Leading cryptocurrency exchange and Web3 company Bitget has released its December 2023 Protection Fund valuation report, reaching a historical high of $424 million with an average exceeding $413 million, the highest value since its launch.
The Bitget Protection Fund is one of the largest self-insurance funds in the cryptocurrency field, aimed at providing users with additional protection to safeguard their crypto assets from hackers, fraud, and extreme market conditions, building trust among users.
Fully self-funded by Bitget, the Protection Fund offers more flexibility and autonomy, effectively protecting user assets without the need for external complexities or policy adjustments. In order to enhance the fund’s stability and liquidity to address external events, the Bitget Protection Fund includes a diversified portfolio of highly liquid cryptocurrencies such as BTC, USDT, and USDC. In December, the Protection Fund maintained stable growth with the market trend and the surge in BTC prices, reaching a historic high of over $424 million on December 8th.
Throughout October, the Bitget Protection Fund consistently maintained a value of over $300 million. Primarily influenced by Bitcoin price fluctuations, the fund’s book value soared significantly, surpassing $388 million. Recent market volatility intensified, leading to an average monthly value of $357 million for the fund.
Bitget Protection Fund December Valuation:
Highest valuation: $424 million (December 8th)
Lowest valuation: $388 million (December 1st)
Average valuation: $413 million
Gracy Chen, Managing Director of Bitget, stated that Bitget’s commitment to transparency extends beyond publicly releasing the Protection Fund valuation report. The exchange has always provided verifiable reserve proof data, giving users more confidence in the security of their assets. Bitget will continue to provide comprehensive fund information to users, and the public can view the fund’s wallet address at any time. For more details, please click here.
About Bitget
Established in 2018, Bitget is a leading cryptocurrency exchange and Web3 company worldwide, serving over 20 million users in more than 100 countries. Through its innovative copy trading feature and other trading solutions, Bitget aims to help users trade more intelligently.
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 cryptocurrency through partnerships with Argentine football legend Messi, official esports organization PGL, and others.
Follow Bitget Taiwan’s official account for the latest updates:
Bitget Website | Instagram | Twitter
This content is provided by the official source and does not represent the stance or investment advice of this site. Readers are advised to conduct their own careful evaluation.