Bitget Creates 100 Million Dollars Pot

Crypto News- Bitget creates 100 million dollars pot, crypto derivatives and copy-trading exchange Bitget has introduced its EmpowerX Fund, a $100 million initiative aimed at expanding the platform’s ecosystem. This announcement was made during Bitget’s fifth-anniversary summit held in Singapore.

Bitget Creates 100 Million Dollars Pot

The primary objective of Bitget’s EmpowerX Fund is to make strategic investments in various entities, including regional cryptocurrency exchanges, data analytics firms, media organizations, and other relevant partners. This investment strategy is part of Bitget’s broader plan to cater to the diverse needs of its 20 million global customers by diversifying its service offerings.

Bitget’s overarching goal with the EmpowerX Fund is to create a comprehensive trading ecosystem that encompasses a wide range of functions. This ecosystem is intended to cover various aspects of the crypto and blockchain industry, including trading, investment, research, DeFi (Decentralized Finance), media, and more. By doing so, Bitget aims to strengthen its position in the cryptocurrency market and enhance its ability to provide valuable services to its growing user base.

Cryptocurrency trading platform Bitget has allocated a substantial $100 million fund known as the EmpowerX Fund to support the growth of its ecosystem. This fund will be used to make strategic investments in various areas, including cryptocurrency exchanges, data analytics firms, and media organizations. Bitget’s objective is to expand its range of services and create a comprehensive trading ecosystem that covers aspects such as investment, research, decentralized finance (DeFi), media, and more.

This initiative follows closely on the heels of Bitget’s earlier commitment to invest $100 million in Web3 startups in Asian countries. In March, Bitget became the largest shareholder in the decentralized multichain wallet BitKeep by investing $30 million.

Gracy Chen, the Managing Director of Bitget, emphasized the company’s goal to facilitate long-term growth through strategic investments, while also acknowledging the importance of empowering others in the industry for mutual benefit.

Bitget anticipates that regulatory changes and the growth of layer-2 blockchain networks and DeFi technologies will reshape the landscape for centralized exchanges. To stay ahead in this evolving environment, Bitget is actively diversifying its service offerings and exploring merger and acquisition opportunities that may arise in the coming months. This strategy aims to position Bitget as a more versatile and adaptable player in the cryptocurrency space.