Bitget’s Q2 2024: $700M Influx and Sports Partnerships

Bitget reported significant growth in Q2 2024, including a 50% surge in website traffic and the addition of 2.9 million new users.

The exchange claims to have attracted 10 million monthly visitors and saw a 10% rise in spot trading volume compared to Q1. Additionally, Bitget noted a substantial increase in its Bitcoin, Tether, and Ethereum holdings, totaling a 70% growth equating to approximately $700 million in capital inflow.

During the quarter, Bitget forged partnerships with Turkish national athletes as part of its global expansion efforts, alongside football star Lionel Messi.

CEO Gracy Chen expressed gratitude for community support and emphasized their commitment to advancing Web3 technologies.

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Bitget also launched a $20 million ecosystem fund in collaboration with Foresight Ventures to bolster early-stage projects on The Open Network (TON).

The exchange highlighted its proof-of-reserves report showing asset ratios above 100%, ensuring transparency and security.

Moreover, Bitget strengthened user protection by partnering with Sumsub to counter deepfake scams in KYC verification processes, responding proactively to emerging threats in the crypto space.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.