Bitget Unveils $100M Fund to Expand Ecosystem and Foster Strategic Partnerships

cryptonews.com:

Bitget, a crypto exchange platform, announces a new $100 million to focus on the growth of its ecosystem. The fund is believed to be focused on developing regional exchanges, analytics firms, and media organizations. 

Bitget, the Seychelles-based company, commenced a series of funding earlier this year after launching $300 million to bolster the development of Web3 and decentralized applications (dApps).

Yesterday, the crypto exchange launched another $100 million fund called EmpowerX. 

In an email announcement, Bitget unveiled its ambitious plan to deploy the $100 million capital for an extended footprint in the Web3 domain.

The exchange is shifting its focus beyond trading, aiming to diversify investments to cater to a broader global user base.

Areas of interest now encompass decentralized finance, research, media organization, and various other ventures.

Gracy Chen, the Managing Director of Bitget, expressed keen anticipation for increased investments and potential mergers within the centralized exchange sphere, primarily in response to evolving regulatory landscapes.

She underscored that the Bitget EmpowerX Fund represents a pivotal stride toward transforming Bitget into a comprehensive platform tailored to meet the ever-evolving demands of crypto enthusiasts.

Furthermore, Chen outlined their strategy to expand their ecosystem through strategic, growth-oriented investments.

She envisions a significant operational evolution for centralized exchanges, propelled by tightening regulations and the burgeoning landscape of layer-2 blockchain networks and DeFi technologies. This marks a critical phase in Bitget's journey towards shaping the future of crypto exchanges.

"Through strategic, targeted investments that foster long-term