Bitget's Protection Fund in July Sustains 35% Above Initial $300M Commitment Amidst Market Volatility 
Bitget
VICTORIA, Seychelles, 6th August, 2024 — Bitget, the leading cryptocurrency exchange and Web3 company, has released the updated valuation of its Protection Fund for July 2024. Irrespective of the market volatility, the fund carries adequate insurance significantly still exceeding the company's initial commitment of $300 million sustaining itself at an average of $407M last month.
The Protection Fund is designed to safeguard users' assets and stands as an essential layer of security in maintaining comprehensive security measures. Established in December 2022, the Protection Fund is entirely self-funded and stored in publicly visible wallets, ensuring transparency and immediate access when needed. Bitget's
Proof of Reserves, another layer of security introduced in December 2022, further reinforces the company's commitment to asset safety, maintaining a reserve ratio of at least 1:1 for user assets.
"Our priority is to safeguard user assets amidst market fluctuations and uncertainties. Bitget's Protection Fund is an additional layer of trust to elevate our user security. By maintaining a substantial reserve, we ensure a reliable and secure trading environment," says
Gracy Chen, CEO at Bitget
The month of July experienced high volatility due to which the the Protection Fund's valuation exhibited significant fluctuations. With a high of $443,574,608 on 29th and a low of $363,222,440 on 8th. These variations are directly correlated with
BTC price movements, which saw the highest price of $68,242 and the lowest price of $55,880 on same dates.
Bitget Protection Fund Chart 30-DAY (July 2024)
The valuation changes mirrored BTC price trends since the BTC balance remained constant at 6,500 BTC. Daily changes in valuation highlighted the market's volatility, with the largest increase occurring between July 20 and July 21, where the valuation rose by $3,357,354. The largest decrease was observed between July 1 and July 2, dropping by $4,552,172.
The updated Protection Fund reflects Bitget's proactive stance in providing a secure trading environment. By maintaining a substantial reserve, Bitget ensures that users' assets are protected against potential risks and unforeseen market fluctuations. This financial safeguard, comprising diversified assets, enhances the fund's resilience and ability to address various market conditions. Bitget continues to prioritize user safety and trust. With the Protection Fund, it emphasizes its ongoing efforts to provide a secure and reliable platform for
crypto trading.
About Bitget
Established in 2018, Bitget is the world's leading
cryptocurrency exchange and Web3 company. Serving over 25 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 Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team).
For media inquiries, please contact:
media@bitget.com
2024-08-06
Bitget Monthly Report: July 2024 EditionHow to buy BTCBitget lists BTC – Buy or sell BTC quickly on Bitget!
Trade nowRecommended
BitgetImportant Notice — Regarding Monetary Authority of Singapore (MAS)Bitget is not licensed, approved, registered, authorized or in any other way regulated by the Monetary Authority of Singapore (“MAS”), and is not subject to supervision by MAS. Bitget does not make its products or services available to, and does not solicit or target, persons in Singapore. Singapore is a restricted jurisdiction (being one of the listed “Prohibited Countries”) under Bitget's Terms of Use, and access to the Bitget platform from Singapore is restricted. Nothing published by Bitget2026-07-21
BitgetBitget rToken Surpasses $100M AUM as rSPCX Leads Early Tokenized Equity Demand By Ryan Lee, Chief Analyst at Bitget Research Executive Summary Bitget rToken crossed $100M in AUM within five weeks of launch, reaching approximately $114M by July 6, 2026. Since launch on June 2, rToken recorded $671.37M in cumulative trading volume, with average daily volume of $19.75M and a peak single-day volume of $56.16M. The latest asset-level data shows rSPCX as the largest rToken by cumulative trading volume, accounting for 23.51% of the total. rCSCO follows with 17.75%, while rNVDA2026-07-08
BitgetQ3 2024 Transparency Report: Bitget becomes 4th Largest Exchange by Volume TLDR; Bitget reached 45M users, ranking as the 4th largest crypto exchange globally, with a major focus on accelerating financial freedom. The exchange led in APAC trading, accounting for 31% of trading volume and 26% on weekends, driven by retail activity. Foresight Ventures and Bitget committed $30M to support TON blockchain development and Telegram-based projects. The company elaborated its token-discovery strategies through on-chain data and community insights with Nansen Research. Bitget2024-10-29
We offer all of your favorite coins！
Buy, hold, and sell popular cryptocurrencies such as BTC, ETH, SOL, DOGE, SHIB, PEPE, the list goes on. Register and trade to receive a 6200 USDT new user gift package!
Trade nowHow to buy BTCBitget lists BTC – Buy or sell BTC quickly on Bitget!
Trade now