Bitget Continues to Safeguard User Assets Through Protection Funds Latest Fund Valuation Reaches as High as 465 Million

Bitget Continues to Safeguard User Assets Through Protection Funds Latest Fund Valuation Reaches as High as 465 Million

Bitget Continues to Safeguard User Assets Through Protection Funds Latest Fund Valuation Reaches as High as 465 Million

Leading cryptocurrency exchange and Web3 company Bitget has announced the latest valuation of its Protection Fund for May 2024. The fund had an average monthly value of $425 million, reaching a peak valuation of $465 million on May 20, highlighting Bitget’s commitment to safeguarding user assets.

Since August 2022, the Protection Fund has been a crucial pillar of Bitget’s user-centric approach, demonstrating the company’s dedication to providing a secure trading environment. The Bitget Protection Fund aims to offer additional protection to users, safeguarding crypto assets from hacker attacks, fraud, and extreme market conditions to build trust among users.

Driven by market trends and Bitcoin valuation, Bitget’s Protection Fund maintained a stable monthly valuation of $425 million throughout May, far exceeding the promised $300 million in October 2022. Over the past month, the fund has preserved 6,500 BTC stored in three independent wallets, with all addresses publicly displayed to ensure transparency.

Valuation of Bitget Protection Fund in May 2024:
Highest value: $465 million (May 20)
Lowest value: $378 million (May 1)
Average value: $425 million

The Bitget Protection Fund operates independently with self-raised funds, enabling rapid and adaptive responses to sudden challenges. In volatile market environments or unexpected events, the fund can swiftly reallocate resources to reduce risks and protect user assets.

Gracy Chen, Managing Director of Bitget, stated, “Bitget prioritizes security, ensuring peace of mind and safety for users under various market conditions by maintaining an industry-leading Protection Fund valued at over $300 million and disclosing public wallet addresses. We are committed to transparency and security, maintaining a trusted leadership position in the cryptocurrency trading industry.”

Bitget’s commitment to transparency extends beyond disclosing the Protection Fund valuation reports. The exchange provides verifiable reserve proof data, enhancing user confidence in asset security. Bitget will continue to offer comprehensive fund information to users, with the public able to view the wallet addresses of the Protection Fund at any time. For more details, please visit here.

About Bitget
Established in 2018, Bitget is a leading cryptocurrency exchange and Web3 company serving over 20 million users in more than 100 countries globally. Through its innovative copy trading feature and other trading solutions, Bitget facilitates smarter trading for users.

Formerly known as BitKeep, Bitget Wallet is a top-tier multi-chain cryptocurrency wallet offering a range of comprehensive Web3 solutions and features, including wallet functions, exchanges, NFT markets, DApp browsers, and more. Bitget encourages the adoption of cryptocurrencies through partnerships with Argentine football legend Lionel Messi, official esports organization PGL, and others.

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