Bitget's Protection Fund Surges to $643M in November 2024 Amid Bitcoin All-Time-High
VICTORIA, Seychelles, Dec. 10, 2024 (GLOBE NEWSWIRE) -- Bitget, the leading cryptocurrency exchange and Web3 company, reports a record-breaking valuation of its Protection Fund, hitting an all-time high of $643M on November 23, 2024. The fund, established to provide financial security for users in unprecedented market conditions, has grown significantly in parallel with the performance of Bitcoin, highlighting its stability and liquidity in the evolving crypto ecosystem.
In November 2024, Bitget's Protection Fund reached a peak valuation of $643 million, marking its highest level as Bitcoin surged to an all-time high of $95,686. The fund's lowest valuation during the month was $440 million, recorded when Bitcoin dipped to $67,793. Throughout the month, the Protection Fund maintained an average valuation of approximately $556 million, reflecting the broader upward trend in Bitcoin's price and the fund's consistent performance.
"Our Protection Fund's growth shows how security is a priority to us and securing user assets, especially in surging market conditions, is extremely vital," said Gracy Chen, CEO of Bitget. "As the industry evolves, Bitget continues to set benchmarks for safety and transparency, offering users unparalleled confidence to explore crypto opportunities during this bull market," she added.
Launched in 2022 with an initial commitment of $300M, the Protection Fund has grown steadily, offering users added security amidst market fluctuations. This latest valuation reflects Bitget’s robust risk management strategy, ensuring unparalleled asset protection during periods of increased market activity. November's BTC rally and trading volume spikes across the platform highlight the fund’s vital role in boosting user confidence during a bull market.
In addition to the Protection Fund, Bitget’s Proof of Reserves ensures a 1:1 reserve ratio, enhancing transparency and trust. Together, these initiatives position Bitget as a leading exchange offering a secure environment for investors navigating the rapidly evolving crypto landscape.
For detailed Protection Fund and Proof of Reserves reports, visit HERE.
About Bitget
Established in 2018, Bitget is the world's leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.
Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World's Top Football League, LALIGA, in EASTERN, SEA and LATAM market, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.
For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.
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CONTACT: For media inquiries, please contact: media@bitget.com
