Bitget Prepares 5 Million USD Builders Fund to Help Users Distressed by FTX Collapse

Bitget Prepares 5 Million USD Builders Fund to Help Users Distressed by FTX Collapse press release

PRESS RELEASE. Nov 14th, 2022 – Leading global cryptocurrency exchange Bitget announces that it has set aside a 5 Million USD worth of Builders’ Fund, aiming to help those affiliates, influencers and professional traders who are distressed by the FTX collapse.

The market witnessed the collapse of FTX within a week, and worse still, the exchange announced their wallet was hacked after filing for bankruptcy protection in the US. The remaining funds in the company have been wiped out completely. No one is the winner in this chaos, as it continues to harm the whole industry.

Due to the wide range of business offerings, the decline of FTX inevitably has caused a huge impact on the whole Web3 industry, and users of the platform are most affected by this crisis. FTX’s glory in the past is also attributed to the excellent talents and contributors on the platform, including influencers, affiliates and professional traders; however, they are also the ones who have been impacted a lot in this chaos with a huge amount of their assets locked on the platform.

As a leading and reliable cryptocurrency exchange, Bitget always strives to build a healthy environment for builders to develop a better version of the crypto world. In line with the vision, Bitget has set aside a 5 Million USD Builders’ Fund to support affiliates, influencers, and professional traders who have suffered from the FTX incident. Those affiliates could apply for financial aid from the Builders’ Fund with the required credentials. For more details on the application criteria and related terms & conditions, please refer to the announcement.

Gracy Chen, Managing Director of Bitget, says on Twitter, earlier “We have prepared a 5 million USD “Builders’ Fund” to help those innocent victims with different assistance. Moreover, we would like to take this initiative to deliver a message to the fearful market: Bitget and many other active builders are still working hard to cultivate the crypto world. During this dark time, we should join forces, help each other, and wait for dawn.”

About Bitget

Bitget, established in 2018, is the world’s top five leading cryptocurrency exchange with innovative products and social trading services as its key features, currently serving over 8 million users in more than 100 countries around the world.

The exchange is committed to providing one-stop and secure trading solutions to users and aims to increase crypto adoption by collaborations with creditable partners, including Argentinian legendary footballer Lionel Messi, Italian leading football team Juventus, PGL Major’s official esports crypto partner, and the leading esports organization Team Spirit.

For media queries, please contact:

sylvia.huang.yq@bitget.com

rachel.cheung@bitget.com

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