Crypto derivatives platform Bitget has announced the launch of a new fund called Bitget EmpowerX Fund, with a focus on growing its ecosystem and investing in various entities within the crypto space. The fund aims to invest $100 million into maximizing the company’s long-term impact in the industry. Bitget believes that diversifying its services to meet the needs of its global user base is crucial for expanding the native crypto ecosystem.
According to Gracy Chen, the managing director of Bitget, the fund represents a significant step in the company’s mission to become a comprehensive platform that caters to the ever-changing needs of crypto users. Chen also emphasized the importance of empowering others in the industry, stating, “We also want to empower other people in our industry, because a rising tide lifts all boats.”
Bitget previously launched a $100 million Web3 fund for crypto projects in Asia earlier this year. The company aims to fund Web3-friendly projects worldwide, with a particular focus on Asian projects that have experienced teams working on solving real-world problems.
In addition to the fund announcement, BitKeep, a multichain wallet, recently rebranded into Bitget Wallet after being acquired by the crypto derivatives exchange for $30 million in March. The rebranding coincided with the launch of an in-wallet feature called Bitget Swap.
The Bitget EmpowerX Fund and BitKeep’s rebranding are part of Bitget’s efforts to strengthen its position in the crypto industry and adapt to regulatory changes in the centralized exchange landscape.
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