VICTORIA, Seychelles, May 15,
2024 /PRNewswire/ -- Bitget, the leading cryptocurrency
exchange and Web3 company, proudly announces the updated valuation
of its Protection Fund for April
2024. With the highest value at $465
million on April 8th and an
average monthly valuation of $428
million, Bitget reinforces its commitment to fortify user
security and safeguard its digital assets.
As an essential pillar of Bitget's user-centric approach since
August 2022, the Protection Fund
epitomizes the platform's dedication to providing a secure trading
environment. In a volatile landscape fraught with risks, the
Protection Fund serves as a safety net against potential threats,
ensuring Bitget users' assets remain shielded from adversities.
Throughout April, propelled by market trends and the BTC
valuation, Bitget's Protection Fund remained steady with an average
monthly valuation of $428 million,
significantly exceeding the company's commitment of $300 million in Oct
2022. In the interim, Bitget temporarily removed USDT
storage from the Protection Fund as it expects to add more
financial support to Bitget's ecosystem growth. After the
adjustment, the Bitget Protection Fund still holds a total of 6,500
BTC.
Bitget Protection Fund Valuation Status in April 2024:
Highest value: $ 465 million
(Apr 8)
Lowest value: $ 394 million
(Apr 30)
Average value: $ 428 million
Utilizing a self-insured reserve model, Bitget's Protection Fund
operates independently, enabling swift and adaptive responses to
emergent challenges. Free from external dependencies, the fund can
swiftly reallocate resources to mitigate risks and protect user
assets during turbulent market conditions or unforeseen events.
Gracy Chen, Managing Director
at Bitget, remarked, "Security is paramount at Bitget, and our
Protection Fund underscores our unwavering commitment to
safeguarding our users' assets. We will stick to our original plan
of maintaining the fund valuation above $300
million, providing peace of mind to our users by fortifying
their digital asset security across all market conditions."
In addition to the Protection Fund's robust performance, Bitget
upholds its transparency standards by providing verifiable Proof of
Reserves data and offering users unrestricted access to
comprehensive fund storage information, including publicly
available wallet addresses. Bitget's unwavering dedication to
transparency and security solidifies its position as a trusted
leader in the cryptocurrency exchange industry.
For more detailed information, please visit here.
About Bitget
Established in 2018, Bitget is the world's leading
cryptocurrency exchange and web3 company. Serving over 20 million
users in 100+ countries and regions, the Bitget exchange is
committed to helping users trade smarter with its pioneering copy
trading feature and other trading solutions. Formerly known as
BitKeep, Bitget Wallet is a world-class multi-chain crypto
wallet that offers an array of comprehensive Web3 solutions and
features including wallet functionality, swap, NFT Marketplace,
DApp browser, and more. Bitget inspires individuals to embrace
crypto through collaborations with credible partners, including
legendary Argentinian footballer Lionel
Messi and official eSports events organizer PGL.
For more information, visit: Website |
Twitter | Telegram | LinkedIn
| Discord | Bitget Wallet
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