Bitget Secures $100 Million to Fuel Ecosystem Expansion

Bitget, a derivatives marketplace, has announced the launch of the ‘Bitget EmpowerX Fund’ aimed at fostering the development of its ecosystem. The fund will focus on investing in regional exchanges, data analytics firms, media organizations, and other entities that contribute to the growth of Bitget’s ecosystem. With a capital deployment of $100 million, the fund will be strategically and selectively allocated to maximize its impact in the digital assets space.

Bitget’s strategic goal is to expand its business scope and establish a comprehensive trading ecosystem that includes trading, investment, research, DeFi, media, and other functions. Gracy Chen, the Managing Director of Bitget, emphasized the evolving landscape of centralized exchanges (CEX) due to tightened regulations, as well as the rapid growth of Layer 2 and DeFi technologies. Chen expects more investment, merger, and acquisition activities in the coming months.

Chen stated, “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.”

In a previous announcement, Bitget revealed its partnership with American actor and comedian Adam Devine for a one-year campaign called #SetForChange. The partnership aims to promote crypto education and foster wider adoption by attracting the GenZ crowd through an engaging and lighthearted approach.

Additionally, Bitget has plans to expand its presence in the Middle East by setting up regional headquarters and hiring more team members over the next two years.

It’s important to note that Bitget’s ‘Bitget EmpowerX Fund’ is a significant step towards advancing the platform’s ecosystem development and positioning itself as a prominent player in the digital assets space.

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J-S Tremblay
About the author - J-S Tremblay

I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...

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