Bitget's $100 million EmpowerX Fund will invest in regional exchanges, data analytics firms, media organizations and other entities.
The fund will invest in regional exchanges, data analytics firms, media organizations and other entities.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.
Crypto derivatives and copy-trading exchange Bitget has unveiled its EmpowerX Fund, a $100 million initiative designed to expand the platform's ecosystem. Bitget’s new fund will seek to invest in regional exchanges, data analytics firms, media organizations and other entities, according to a statement coinciding with Bitget's fifth-anniversary summit in Singapore today. Bitget said the key to expanding its ecosystem was diversifying its services to cater to the varying needs of its 20 million global customers. It also said it aimed to create “a comprehensive trading ecosystem encompassing trading, investment, research, DeFi, media and other functions.” “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, mergers and acquisitions will happen in the following months,” Bitget Managing Director Gracy Chen said in the statement. Bitget has set aside $100 million for the fund, but that figure may increase depending on market conditions and future business strategy, a spokesperson told The Block. The $100 million is sourced from Bitget's strategic reserves, which are seperate from the company's core budget, and has already been allocated to the fund ready for investment, the spokesperson added. "We prefer investing in the company's future without relying on external funding at this moment," Chen told The Block.in April, which prioritized Asia-based projects and invested with global VCs — including Foresight Ventures, SevenX Ventures and Gitcoin Fund.in March. With Bitget taking a controlling stake, it was subsequently rebranded to Bitget Wallet as part of the company's “go beyond derivatives" strategy.from crypto venture capital firm Dragonfly Capital in April to continue expanding into spot trading and yield-generating products and to grow its launchpad initiative.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BetMGM Kentucky promo code: Earn $100 pre-registration bonus with early sign-upProspective Kentucky customers must activate our BetMGM Kentucky promo code to score $100 in bonus bets on launch day.
Read more »
Michael Irvin returns to NFL Network, settles $100 million lawsuit with Marriott after misconduct allegationsFormer Dallas Cowboys star and Hall of Famer Michael Irvin settled his defamation lawsuit against Marriott and officially returned to the NFL Network on Sunday morning, just in time to kick off the 2023 season.
Read more »
Michael Irvin returns to NFL Network, settles $100 million lawsuit with Marriott after misconduct allegationsFormer Dallas Cowboys star and Hall of Famer Michael Irvin settled his defamation lawsuit against Marriott and officially returned to the NFL Network on Sunday morning, just in time to kick off the 2023 season.
Read more »
17 smart devices under $100 that will make your life a whole lot easierThere are many devices available that can help us live our daily lives. Some of them are almost smarter than we are.
Read more »
Bitget announces further $100M fund for ecosystem developmentBitget managing director Gracy Chen said that the fund is “another major step” in the exchange’s mission to be a comprehensive platform.
Read more »