Bitget Token

<p>Seychelles-based crypto exchange Bitget has launched its EmpowerX Fund, a $100 million initiative unveiled during Bitget’s fifth-anniversary summit in Singapore on Tuesday.</p><h2 id="header-0">Strategic investment</h2><p>The firm expanded on the finer details of the fund at the summit event and also by way of a<a href="https://www.prnewswire.com/in/news-releases/bitget-reveals-100-million-empowerx-fund-to-build-all-encompassing-ecosystem-301924489.html" rel="noopener noreferrer nofollow"> press release</a> published to PR Newswire. The primary goal of the initiative is to enrich the platform’s ecosystem by strategically investing in various sectors, including regional exchanges, data analytics firms, and media organizations.</p><p>Bitget’s approach via this new fund is grounded in diversification to meet the ever-evolving needs of its 20 million global customers. The exchange envisions creating a comprehensive trading ecosystem that encompasses trading, investment, research, DeFi, and media.</p><p>Gracy Chen, the Managing Director of Bitget, emphasized that the cryptocurrency exchange sector is in a constant state of evolution and with that, the firm has a forward-looking vision that extends beyond the present. Chen stated:</p><p>“The CEX landscape is continually evolving amid influences of tightened regulations, rapid growth of Layer 2 and DeFi technologies, and we are expecting that more investment, meager [<em>sic</em>] and acquisition will happen in the following months. Our vision goes beyond the present.”</p><p>She added: “With the launch of the Bitget EmpowerX Fund, we take another major step in our mission to develop Bitget into a truly comprehensive platform for all needs. Through strategic, targeted investments that foster long-term growth, we aim to continually expand our ecosystem of services to better serve the evolving needs of users. We also want to empower other people in our industry, because a rising tide lifts all boats.”</p><h2 id="header-1">Broader investment trend</h2><p>Bitget’s EmpowerX Fund is part of a broader trend of strategic investments and expansion. In April, the exchange introduced the $100 million Web3 Fund, which focuses on supporting projects based in Asia and partnering with global venture capital firms, including Foresight Ventures, SevenX Ventures, and Gitcoin Fund.</p><p>As part of that initiative, the firm<a href="https://medium.com/&#64;coinness.gl/sei-labs-raises-dollar50m-to-fuel-asian-expansion-a9f6bab9c17e" rel="noopener noreferrer nofollow"> invested</a> $20 million in Sei Labs, the developers of the layer one Sei blockchain. The strategic direction being taken by Bitget extends beyond digital assets, as Bitget allocated $30 million to invest in the BitKeep multi-chain wallet, which subsequently underwent a rebranding as <a href="https://medium.com/&#64;coinness.gl/bitget-achieves-20m-users-with-wallet-integration-driving-trading-volume-aa1e4459e47f" rel="noopener noreferrer nofollow">Bitget Wallet</a>. This investment marked a significant milestone in Bitget’s journey toward embracing decentralized strategies.</p><h2 id="header-2">Diversifying service offering</h2><p>To better cater to the evolving needs of its users, Bitget has diversified its service offerings. In addition to traditional trading, the platform has ventured into the realm of crypto loans, a bold move given the difficulties experienced in 2022 by crypto lending firms like Celsius, BlockFi, Hodlnaut, Vauld, and Voyager Digital, who all ended up in bankruptcy.</p><p>The company has taken a further step towards diversification on Tuesday,<a href="https://www.bitget.com/academy/bitget-wealth-management-introduction" rel="noopener noreferrer nofollow"> announcing</a> the launch of its Bitget Wealth Management product. The firm claims that the product is targeted to meet the needs of high-net-worth individuals and institutions, offering to assist them in optimizing their financial portfolios.</p><p>Bitget has also adapted to a changing regulatory landscape recently,<a href="https://medium.com/&#64;coinness.gl/bitget-exec-speaks-to-utility-of-enhanced-kyc-3bb2900c0c0c" rel="noopener noreferrer nofollow"> stepping up</a> its compliance in terms of Know Your Customer (KYC) measures.</p>

Bitget Launches $100M Crypto Ecosystem Fund

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