Crypto Giant Bitget Launches $100,000,000 to Support New Asian Crypto Projects
Crypto trading platform Bitget is launching a $100 million fund to invest in Asia-based Web3 startups.
In a new press release, Bitget says its new “Web3 Fund” will target crypto projects in Asia that have an experienced team and a focus on real-world use cases.
Says Gracy Chen, Bitget’s CEO,
“We can see that the Web3 area is developing rapidly and many projects deserve support to further promote such development and make Web3 a truly global phenomenon, as Web2 had once become. Therefore, the Bitget Web3 Fund will endeavor to seek out projects which has the greatest impact on this process.
We take a fully conscious and responsible approach in this regard and know how important accountability is when dealing with any innovative project that requires investment. We strive to support financial innovation in Asia and believe that our platform can act as a reliable, convenient and secure link between the worlds of DeFi (decentralized finance) and CeFi (centralized finance). Our team of analysts has already outlined the project selection criteria and will follow them strictly.”
Per Bitget, other venture capital firms have already reached out to partner with the fund, including Foresight Ventures, Dragonfly Capital, SevenX Ventures, DAO Maker and ABCDE Capital.
The creation of the fund is the latest effort under Bitget’s business strategy called “Going beyond derivatives”, which seeks to speed up crypto adoption.
Previous moves include last month’s $30 million investment in crypto wallet BitKeep, making Bitget the largest stakeholder.
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered straight to your inbox
Check price action
Follow us on TwitterFacebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk and any losses you incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
