September 13, 2023

Bitget Announces $100Mln Fund for Crypto Ecosystem Development

Bitget

Bitget

Bitget, a platform for crypto derivatives, recently introduced its Bitget EmpowerX Fund. 

The fund is intended to increase the platform’s ecosystem and invest in various regional exchanges, media organizations, analytics firms, and other entities that will contribute to its growth. The company plans to invest $100 million in the fund to maximize its long-term impact in the crypto industry. Bitget believes that diversifying its services to cater to the needs of its global user base is vital to expanding the native crypto ecosystem. 

Gracy Chen, the managing director of Bitget, anticipates more investments, mergers, and acquisitions in the following months as the regulatory landscape of centralized exchanges evolves.

Chen stated that the fund is a significant move towards Bitget’s goal of becoming a comprehensive platform that meets the evolving needs of cryptocurrency users. Additionally, Chen expressed the company’s desire to support others in the industry as a rising tide lifts all boats. 

Earlier this year, the crypto derivatives exchange unveiled a $100 million Web3 fund for crypto projects in Asia. Bitget recently announced that it will seek to invest in Web3-friendly projects worldwide, particularly in Asian projects led by experienced teams addressing real-world issues.

Who Is Gracy Chen? 

Chen is a metaverse and crypto enthusiast who assumes the managing director of Bitget. She got a bachelor’s of science from the National University of Singapore in addition to a master’s degree from the 

Massachusetts Institute of Technology. Chen was named a Global Shaper by the World Economic Forum in 2015.

Chen started her career in the startup domain in 2017 by founding Reig, which is a tech startup in Beijing with a value of $2 million. In 2020, she assumed the chief marketing officer of XRSPACE, a VR technology company headquartered in Taipei.

In June 2022, Chen was appointed as the general manager of Bitget, overseeing the growth and expansion of global markets, strategy, execution, business, and corporate development of Bitget in the crypto space. 

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