Global leading cryptocurrency exchange and Web3 company Bitget has announced the latest valuation of its Protection Fund for June 2024, significantly exceeding the promised $300 million mark. This achievement solidifies Bitget’s position as one of the most reliable cryptocurrency exchanges. Since its launch in August 2022, the Protection Fund has been foundational to Bitget’s user-centric approach, emphasizing a secure trading environment amid volatile market conditions. It safeguards users’ assets from hacks, fraud, and extreme market fluctuations.
As of June 2024, the Protection Fund maintains a stored value of 6,500 BTC across three independently audited wallets, ensuring transparency with publicly displayed addresses. During peak market surges, the Fund has continued to grow, stabilizing thereafter. On June 6, it reached a monthly peak valuation of $462 million, showcasing Bitget’s robust financial health and strategic asset management capabilities. Throughout the month, the Fund maintained an average valuation of $429 million. Even on June 29, its lowest valuation of $392 million still exceeded 30% of the initial allocation, underscoring its reliability.
CEO Gracy Chen remarked, “The Protection Fund reflects our commitment at Bitget to providing a secure platform. Reserve proof and the Protection Fund are pivotal to user trust, and we plan to strengthen these pillars monthly.”
As one of the industry pioneers in establishing business transparency with users, Bitget offers verifiable asset proof data and comprehensive fund storage information, including company wallet addresses, to uphold the highest security standards.
Founded in 2018, Bitget serves over 20 million users across more than 100 countries worldwide, pioneering in cryptocurrency exchange and Web3 solutions. Formerly known as BitKeep, Bitget Wallet is a premier multi-chain cryptocurrency wallet offering a wide range of Web3 solutions, including wallet functions, exchanges, NFT markets, and DApp browsers. Bitget collaborates with figures like Argentine football legend Messi and esports organization PGL to promote cryptocurrency adoption.
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