Crypto Exchange Bitget Establishes $100M Pot to Fund Ecosystem Growth

Bitget anticipates tightened regulations and growth of layer-2 blockchain networks and DeFi technologies bringing about an evolution in how centralized exchanges operate.

AccessTimeIconSep 12, 2023 at 1:40 a.m. UTC

Crypto trading platform Bitget has established a $100 million pot to fund growth of its ecosystem through investing in exchanges, data analytics firms and media organizations.

The Seychelles-based company said it wants to "broaden its business horizons" through creating a trading ecosystem that incorporates investment, research, decentralized finance (DeFi), media and other functions, according to emailed announcement.

The fund, called the EmpowerX Fund, follows just months after Bitget set aside $100 million to target Web3 startups as Asian countries. In March, it invested $30 million in decentralized multichain wallet BitKeep to become the largest shareholder.

"Through strategic, targeted investments that foster long-term growth, we aim to continually expand our ecosystem of services to better serve the evolving needs of users," Managing Director Gracy Chen said. "We also want to empower other people in our industry, because a rising tide lifts all boats.”

Bitget said it expects tightened regulations and growth of layer-2 blockchain networks and DeFi technologies to bring about an evolution in how centralized exchanges operate.

It is, therefore, seeking to diversify the services it can offer and capitalize on merger and acquisition opportunities that will be presented in the coming months.

Edited by Sheldon Reback.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.

Read more about