Bitget Burns $130 Million Worth of BGB, Representing 2.5% of Total Token Supply
Global Leader in Cryptocurrency Exchange and Web3 Company, Bitget, Completes Token Burn of 30 Million Bitget Tokens (BGB)
According to its previously announced quarterly burn mechanism, Bitget has completed the burning of 30 million Bitget Tokens (BGB). Based on the market value at that time, the amount burned is approximately $130 million, accounting for about 2.5% of the total BGB supply.
Total Burn Amount Reaches 42.5% in Six Months
In the past six months, Bitget has cumulatively burned 42.5% of the total BGB supply. This includes 19% from the core team and the remaining 21% from a combination of circulating supply and reserve allocation. This marks the first quarterly burn plan, and in the future, 20% of the profits generated from Bitget’s exchange and wallet services will be used for BGB repurchase and burning.
After the burn, the BGB supply is as follows:
- Total Supply: 1,169,993,095 BGB
- Circulating Supply: 1,169,993,095 BGB
Burn Transaction Record
BGB Transforms into a Strategic Asset, Exhibiting Strong CEX Token Performance
Bitget’s initiation of a regular token burn plan represents its mature thinking on the token economic model. As the best-performing centralized exchange (CEX) token over the past year, BGB has demonstrated strong market resilience and rising market demand. Its application in trading and across the entire Bitget platform is increasing, reinforcing its core position as the exchange’s native asset.
Gracy Chen, CEO of Bitget, stated:
“The growth of BGB has led everyone to re-evaluate the role of exchange tokens; it is no longer just a tool for fee discounts but a pillar asset in the new digital financial architecture. This burn plan is an important step in building a transparent and liquid value ecosystem.”
Building a Value Bridge On-chain and Off-chain Towards Long-term Ecological Development
In early 2025, Bitget will merge its native wallet token BWB with BGB to unify functions, connecting centralized and decentralized platforms, allowing BGB to serve as a bridge between trading infrastructure, on-chain applications, and user incentives, achieving seamless value flow within the entire ecosystem.
Bitget will continue to invest in constructing a resilient and long-term valuable token economic system. This burn action is part of the blueprint for BGB’s long-term growth, accelerating its application, liquidity, and user empowerment, further solidifying its key to success.
See the announcement details.
About Bitget
Founded in 2018, Bitget is a world-leading cryptocurrency trading platform and Web3 company. Currently, Bitget serves over 100 countries and regions globally, helping more than 45 million users achieve intelligent trading through leading copy trading services and various trading solutions. The Bitget Wallet, formerly known as BitKeep, is a world-class multi-chain cryptocurrency wallet that offers a range of Web3 solutions and interactive functions, integrating wallet, Swap, NFT marketplace, DApp browser, and more. Bitget encourages individuals to embrace cryptocurrency through partnerships with trusted collaborators, including its role as the official cryptocurrency partner for top professional football leagues in East Asia, Southeast Asia, and Latin America, as well as partnerships with Olympic athletes such as wrestling world champion Buse Tosun Çavuşoğlu, boxing gold medalist Samet Gümüş, and member of the national volleyball team İlkin Aydın.
Bitget Official Website | X | Instagram
About Bitget Wallet
Bitget Wallet is a leading one-stop Web3 wallet with over 60 million global users. The wallet comes in various forms, including mnemonic wallets, non-custodial MPC wallets, and AA smart contract wallets, supporting hardware wallet connections, and now supports over 100 mainstream public chains, hundreds of EVM chains, and more than 500,000 cryptocurrency assets. As the best choice for users to discover new assets and capture new opportunities in the Web3 space, Bitget Wallet offers features including Swap trading, intelligent market trends, Launchpad, inscriptions, NFT & DApp, and earning opportunities, achieving free trading across over 50 chains through the aggregation of hundreds of mainstream DEXs and cross-chain bridges. Bitget Wallet has established a systematic security framework and provides a $300 million risk protection fund.
Bitget Wallet Official Website | X
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