The world’s leading cryptocurrency exchange and Web3 company, Bitget, has released its latest valuation of the Protection Fund for June 2024, far exceeding Bitget’s promised $300 million, solidifying its position as one of the most reliable cryptocurrency exchanges.
Since its launch in August 2022, the Protection Fund has been the cornerstone of Bitget’s user-first approach, emphasizing the platform’s commitment to providing a secure trading environment. In volatile market conditions, the Protection Fund ensures that Bitget users’ assets are protected from hacking, fraud, and extreme market situations. In June 2024, the Protection Fund maintained a storage of 6,500 BTC in three independent wallets, with their addresses publicly displayed to ensure transparency.
During the market surge, the Bitget Protection Fund continued to grow and then returned to stability. It reached a monthly peak valuation of $462 million on June 6, demonstrating Bitget’s strong financial position and strategic asset management capabilities. Throughout the month, the Protection Fund maintained an average valuation of $429 million. On June 29, the lowest valuation of the Protection Fund was $392 million, still remaining above 30% of the initial allocation. The performance of the Protection Fund throughout the month clearly demonstrates Bitget’s reliability and its commitment to maintaining the highest standards of user asset security.
Bitget CEO Gracy Chen stated, “The Protection Fund is the result of our efforts at Bitget to provide a secure platform. Proof of reserve and the Protection Fund are two important pillars of user trust in Bitget, and we plan to strengthen these pillars every month.”
As one of the industry leaders in establishing business transparency with users, Bitget maintains security standards by providing verifiable asset proof data and comprehensive fund storage information (including company wallet addresses) for users to track the fund.
About Bitget
Founded in 2018, Bitget is a leading cryptocurrency exchange and Web3 company, serving over 20 million users in more than 100 countries worldwide. Bitget is committed to helping users trade more intelligently through its innovative copy trading feature and other trading solutions.
Bitget Wallet, formerly known as BitKeep, is a world-class multi-chain cryptocurrency wallet that provides a comprehensive range of Web3 solutions and features, including wallet functions, exchanges, NFT markets, and DApp browsers. Bitget encourages the adoption of cryptocurrencies through partnerships with Argentine football legend Messi, official esports organization PGL, and others.
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