Bitget Has Announced Fund Of $100 Million For Ecosystem Development


Bitget, the crypto derivatives platform, recently announced a new fund that would be focusing on growing the ecosystem, as well as investing in analytics firms, regional exchanges, entities, and media organizations that could contribute to the growth.

In an announcement that was sent to Cointelegraph, the company revealed the EmpowerX Fund, which will be investing a sum of $100 million into the maximization of the long-term impact of the crypto space. According to this particular announcement, the company believes that diversifying the services in order to reach the needs of the user base around the world would be the key to the expansion of the native crypto ecosystem.

BitGet Is Planning On Developing The Ecosystem

Bitget’s managing director, Gracy Chen, stated that the company does expect more mergers, investments, and acquisitions in the next few months, as the centralized exchange landscape keeps evolving with multiple changes in the regulations. According to Chen, the fund will be another major step in the company’s mission to make it a comprehensive platform that would cater to the ever-changing needs of crypto users. Chen also stated that they want to empower other people in the industry- due to the rising tide that lifts all the boats. 

Bitget, the crypto derivatives exchange, also launched a Web3 fund worth $100 million for crypto projects in the Asian continent earlier this year. On the 10th of April, the exchange also stated that it would launch several target funding Web3-friendly projects throughout the world all the while focusing on Asian projects with a bunch of experienced teams that are working on real-world problems. Also, BitKeep, a multichain wallet, was recently rebranded into the BitGet Wallet, after the crypto derivatives exchange bought a controlling stake in the company, for a sum of $30 million in March.