The popular crypto-exchange Bitget has secured a $10 million investment from Dragonfly as support for its continued expansion.
Summary
Bitget and $10M investment to expand the crypto-exchange
Global cryptocurrency-focused venture capital firm Dragonfly has announced its $10 million strategic investment in Bitget’s crypto-exchange.
This is Dragonfly’s support for the expansion of Bitget‘s global market and range of service offerings.
Not only that, the investment will support the global crypto derivatives and copy trading platform in its upcoming CSR initiatives aimed at increasing cryptocurrency education and adoption.
In this regard, Gracy Chen, CEO of Bitget, commented as follows:
“Dragonfly is a highly respected investor in the crypto industry, and we are honored to have them on board. As the fastest-growing exchange in the past 12 months, this investment is a recognition of our focus on BUIDL in the bear run.Â
Except for the cash inflow, what will benefit us more from the Dragonfly partnership is their crypto savvy and insights. Together, we will be able to discover more growth opportunities and contribute more to the sustainable growth of our industry.”
Bitget and the significant growth of the crypto-exchange
Over the past year, Bitget’s crypto exchange has experienced significant growth in terms of transaction volume, user base, and the range of its products.
According to a Boston Consulting Group (BCG) report published in July 2022, Bitget was also ranked as one of the top 3 cryptocurrency derivatives exchanges.
Not only that, Bitget is also the first and largest crypto copy trading platform in the world, with more than 80,000 traders sharing their strategies and more than 380,000 followers copying them as of this February.
Its involvement as a sponsor, has also led the crypto-exchange to enter into major partnerships such as with legendary Argentine soccer player Lionel Messi and then with Italy’s leading soccer team, Juventus.
The latest sponsorship signed by Bitget was with the Juventus women’s team, Juventus Women. The agreement became official on International Women’s Day on 8 March 2023.
Gracy Chen and the interview with The Cryptonomist.
Over the weekend, The Cryptonomist featured an interview with Bitget’s Managing Director Gracy Chen who briefly told her story.
While Bitget was founded in 2018, Chen had held executive roles at XRSPACE, a VR technology company, leading the marketing and business development functions.
Not only that, before that, Chen also served as an anchor and producer for the fintech channel Phoenix TV, one of the largest media conglomerates in China, reporting extensively on financial events and interviewing technology industry leaders.
Chen has been at the helm of Bitget since its inception, leading the company to become one of the fastest growing crypto trading platforms in the world.
During the interview, Chen also talked about Bitget’s new Innovation Zone, which gives users access to recently listed innovative and emerging digital assets and projects in their early stages.
