Bitget's Protection Fund Report in March 2024 - Chainwire

03Apr

Bitget’s Protection Fund Report in March 2024

Victoria, Seychelles, April 3rd, 2024, Chainwire

Bitget, the world’s leading cryptocurrency exchange and Web3 company, has recently disclosed its March 2024 Protection Fund Valuation Report. The report reveals a remarkable achievement as the fund reached its pinnacle with an unprecedented valuation of over 612 million on March 13th. This underscores Bitget’s unwavering commitment to ensuring the security and protection of its users’ assets.

In the landscape of cryptocurrency, Bitget’s Protection Fund stands out as a beacon of reassurance for users, demonstrating a robust dedication to their security. Esteemed as one of the sector’s foremost self-insured reserves, it fortifies user confidence by offering an additional layer of protection. This fund is meticulously crafted to shield digital assets from a spectrum of risks, ranging from cyber threats and fraudulent schemes to substantial market volatility.

Functioning under a self-sustaining framework, Bitget’s Protection Fund provides agile and adaptable protective strategies devoid of external dependencies. Its independence enables swift resource allocation to safeguard user assets during security breaches, market turbulence, or critical events. This autonomous approach ensures Bitget’s clients receive resilient protection without the encumbrance of external regulations, policies, or authorizations that could impede timely responses in emergencies. The fund’s self-reliant structure serves as a pivotal advantage, delivering significant safety and security enhancements to Bitget’s user community.

To fortify its strength and liquidity amidst external market dynamics, the fund encompasses a diverse array of highly liquid digital assets, including BTC, USDT, and USDC. Throughout March, propelled by market shifts and the surge in BTC valuation, Bitget’s Protection Fund exhibited steady expansion, reaching an unprecedented valuation surpassing $612 million on March 13th, marking a new pinnacle. In March, its average monthly valuation surpassed 577 million, significantly exceeding Bitget’s guaranteed amount of 300 million.

Bitget Protection Fund Valuation Status in March 2024:

Highest value: $ 612 million (March 13)

Lowest value: $ 540 million (March 2)

Average value: $ 577 million

“Bitget is dedicated to enhancing user experience and safeguarding their interests with a comprehensive range of products and expertise. Our primary focus is on security, but what distinguishes us is our unwavering dedication to protecting our users. Our goal is to provide peace of mind to our users by securing their digital assets and supporting their welfare across all market environments.” said Gracy Chen, Managing Director at Bitget.

Bitget’s commitment to transparency goes beyond the Protection Fund Valuation report. The exchange has consistently offered verifiable Proof of Reserves data, providing users with additional confidence in the security of their assets. Bitget continues to grant users unrestricted access to comprehensive fund information, including publicly available wallet addresses.

For more detailed information, users can visit here.

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 20 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. 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, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL.