Bitget Launches $100 Million EmpowerX Fund to Expand Ecosystem and Foster Innovation September 18, 2023 September 18, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsSeptember 18, 2023 by Kelly Cromley

Bitget Launches $100 Million EmpowerX Fund to Expand Ecosystem and Foster Innovation

Bitget, a prominent cryptocurrency exchange and copy trading platform, has revealed the establishment of the Bitget EmpowerX Fund. This newly created fund is poised to play a pivotal role in advancing the development of Bitget’s ecosystem. Its primary objective is to identify investment opportunities within regional exchanges, data analytics firms, media organizations, and other entities that contribute to the expansion of Bitget’s ecosystem.

The EmpowerX Fund has been endowed with a substantial capital base of $100 million, underscoring Bitget’s ambitious vision for the future. These financial resources will be deployed strategically and with careful consideration, aiming to maximize the company’s long-term influence within the realm of digital assets and its associated ecosystem. Bitget firmly believes that diversifying its range of services to meet the diverse needs of its global user base is essential. From a strategic standpoint, Bitget intends to broaden its horizons, constructing a comprehensive trading ecosystem that encompasses trading activities, investments, research, DeFi solutions, media engagement, and other essential functions.

Ambitious Investment Strategy Aims to Propel Bitget’s Growth in Crypto Landscape

Gracy Chen, the Managing Director of Bitget, articulated the company’s forward-looking approach, stating, “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, merger, and acquisition will happen in the following months. Our vision goes beyond the present. 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.”

Bitget has been unwavering in its commitment to evolving alongside the dynamic landscape of the cryptocurrency world for several years. Both as a player within the industry and a supportive community member, Bitget has consistently championed the development of the next generation of innovations. One of the latest milestones in this journey was the launch of the $100 Million Web3 Fund in April 2023. This fund has a clear focus on identifying venture capitalists (VCs) and projects globally, with a particular emphasis on Asia-based partners who demonstrate a clear roadmap and a dedication to innovating solutions for real-world challenges. Among the VCs that the Bitget Web3 Fund has invested in are Foresight Ventures, Dragonfly Capital, SevenX Ventures, Gitcoin Fund, DAO Maker, and ABCDE Capital.

Bitget’s Ongoing Evolution: From Decentralization to User-Centric Services

In a concerted effort to bolster its decentralized strategies, Bitget announced a $30 million investment in the decentralized BitKeep multi-chain wallet in March. This strategic move culminated in the rebranding of BitKeep into the Bitget Wallet, establishing Bitget as the controlling stakeholder in this decentralized wallet. This transition marked a significant stride in Bitget’s foray into the decentralized space.

Simultaneously, Bitget has been enhancing its competitive edge within the centralized domain. The exchange remains committed to optimizing the trading experience, expanding its product offerings, and intensifying efforts to cultivate a robust membership base. Underpinning Bitget’s market direction is the new branding philosophy, “Trade smarter,” which underscores the exchange’s dedication to equipping individuals with user-friendly tools for a secure, efficient, and financially promising future. Bitget’s commitment to developing its native ecosystem remains unwavering, as it continues to introduce new products and features aimed at sustaining user interest and fostering fresh engagements.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.