{"id":479987,"date":"2022-08-01T11:57:58","date_gmt":"2022-08-01T08:57:58","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/200m-bitget-btc-usdt-protection-fund-hints-at-investor-centric-trend\/"},"modified":"2022-08-01T11:57:58","modified_gmt":"2022-08-01T08:57:58","slug":"200m-bitget-btc-usdt-protection-fund-hints-at-investor-centric-trend","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/200m-bitget-btc-usdt-protection-fund-hints-at-investor-centric-trend\/","title":{"rendered":"# $200M BitGet BTC-USDT protection fund hints at investor-centric trend"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3ec23e69da3\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3ec23e69da3\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/200m-bitget-btc-usdt-protection-fund-hints-at-investor-centric-trend\/#%E2%80%9D_200M_BitGet_BTC-USDT_protection_fund_hints_at_investor-centric_trend_%E2%80%9C\" >&#8221; $200M BitGet BTC-USDT protection fund hints at investor-centric trend &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_200M_BitGet_BTC-USDT_protection_fund_hints_at_investor-centric_trend_%E2%80%9C\"><\/span>&#8221; $200M BitGet BTC-USDT protection fund hints at investor-centric trend &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDgvNzBjZTljMTQtZTNlOS00ZmNkLWI1ZTItZDdjNmZhOTk3ODhmLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-28d77a7a>With the ultimate goal to regain investor confidence amid a prolonged bear market, crypto derivatives exchange Bitget launched a $200 million fund to safeguard users\u2019 assets. Bitget joins the growing list of crypto companies, such as Binance, that have taken an investor-centric <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roach to gain investors\u2019 trust via protection funds.<\/p>\n<p>The Bitget Protection Fund comprises 6,000 Bitcoin (BTC) and 80 million Tether (USDT), valued at $200 million at the time of writing. Considering the fact that crypto winter currently shows almost no signs of slowing down, Bitget pledged to secure the value of the fund for the next three years.<\/p>\n<p>While Bitget chose to self-fund the entire protection fund without relying on a third-party insurance policy, Binance set up its user protection insurance fund, Secure Asset Fund for Users (SAFU), by allocating 10% of the trading fee. Starting off in 2018, SAFU reached a $1 billion valuation by early 2022. Sharing details about the newly founded fund, Gracy Chen, managing director of Bitget, added:<\/p>\n<blockquote><p>\u201cThe protection fund will help us mitigate investors\u2019 concerns and attract potential users. As we continue to endure the crypto winter, it is crucial that our users can rest assured that their\u00a0funds are kept safe.\u201d<\/p><\/blockquote>\n<p>Bitget\u2019s reasoning behind using a combination of stablecoin and BTC in the protection fund is to counter massive unforeseen volatility in crypto markets. Further safeguarding investors, Bitget implemented stringent Know Your Customer (KYC) and Anti-Money Laundering (AML) policies to disallow bad actors from using its services.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Voyager can&#8217;t guarantee all customers will receive their crypto under proposed recovery plan<\/em><\/strong><\/p>\n<p>Soon after filing for bankruptcy, crypto lending firm Voyager Digital revealed that it might not be able to reimburse all of its customers under the proposed recovery plan.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Voyagers,<\/p>\n<p>We understand how critical it is to get access to the value in your account and we are working through this process as quickly as possible to do just that. Today\u2019s post provides an update on customer cash and crypto, and next steps: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/yBlVB0qgVp\">https:\/\/t.co\/yBlVB0qgVp<\/a> (1\/6)<\/p>\n<p>\u2014 Voyager (@investvoyager) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/investvoyager\/status\/1546509898388832258?ref_src=twsrc%5Etfw\">July 11, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Upon court\u2019s approval, Voyager\u2019s proposed recovery plan involves reimbursing users\u2019 funds worth roughly $1.3 billion in a combination of Voyager tokens, cryptocurrencies, \u201ccommon shares in the newly reorganized company,\u201d and funds from any proceedings with Three Arrows Capital (3AC).<\/p>\n<p>\u201cThe plan is subject to change, negotiation with customers, and ultimately a vote [&#8230;] We put together a restructuring plan that would preserve customer assets and provide the best opportunity to maximize value.\u201d said the lending firm.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/200m-bitget-btc-usdt-protection-fund-hints-at-investor-centric-trend\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; $200M BitGet BTC-USDT protection fund hints at investor-centric trend &#8220; With the ultimate goal to regain investor confidence amid a prolonged bear market, crypto derivatives exchange Bitget launched a $200 million fund to safeguard users\u2019 assets. Bitget joins the growing list of crypto companies, such as Binance, that have taken an investor-centric approach to&#8230;<\/p>\n","protected":false},"author":1,"featured_media":479988,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDgvNzBjZTljMTQtZTNlOS00ZmNkLWI1ZTItZDdjNmZhOTk3ODhmLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,75014,74862,74355,117,73711,5012],"class_list":["post-479987","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-binance","tag-bitcoin","tag-adoption","tag-business","tag-investments","tag-singapore"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/479987","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=479987"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/479987\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/479988"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=479987"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=479987"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=479987"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}