The world’s top Web3 firm and cryptocurrency exchange, Bitget, has published its January 2024 Protection Fund Valuation Report. According to the study, the fund hit a record-breaking high of over $442 million on January 9 and its highest-ever average monthly value of over $415 million, demonstrating Bitget’s dedication to customer protection.
Within the cryptocurrency market, Bitget’s Protection Fund is unique as a substantial user protection mechanism. By offering an extra degree of protection, keeping one of the biggest self-insured funds in the sector fosters user confidence. The fund assists in protecting cryptocurrency holdings against fraud, hacking, and excessive market fluctuations.
“Bitget is focused on better-serving users and protecting their interests through a robust ecosystem of products and expertise. While security remains a top priority for us, what truly sets us apart is our absolute commitment to user protection. We aim to assure people with their crypto by safeguarding their assets and championing their well-being through every market condition,” said Gracy Chen, Managing Director at Bitget.
Bitget’s Protection Fund is a self-funded, autonomous operation that offers flexible protection features free from outside restrictions. Because of its independence, the fund can quickly allocate resources to protect user assets in the case of a security breach, volatile markets, or other unforeseen events. Because of its independence, Bitget customers are guaranteed robust protection that isn’t reliant on outside laws, rules, or permissions that could cause delays or inefficiencies in urgent situations. For Bitget’s user base, the Protection Fund’s self-funded status is a significant strength and security advantage.
Bitget Protection Fund Valuation Status in January 2024:
Highest value: $442 million (Jan 9)
Lowest value: $393 million (Jan 23)
Average value: $415 million
The fund includes a diverse portfolio of high-liquidity cryptocurrencies like BTC, USDT, and USDC to further strengthen its stability and liquidity against external causes. Bitget’s Protection Fund saw steady growth in January despite market fluctuations and the spike in the price of bitcoin, hitting a record-breaking high of more than $442 million on January 9.
Bitget is dedicated to openness that extends beyond the report on Protection Fund Valuation. Verifiable Proof of Reserves data has been continuously provided by the exchange, giving consumers more assurance regarding the protection of their holdings. Bitget still gives users free and unfettered access to money details, including wallet addresses that are visible to the public.
Users can go here for more comprehensive information.
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