$200M BitGet BTC-USDT protection fund hints at investor-centric trend

$200M BitGet BTC-USDT protection fund hints at investor-centric trend


With the ultimate goal to regain investor confidence amid a prolonged bear market, crypto derivatives exchange Bitget launched a $200 million fund to safeguard users’ assets. Bitget joins the growing list of crypto companies, such as Binance, that have taken an investor-centric approach to gain investors’ trust via protection funds.

The Bitget Protection Fund comprises 6,000 Bitcoin (BTC) and 80 million Tether (USDT), valued at $200 million at the time of writing. Considering the fact that crypto winter currently shows almost no signs of slowing down, Bitget pledged to secure the value of the fund for the next three years.

While Bitget chose to self-fund the entire protection fund without relying on a third-party insurance policy, Binance set up its user protection insurance fund, Secure Asset Fund

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