Bitget ‘gradually back to usual’ as protection fund reaches $309M
60-second summary
Bitget announces its protection fund has reached $309 million, signaling the exchange is “gradually back to usual” after the 2022 fund absorbed the $388 million loss from a security incident; CEO Gracy Chen emphasizes restored liquidity and user confidence, while the sizable reserve suggests the platform can weather future shocks, bolstering overall market stability.
Bitget CEO Gracy Chen said that a protection fund created by the company in 2022 “absorbed the financial impact of the incident“ that resulted in $388 million in user losses.