Bitget Takes Bold Step in the Web3 Landscape

In a bold move signaling its commitment to the Web3 revolution, crypto derivatives exchange Bitget has unveiled a $100 million fund aimed at nurturing the next generation of innovative Web3 projects. This initiative comes as no surprise, considering the rapid evolution in the blockchain space and the need for substantial investment in promising ventures.

A Focus on Real-World Impact

According to Gracy Chen, Bitget’s Managing Director, the fund will primarily target Web3-friendly venture firms and projects around the globe. However, the spotlight will shine especially on projects hailing from Asia. The focus is on established teams with sound roadmaps addressing genuine real-world problems. These criteria will ensure the fund’s investments create meaningful advancements in the Web3 ecosystem.

Building Partnerships for Growth

Bitget has set its sights on collaborating with noteworthy venture capitalists, including:

• Foresight Ventures
• ABCDE Capital
• SevenX Ventures
• DAO Maker
• Dragonfly Capital

These partnerships are crucial; they offer not just funding, but also guidance and expertise to help navigate the complex landscape of Web3 development.

Expanded Offerings and User Base

Since its inception in 2018, Bitget has made waves, attracting over 80,000 traders and 380,000 enthusiastic copy traders. As part of its 2023 strategy, the exchange aims to enhance its offerings, including spot trading, a launchpad for new projects, and the Bitget Earn platform. Moreover, the recent acquisition of BitKeep wallet, which boasts more than 9.5 million users, for $30 million aligns beautifully with its goal to strengthen Web3 access.

Previous Initiatives During Market Challenges

Even amidst last year’s tumultuous bear market, Bitget demonstrated resilience, launching a substantial $200 million fund to safeguard user assets and rebuild investor trust. This initiative has a three-year plan to secure the fund’s value, showcasing Bitget’s dedication to its users’ financial security.

Strong Compliance for Secure Trading

To maintain a safe trading environment, Bitget has embraced rigorous Know Your Customer (KYC) and Anti-Money Laundering (AML) measures. These policies are designed to filter out bad actors and ensure a transparent marketplace for its users, reinforcing its commitment to regulatory compliance and user safety.