Bitget launches $100 million fund to boost its ecosystem

Derivatives exchange Bitget has announced the launch of its new $100 million fund, Bitget EmpowerX Fund.

The fund will enhance Bitget’s ecosystem by investing in regional exchanges, data analytics firms, media organizations, and other opportunities.

Bitget EmpowerX Fund will operate with a capital base of $100 million to support Bitget’s expansion and vision. The fund’s main goal will be to increase Bitget’s long-term impact in the digital asset space and its ecosystem.

Bitget expansion in the crypto industry

Bitget is a prominent player in the cryptocurrency industry, specializing in futures and copy trading services, established in 2018. It serves over 8 million users across over 100 nations and regions. The exchange has gained recognition as a top 6 futures trading platform and a 12th spot trading platform, per CoinMarketCap.

Bitget has established a Builders’ Fund worth $5 million, demonstrating its commitment to supporting the growth and development of the crypto industry. Additionally, Bitget has increased the size of its Protection Fund from $200 million to $300 million, providing users with an added layer of security.

Bitget’s plans for expansion include setting up regional centers in Europe and Africa. By establishing a presence in these regions, Bitget aims to cater to the growing demand for cryptocurrency trading and extend its services to a broader user base. The exchange has ambitious recruitment plans to increase its workforce to 1200 employees by the first quarter of 2023