Bitget

The company was founded in July 2018, registered in Seychelles with Sandra Lou as the CEO, and Gracy Chen as the managing director.[11][12][13][14] The exchange experienced notable growth in 2022 & 2023.[15][16]

In July 2022, a joint report by Boston Consulting Group, Foresight Ventures and Bitget aimed to ascertain the prospective worldwide expansion of cryptocurrencies. The report's findings indicated a heightened valuation in emerging markets, where cryptocurrency adoption surpasses that of developed markets. These emerging markets exhibit a growing demand for services catering to unbanked populations, facilitating payments, and providing access to income-generating opportunities.[17][18][19]

The exchange promised the issuance of a regular Proof-of-Reserves report since November 2022.[20][21] In December 2022, the company introduced a measure aimed at enhancing transparency regarding its platform assets, known as Proof of Reserves. This mechanism is scheduled for monthly updates, with the primary objective of maintaining a reserve ratio of at least 1:1 in relation to customer funds. The company has contributed to an open-source tool, MerkleValidator, on the GitHub platform, affording users the means to independently validate the existence of their assets within the exchange's holdings.[22] [23]

In March 2023, Bitget invested $30 million in the decentralized BitKeep multi-chain wallet, becoming its controlling stakeholder.[24] Bitget disclosed user base to exceed 20 million after the integration with BitKeep, later known as Bitget Wallet.[25]

In April 2023, Dragonfly Capital, San Francisco-based venture capital firm, invested $10 million in the exchange as part of a strategic funding round.[26] In this month, Bitget also received warnings from the regulators in Japan.[27]

In May 2023, Bitget launched Blockchain4Youth - the goal of the initiative is to support access to blockchain education and provide blockchain courses and certifications, and host campus lectures in partnership with universities.[28] Earlier that month, Bitget released their findings of a comprehensive study examining the correlation between demographic shifts and cryptocurrency adoption rates across multiple generations, thereby substantiating the foundations of this youth initiative. The research encompassed the analysis of over 255,000 survey responses obtained from 26 countries, divided into four distinct age group categories. The study's findings revealed that cryptocurrency ownership was most prevalent among Millennials, constituting 46% of the total, followed by Gen X at 25%, and Gen Z at 21%.[29]

Bitget later introduced research that elucidated the financial aspirations and objectives held by cryptocurrency investors, further dissecting distinctions in investment behaviors on a global scale. The study comprised the analysis of more than 1,500 survey responses, representing a diverse range of participants from 20 countries, spanning Europe, China, Japan, South Korea, Turkey, as well as English-speaking regions. The research also unveiled contrasting motivations between male and female investors.[30][31]

Bitget requires users to complete mandatory Know Your Customer (KYC) requirements as of September 1, 2023.[32][33]

Bitget has completed registration as a virtual asset service provider in Lithuania and registered as Virtual Asset Service Provider in Poland.[34][35]

In May 2023, the independent news platform specializing in blockchain and emerging technology, South China Morning Post & Forkast News, documented the rising prominence of Hong Kong and Singapore as the leading epicenter for Web3 initiatives within the Asian region. Concurrently, the report highlighted a notable surge in digital asset enterprises, such as OKX and Bitget, seeking ways to get involved within the aforementioned jurisdiction.[36][37]

In July 2023, Bitget initiated the provision of fiat currency or cryptocurrencies to users through the utilization of their cryptocurrency assets as collateral, a financial practice commonly referred to as cryptocurrency lending.[38]

In September 2021, the exchange partnered with Juventus as its first crypto partner and sleeve advertiser.[10][39]

In October 2022, Lionel Messi became an official partner of Bitget.[40][41][42]

BGB is the native token issued by Bitget.[43][44] In April 2023, Bitget published an updated version of the BGB White paper which outlines the token's development roadmap, and its intended use case and associated economic principles.[45] According to independent crypto research firm, TokenInsight, the Bitget Token reported a 80% increase in trading volume in the first half of 2023.[46]

• Official website