Bitget launches $200 million Protection Fund to protect users

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Bitget launches $200 million Protection Fund to protect users

We heard horror stories of millions of investors losing their personal savings due to the collapse of Celsius in recent months. Hundreds of retail investors have gone as far as to send letters to the bankruptcy judge to share their stories of how they lost their money. Some said they contemplated suicide if they can't retrieve their lost criptocurrency investments.

The digital asset trading platform and global derivatives exchange Bitget is on a mission to safeguard users digital assets, address investors security concerns and increase their confidence, especially during the criptocurrency bear market.

The $200 million Bitget Protection Fund will be launched today, as part of its continued efforts to make sure its users' assets are safeguarded. The goal of the fund, which consists of 6000 BTC and 80 million USDT, is to provide a secure and safe trading experience for users around the world.

Bitget pledged to secure the value of the fund for the next three years. The fund will serve as a safeguard for Bitget users and the Bitget trading platform while also helping to introduce a new era of safety and protection in the space as a whole.

As a result of the digital asset market, it revolutionized the way people trade and invest their resources. The bear market's volatility triggered recent incidents that threatened the trust of traders worldwide, and many had to bear steep financial consequences as a result.

As one of the world's leading cripto-currency exchanges, the safety of our users assets has always been our first and foremost priority, according to Gracy Chen, Managing Director of Bitget. We are one step closer to fulfilling our commitment to safeguarding and protecting our Bitget community with the launch of the Bitget Protection FundBitget Protection Fund. The protection fund will help us mitigate investors concerns and attract potential users. As we continue to endure the winter of criptocurrencies, it is important that our users can rest assured that their funds are safe. She said that moving forward, as we continue our mission to drive global criptocurrency adoption, we also make a commitment to create a fair and secure digital asset marketplace with investor protection and market integrity as key priorities. We believe that our initiative will encourage other CEXs to address concerns of accountability, safety, and security in the space, and help win back investors confidence and build a better world together. Bitget was founded in 2018 and serves more than 2 million customers in 50 countries. It aims to contribute to the adoption of decentralized finance on a global scale. The popularity of its flagship One-Click Copy Trade products has made Bitget the world's largest criptocopy trading platform. Bitget was ranked third in the world in terms of its derivatives volume as of January 2022, according to CoinMarketCap.

In September 2021, Bitget announced its sponsorship of the world-renowned football team Juventus as its first-ever sleeve partner and PGL Major's official eSport partner soon after. In early 2020, Bitget also announced partnerships with the leading Russian eSports organization Team Spirit and Turkey's leading and long-standing football club Galatasaray.