Crypto exchange Bitget reported a notable $700 million capital inflow and a surge in website traffic during the second quarter of 2024.
The company experienced a 50% increase in traffic compared to the previous quarter, attracting 10 million monthly visitors in Q2.
Additionally, Bitget saw 2.9 million new users and a 10% rise in its spot trading market volume from Q1.
Bitget also reported significant growth in its funds.
The company noted that its Bitcoin (BTC), USDT, and Ether (ETH) holdings surged by at least 70%.
BTC holdings grew by 73%, while USDT and ETH holdings saw increases of 80% and 153%, respectively.
This translates to approximately $700 million in capital inflow, according to Bitget.
In Q2 2024, Bitget formed partnerships with three Turkish national athletes: wrestler Buse Tosun Çavuşoğlu, boxer Samet Gümüş, and volleyball player İlkin Aydın.
This initiative is part of a broader campaign featuring football legend Lionel Messi.
Bitget CEO Gracy Chen expressed gratitude for the community’s support, emphasizing the company’s commitment to Web3’s future. Chen stated:
“Q2 2024 has been a pivotal period for Bitget. Our collaboration with Turkish athletes along with significant growth in users and website traffic is a part of our global expansion.”
In collaboration with Singapore-based investment firm Foresight Ventures, Bitget launched a $20 million ecosystem fund in Q2.
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This fund aims to support early-stage projects on The Open Network (TON) and foster the development of the TON ecosystem.
The exchange also emphasized its proof-of-reserves (PoR) report, which shows ratios above 100% for all major assets.
Bitget reported holding more than 100% of cryptocurrencies compared to user funds, enhancing trust and security.
Furthermore, Bitget’s protection fund is valued at over $420 million, providing additional security for its users.
To combat the rising threat of deepfake scams, Bitget partnered with Know Your Customer (KYC) verification provider Sumsub.
This collaboration aims to prevent deepfake scammers from completing the KYC verification process on the exchange.
On June 27, Bitget researchers warned that losses from deepfake attacks within the crypto space could reach $25 billion in 2024.
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