Bitget, the world’s leading cryptocurrency exchange and Web3 company, released its February 2024 Protection Fund Valuation Report.
Bitget, the world’s leading cryptocurrency exchange and Web3 company, released its February 2024 Protection Fund Valuation Report. According to the report, the fund recorded its highest average monthly valuation, surpassing US$461 million, and peaked at an unprecedented US$543 million on February 28. This highlights Bitget’s dedication to safeguarding its users.
Within the cryptocurrency realm, Bitget’s Protection Fund is recognised for its substantial commitment to safeguarding users. It stands as one of the industry’s most significant self-insured reserves, enhancing user trust by providing an extra security layer. This fund is designed to protect digital assets against various risks, including cyber attacks, fraudulent activities, and significant market fluctuations.
Operating on a self-sustaining model, Bitget’s Protection Fund offers flexible and swift protective measures unrestricted from external influences. Its autonomy allows for the immediate allocation of resources to secure user assets during security breaches, market unrest, or other pertinent incidents.
This self-reliant strategy affords Bitget’s clientele robust protection, unfettered by the potential hindrances of external rules, policies, or permissions that might slow response times in urgent scenarios. The fund’s self-sufficient framework is a key asset, providing a notable safety and security benefit to the Bitget user base.
To bolster its resilience and liquidity in the face of external market pressures, the fund includes a varied collection of highly liquid digital currencies, such as BTC, USDT, and USDC. In February, buoyed by market trends and a rise in BTC’s value, Bitget’s Protection Fund experienced consistent growth, culminating in a record-breaking valuation exceeding US$543 million on February 28.
Bitget Protection Fund Valuation Status in February 2024:
Highest value: US$543 million (Feb 28)
Lowest value: US$413 million (Feb 4)
Average value: US$461 million
“Bitget is dedicated to enhancing user experience and safeguarding their interests with a comprehensive range of products and expertise. Our primary focus is on security, but what distinguishes us is our unwavering dedication to protecting our users. Our goal is to provide peace of mind to our users by securing their digital assets and supporting their welfare across all market environments.” said Gracy Chen, Managing Director at Bitget.
Bitget’s commitment to transparency goes beyond the Protection Fund Valuation report. The exchange has consistently offered verifiable Proof of Reserves data, providing users with additional confidence in the security of their assets. Bitget continues to grant users unrestricted access to comprehensive fund information, including publicly available wallet addresses.
Learn more at Bitget Academy
Merkle Tree & Proof-Of-Reserves (PoR)
To utilise blockchain technology and its intrinsic transparency as well as immutability – we need first to understand the concepts of Merkle Tree and Proof-Of-Reserve.
The Pre-Halving Surge: Bitcoin Hits $65K, Approaching Its All-Time High
In early March 2024, Bitcoin’s surge to US$65,000 has captured the attention of investors and enthusiasts alike. As we approach the much-anticipated Bitcoin halving event, the market is buzzing with speculation and analysis. Explore the factors driving this pre-halving surge, underlying dynamics and what they could mean for Bitcoin’s future.
BGB Broke Its ATH On Valentine’s Day
While the broader markets heavily focus on the ‘Bitcoin back to US$50K’ narrative, we are excited to see BGB outperform the billion-market cap club with new ATH records. Bitget’s native token breached the US$1 mark within less than 50 days into the new year and only around two years after relaunch.
About Bitget
Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 20 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organiser PGL.
For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
For media inquiries, please contact: [email protected]
Source: https://bravenewcoin.com/insights/bitget-safeguarding-investor-funds-amid-bitcoin-surge