Bitget, a derivatives marketplace, has introduced the ‘Bitget EmpowerX Fund’ to enhance the development of its ecosystem. This fund will focus on investing in regional exchanges, data analytics firms, media organizations, and other entities that contribute to the growth of Bitget’s ecosystem.
- The EmpowerX Fund will deploy $100 million in capital, strategically allocating it to maximize the long-term impact of Bitget in the digital assets space and its ecosystem.
- Bitget aims to expand its business scope by establishing a comprehensive trading ecosystem that includes trading, investment, research, DeFi, media, and other functions.
- Gracy Chen, the Managing Director of Bitget, emphasized the changing landscape of centralized exchanges (CEX) due to tightened regulations, along with the rapid growth of Layer 2 and DeFi technologies. Chen expects more investment, mergers, and acquisitions to occur in the coming months.
- Chen further stated, “Through strategic, targeted investments that foster long-term growth, we aim to continually expand our ecosystem of services to better serve the evolving needs of users. We also want to empower other people in our industry because a rising tide lifts all boats.”
- Last month, Bitget announced a one-year partnership with popular American actor and comedian Adam Devine as part of the #SetForChange campaign.
- The cryptocurrency derivatives exchange, based in Seychelles, aims to promote crypto education and encourage wider adoption among the GenZ crowd through an engaging and lighthearted approach.
- In July, Bitget also unveiled plans to expand its presence in the Middle East by establishing regional headquarters and onboarding more team members over the next two years.