Bitget Unveils $100M EmpowerX Fund for Ecosystem’s Expansion

TL;DR

• Crypto derivatives and copy trading exchange, Bitget announces $100 million EmpowerX fund to expand the platform’s ecosystem.
• EmpowerX fund seeks to invest in regional exchanges, media organizations, data analytics firms, and other entities to diversify its services.

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$100M EmpowerX Fund will Diversify the Ecosystem

Bitget unveils a $100 million EmpowerX Fund to expand its ecosystem by diversifying its services and catering to the varying needs of its $20 million customers.

The $100m pot aims to fund growth in its ecosystem by investing in regional exchanges, media organizations, and data analytics firms.

It's good to see exchanges investing in the broader crypto ecosystem during the bear market pic.twitter.com/nRWiXFbu7o

— Coin Bureau (@coinbureau) September 12, 2023

This EmpowerX Fund will broaden Bitget’s horizons by creating a trading environment incorporating research, investment, and decentralized finance (DeFi), among other functions.

Initially set at $100 million, the pot might see an adjustment, particularly depending on market conditions and as Bitget’s future strategies unfold.

Moreover, the EmpowerX fund will be derived from Bitget’s strategic reserves, distinct from the exchange’s primary budget.

Through strategic, targeted investments that foster long-term growth, we aim to continually expand our ecosystem of services to serve users’ evolving needs better. We also want to empower others in our industry because a rising tide lifts all boats.

Gray Chen, Bitget’s Managing director, said.

It intends to develop its native ecosystem by adding new products and features. 

Additionally, the company emphasizes its dedication to empowering people with intuitive tools for a secure, user-friendly, and practical financial future.

Bitget’s Vision Goes “Beyond Derivative” Strategies

With the launch of EmpowerX Fund, Bitget takes a considerable milestone in its mission to develop its ecosystem into a comprehensive platform for all needs.

It is on a continuous journey towards evolving the ever-changing crypto world and relentlessly supports and develops next-generation innovation.

The EmpowerX funding comes months after the exchange set a staggering $100 million for web3 startups in Asia with innovative projects that solved real-world problems.

Bitget Web3 Fund invested in foresight ventures, SevenX ventures, Dragonfly Capital, Gitcoin Fund, DAO Maker, and ABCDE Capital.

Given that the crypto derivative anticipates tighter regulations, the crypto derivative expects tightened regulations. In addition to the growth of layer-2 blockchain and DeFi technologies to bring evolution to how centralized exchanges operate.

Subsequently, it has plans to diversify its services and capitalize on potential merger and acquisition opportunities.

Bitget is Strengthening its Competitive Edge

The copy trading exchange is also actively pushing its decentralized strategies. 

In recent months, the Seychelles-based firm made headlines with a $30 million investment in a decentralized BitKeep multi-chain wallet.

Bitget later rebranded it into Bitget Wallet, making it the controlling shareholder of the wallet. This is a massive stepping stone for the copy trading exchange to a decentralized space.

Far from that, it is strengthening its competitive edge in the centralized domain. Bidget is continually optimizing its trading experience, enriching its product matrix.

With its Trade Smarter slogan, Bitget will now underpin its market direction. 

Will the funding align with Bitget’s vision of empowering users with intuitive tools to maintain user interest and drive new engagements? 

It’s a matter of time; let’s see how things unfold in Bitget’s ecosystem.

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