Promise

2024

Gracy

Bitcoin

Amidst swirling anxieties in the cryptocurrency space, particularly concerning <a href="https://www.reuters.com/technology/bitcoin-etf-hopefuls-still-expect-sec-approval-despite-social-media-hack-2024-01-10/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin ETFs</a> and exchange stability, Bitget, a prominent web 3 and cryptocurrency exchange, has stepped forward to categorically deny rumors of insolvency and the alleged disappearance of key executives.
Related Reading: <a href="https://bitcoinist.com/the-ballad-of-crypto-and-bitcoin-etf-approval/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin ETF: Navigating The Promise And Pitfalls Of Mainstream Adoption</a>
<h2 id="strong-bitget-exec-addresses-community-concerns-strong">Bitget Exec Addresses Community Concerns</h2>
Gracy Chen, Bitget’s managing director, took to X, a social media platform popular in the crypto community, to address these concerns head-on, offering a message of reassurance and highlighting the company’s recent growth trajectory.
Chen’s statement came in response to a flurry of unsettling claims on X, fueled by an influential user known as MMCrypto.
Citing information from various sources, MMCrypto raised concerns about the crypto exchange’s financial health and encouraged users to consider withdrawing their funds, emphasizing his intention to avoid spreading fear, uncertainty, and doubt (FUD).
However, Chen’s swift rebuttal painted a contrasting picture. “Everything at Bitget is working well,” she asserted, adding that “funds are safe, and the whole team is diligently preparing for the next bull run.”
<blockquote class="twitter-tweet">
 Waiting for the good news about <a href="https://twitter.com/hashtag/BitcoinETF?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#BitcoinETF</a>, then FUD comes again? <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f602.png" alt="😂" class="wp-smiley" style="height: 1em; max-height: 1em;">
 Everything at <a href="https://twitter.com/hashtag/Bitget?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitget</a> is working well. Funds are safe and the whole team is working hard to prepare for the next bull run. Thanks to our recent growth, we now have over 100+ positions open, including some…
 — Gracy Chen @Bitget (@GracyBitget) <a href="https://twitter.com/GracyBitget/status/1745119894075826273?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">January 10, 2024</a>
</blockquote>
Further bolstering this stance, Chen pointed to the crypto platform’s recent expansion, highlighting the opening of over 100 new positions, including crucial senior and management roles.
This recruitment drive, she suggested, reflects the company’s confidence in its future and readiness to capitalize on potential market surges linked to Bitcoin ETF approvals.
In a bid to foster a positive outlook, Chen concluded her statement with a resounding call for “BUIDL,” a popular crypto community mantra advocating for long-term building and development over succumbing to fleeting anxieties.
<h2 id="strong-bitget-affirms-stability-amid-community-rumors-strong">Bitget Affirms Stability Amid Community Rumors</h2>
This sentiment echoes the “FUD less, BUIDL more” philosophy previously championed by Binance’s former CEO, CZ.
Bitget’s official stance was further corroborated by Karina Krupenchenkova, a company representative, who confirmed Chen’s statement as the company’s definitive position on the rumors.
While Chen’s words offer a calming perspective, it’s crucial to acknowledge that the situation remains shrouded in some uncertainty.
<blockquote class="twitter-tweet">
 As I did promote Bitget in the past I feel it’s my responsibility to share the most recent information I got from different sources.
 Please understand that I don’t want to make FUD and that nothing is confirmed. I however think that it may be smart to withdraw your funds, if… <a href="https://t.co/4N2G2nFvJB" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/4N2G2nFvJB</a>
 — MMCrypto (@MMCrypto) <a href="https://twitter.com/MMCrypto/status/1745178580068516050?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">January 10, 2024</a>
</blockquote>
MMcrypto, while expressing relief after Chen’s statement, reiterated the need for further clarification from Bitget employees.
Featured image from Shutterstock

Bitget Exec Shuts Down Insolvency Rumors, Says Funds Are ‘Safe’ – Details

Table of Contents

Bitcoinist

Other articles published on Jan 11, 2024

Goldman Sachs Evaluates Spot Bitcoin ETF Approval! Advantages and Disadvantages Explained!

Hedera and Algorand forge an alliance for crypto recovery

Just In: Grayscale files for Bitcoin (BTC) covered call ETF

Anticipation Grows for a Potential XRP ETF Following Bitcoin ETF Approval

Bitcoin (BTC) Price Might Hit $50k In Next 7 to 10 Days – Here’s Why

JPMorgan CEO Announces That Bitcoin’s Only Value Is Facilitating Crimes

Join our free newsletter for daily crypto updates!