In a bid to broaden its long-term influence in the crypto arena, Bitget, a prominent crypto derivatives platform, recently declared the inception of the Bitget EmpowerX Fund. With an investment pool of $100 million, the fund concentrates on enriching its ecosystem while investing in entities like regional exchanges, analysis firms and media organizations that would boost its growth considerably.
This fund reflects Bitget’s strategy to amplify its solutions, catering to the global user foundation in an attempt to expand the native crypto environment. The company’s goal is to stay in sync with the ever-evolving demands of the crypto users, thus making it a comprehensive platform for their varied needs.
Gracy Chen, the Managing Director of Bitget, has expressed her prediction for an increase in the company’s investments, mergers, and acquisitions in the forthcoming months. This anticipated rise will emerge as the centralized exchange landscape experiences transformations due to changes in regulations. According to Chen, the EmpowerX Fund denotes a big step forward in Bitget’s mission.
Hoping to uplift other industry players, Bitget’s MD said, “We also want to empower other people in our industry because a rising tide lifts all boats”. This manifests the company’s vision of community growth and mutual development, reaffirming their commitment to the crypto industry.
Only a few months earlier, Bitget also initiated a $100 million Web3 fund focused on crypto projects in Asia. The aim was to finance Web3-friendly projects worldwide while highlighting those with proficient teams in Asia working to tackle real-world challenges.
Furthermore, Bitget also took the lead over multichain wallet BitKeep, which later rebranded into Bitget Wallet after a $30 million controlling stake purchase in March. As BitKeep changed its name to Bitget Wallet, it also launched an in-wallet feature known as Bitget Swap on August 10.
The recent initiatives reflect Bitget’s consistent pursuit for expansion and empowerment in the crypto space. However, only time can reveal the actual impact of these measures on the global crypto ecosystem. One can hope for a positive outcome and continued progress, but it’s also important to remember the shifting landscape of regulations and policies, which hold potential to influence the course of these investments significantly.
Source: Cointelegraph
