Bitget announces further $100M fund for ecosystem development
The announcement follows the launch of a $100 million fund back in April focused on investing in crypto projects in Asia. Crypto derivatives platform Bitget has announced a new fund focusing on growing its ecosystem and investing in regional exchanges, analytics firms, media organizations and entities that can contribute to its growth. In an announcement sent to Cointelegraph, Bitget revealed the Bitget EmpowerX Fund, which will invest $100 million into maximizing the company’s “long-term impact” in the crypto space. According to the announcement, Bitget believes that diversifying services to reach the needs of the global user base is the key to expanding the native crypto ecosystem . Gracy Chen, managing director of Bitget, said the company expects more investments, mergers and acquisitions in the coming months as the centralized exchange landscape evolves with changes in regulations. According to Chen, the fund is “another major step” in the company’s mission to make Bitget a com...