof of Reserves (PoR) report demonstrates Bitget's continuing commitment to comprehensive transparency with its total reserve ratio of 208%. This POR report upholds Bitget's pledge to users that their funds are fully backed 1:1 and available on demand.
Established in 2018, Bitget is the world's leading cryptocurrency exchange that offers Copy Trading services as one of its key features. Serving over 8 million users in more than 100 countries and regions, the exchange is committed to helping users trade smarter by providing a secure, one-stop trading solution. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi, the leading Italian football team Juventus, and official eSports events organiser PGL.
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