Leading global cryptocurrency exchange and Web3 company Bitget has announced the latest valuation of its Protection Fund for April 2024. The fund has an average monthly value of $428 million, reaching its highest valuation of $465 million on April 8th. This demonstrates Bitget’s commitment to user protection.
Since August 2022, the Protection Fund has served as a crucial pillar of Bitget’s user-centric approach, reflecting its dedication to providing a secure trading environment. The Bitget Protection Fund aims to offer additional protection to users, safeguarding their crypto assets from hackers, fraud, and extreme market conditions, thereby fostering trust among users.
The Bitget Protection Fund is completely self-funded and operates independently, allowing for rapid and adaptive responses to unforeseen challenges. In volatile market environments or unexpected events, the fund can quickly reallocate resources to mitigate risks and protect user assets.
Throughout April, driven by market trends and BTC valuation, the Bitget Protection Fund remained stable with an average monthly valuation of $428 million, surpassing the $300 million commitment made by Bitget in October 2022. During this period, Bitget temporarily removed USDT from the Protection Fund, aiming to provide more funding support for the development of the Bitget ecosystem. Even after this adjustment, the Bitget Protection Fund still holds a total of 6,500 BTC.
Valuation status of the Bitget Protection Fund in April 2024:
Highest value: $465 million (April 8th)
Lowest value: $394 million (April 30th)
Average value: $428 million
Gracy Chen, General Manager of Bitget, stated, “Bitget prioritizes security, and our Protection Fund reflects our unwavering commitment to safeguarding user assets. We maintain the fund valuation above $300 million to enhance the security of users’ digital assets and provide peace of mind.”
Bitget’s pursuit of transparency extends beyond publicly disclosing the valuation reports of the Protection Fund. The exchange has consistently provided verifiable reserve proof data, instilling greater confidence in the security of user assets. Bitget will continue to provide comprehensive fund information to users, and the public can also view the wallet address of the Protection Fund. For more details, please visit here.
Bitget PoR
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