Leading global cryptocurrency exchange and Web3 company Bitget has released its December 2023 valuation report for the Protection Fund, which reached a historical high of $424 million, with an average value exceeding $413 million. This is the highest value since the launch of the Protection Fund.
Bitget’s Protection Fund is one of the largest self-insurance funds in the cryptocurrency field, aiming to provide users with additional protection for their cryptocurrency assets against hacker attacks, fraud, and extreme market conditions, thereby establishing trust among users.
The Protection Fund is fully self-funded by Bitget, providing more flexibility and autonomy to effectively protect user assets. This approach enables quick and effective asset protection without the need for external red tape or policy adjustments. To further enhance the stability and liquidity of the fund in response to external events, Bitget’s Protection Fund includes a diversified portfolio of highly liquid cryptocurrencies such as BTC, USDT, and USDC. In December, the Protection Fund maintained stable growth, reaching a historical high of over $424 million on December 8, in line with market trends and the surge in BTC prices.
Throughout October, the Protection Fund consistently maintained a value of over $300 million. Primarily influenced by the fluctuation of Bitcoin prices, the fund’s book value soared to over $388 million. Recent market volatility has led to an average value of $357 million for the month.
Bitget Protection Fund December valuation:
Highest valuation: $424 million (December 8)
Lowest valuation: $388 million (December 1)
Average valuation: $413 million
Bitget’s Managing Director, Gracy Chen, stated:
Bitget’s pursuit of transparency extends beyond the publication of the Protection Fund valuation report. The exchange has always provided verifiable proof of reserves 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.
About Bitget:
Founded in 2018, Bitget is a leading global cryptocurrency exchange and Web3 company. Bitget currently serves over 20 million users in more than 100 countries worldwide, dedicated to helping users trade more intelligently through its innovative copy trading feature and other trading solutions.
The predecessor of Bitget Wallet was BitKeep, a world-class multi-chain cryptocurrency wallet that provides a range of comprehensive Web3 solutions and features, including wallet functions, exchanges, NFT markets, DApp browsers, and more. Bitget encourages the adoption of cryptocurrency through partnerships with Argentine football legend Lionel Messi and official esports event organizer PGL.
Follow Bitget Taiwan’s official account to stay updated:
Bitget Official Website |
Instagram |
Twitter
This article is provided by the official source and does not represent the position or investment advice of this website. Readers must conduct their own careful evaluation.
Why Did FamilyMart Enter the Cryptocurrency Sector? Trump’s Second Son Reveals the Truth Behind It.
He stated that the family originally had no plans to enter this field, but the banking sys…