Bitget Continues to Safeguard User Assets through Protection Funds! Latest Fund Valuation Reaches $465 Million USD.
Leading global cryptocurrency exchange and Web3 company Bitget has announced its latest valuation for its Protection Fund in April 2024. The fund has an average monthly value of $428 million and reached its highest valuation of $465 million on April 8th. The average monthly valuation of $428 million highlights Bitget’s commitment to user protection.
Since August 2022, the Protection Fund has been an important pillar for Bitget, reflecting its dedication to providing a secure trading environment. The Bitget Protection Fund aims to provide additional protection for users, safeguarding their crypto assets from hacker attacks, fraud, and extreme market conditions, thereby building trust among users.
The Bitget Protection Fund is fully self-financed and operates independently, allowing for swift and adaptive responses to sudden challenges. In turbulent market environments or unexpected events, the fund can quickly reallocate resources, reduce risks, and protect user assets.
Throughout April, driven by market trends and BTC valuation, the Bitget Protection Fund remained stable with an average monthly valuation of $428 million, far exceeding Bitget’s commitment of $300 million in October 2022. During this period, Bitget temporarily removed USDT from the protection fund, aiming to provide more funding support for the development of the Bitget ecosystem. After the adjustment, the Bitget Protection Fund still holds a total of 6,500 BTC.
Valuation status of the Bitget Protection Fund in April 2024:
Highest value: $465 million (April 8th)
Lowest value: $394 million (April 30th)
Average value: $428 million
Gracy Chen, the General Manager of Bitget, stated, “Bitget prioritizes security, and our Protection Fund demonstrates our steadfast commitment to safeguarding user assets. We will maintain the valuation of the fund at over $300 million, enhancing the security of users’ digital assets and providing them with peace of mind.”
Bitget’s pursuit of transparency extends beyond publicly reporting the valuation of the Protection Fund. The exchange has consistently provided verifiable reserve proof data, allowing users to have greater confidence in the security of their assets. Bitget will continue to provide comprehensive fund information to users, and the public can also view the wallet address of the Protection Fund. For more details, please click here.
Bitget PoR
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