Bitget, a cryptocurrency exchange, has established a Web3 Fund to provide financial assistance to venture capital companies and projects worldwide that are Web3 friendly. The exchange will prioritize Asian initiatives that are led by competent teams and have clear roadmaps, with an emphasis on finding solutions to challenges that exist in the real world. Gracy Chen, CEO of Bitget, has emphasized the exchange’s dedication to making Web3 a worldwide phenomenon, just as Web2 was. Web2 was a sensation that spread across the globe. The goal of the Bitget Web3 Fund is to identify the initiatives that will have the greatest possible influence on the procedure.
Foresight Ventures, ABCDE Capital, SevenX Ventures and DAO Maker are just a few of the venture capitalists that may be interested in participating in this endeavor as possible partners. Another potential partner is Dragonfly Capital, which has just invested $10 million in Bitget to help the company’s continued worldwide development.
Over 80,000 traders and 380,000 replica traders have joined Bitget since the platform’s inception in 2018. The exchange has ambitions to expand the items it offers in 2023, including spot trading, launchpad and Bitget Earn. Bitget just paid $30 million to acquire BitKeep, a Web3 access gateway that has more than 9.5 million customers.
Bitget established a fund with a capitalization of $200 million during the bear market that took place in 2017 to protect its clients’ assets and regain the confidence of investors. The value of the fund was guaranteed to be preserved by the exchange for a period of three years. In addition, during the previous year, Bitget introduced strict Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures to prevent dishonest people from using its services.
The fact that Bitget has decided to establish a Web3 fund is proof of the company’s dedication to promoting growth within the Web3 ecosystem. The exchange intends to discover and support initiatives that have the potential to have the greatest influence in making Web3 a phenomenon on a worldwide scale, and it will do this with the assistance of its possible partners. Bitget’s goals for development through the year 2023 demonstrate the company’s commitment to satisfying the ever-evolving demands of its customer base, while maintaining its position as the market leader in cryptocurrency exchange.
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