VICTORIA, Seychelles, July 2, 2024
/PRNewswire/ -- Bitget, the leading
cryptocurrency exchange and Web3 company, has released
the updated valuation of its Protection Fund for June 2024. By significantly exceeding the
company's commitment of $300 million,
Bitget continues to flourish as one of the most trustworthy
crypto exchanges.
Since its launch in August 2022,
the Protection Fund has been a cornerstone of Bitget's user-centric
approach, highlighting the platform's dedication to providing a
secure trading environment. In a volatile landscape, the Protection
Fund acts as a safety net against potential threats, ensuring
Bitget users' assets remain shielded from adversities. In
June 2024, the Protection Fund
maintained its holdings of 6,500 BTC stored in three separate
wallets, with all addresses publicly displayed for
transparency.
![Bitget Protection Fund Valuation in Billions (June 2024) Bitget Protection Fund Valuation in Billions (June 2024)](https://mma.prnewswire.com/media/2452756/Bitget_Protection_Fund.jpg)
The Bitget Protection Fund continued its momentum of growth
during the market's surge and then returned to stability. At its
peak on the 6th June, the fund hit its monthly high valuation of
$462M, indicating strong financial
health and strategic asset management that Bitget is known for.
Throughout the month, the Protection Fund maintained an average
valuation of $429 million. The lowest
valuation of the Fund in June was $392
million, recorded on the 29th but was still maintained 30%
above the initial allotment.
The fund's performance throughout the month is a clear indicator
of the platform's reliability and its commitment to upholding the
highest standards of users' asset security.
"The Protection Fund is a by product of the efforts we put in at
Bitget to provide a safe and secure platform for our users," said
Gracy Chen, CEO at Bitget,
"The Proof-of-reserves and Protection Fund are two strong pillars
of our users' trust in Bitget and we plan to keep reinforcing this
each month," she added.
As one of the very first industry leaders to establish business
transparency with its users, Bitget upholds security standards by
providing verifiable Proof of Reserves data and offering users
unrestricted access to comprehensive fund storage information,
including the company's wallet addresses for tracking.
For more information on the Protection Fund, please
visit here.
About Bitget
Established in 2018, Bitget is the world's
leading cryptocurrency exchange and Web3 company.
Serving over 25 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 Turkish National athletes
Buse Tosun Çavuşoğlu (Wrestling
world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın
(Volleyball national team).
For more information, visit: Website | Twitter
| Telegram | LinkedIn | Discord | Bitget
Wallet
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SOURCE Bitget