Bitget recently announced its new $100 million fund, called Empower X, at its 5th anniversary summit in Singapore. This fund is dedicated to investing in media organisations, data analytics firms, and regional exchanges, with the goal of diversifying its business.
Managing Director Gracy Chen stated: “Through strategic, targeted investments that foster long-term growth, we aim to expand our ecosystem of services to better serve evolving needs of users.”
In March, Bitget had already earmarked $100 million to invest in Asia-focused Web3 startups. With the new fund, they are expressing their commitment to global expansion. Chen also noted in a press release: “CEX landscape is evolving … and more investment, merger and acquisition will happen in the following months. Our vision goes beyond the present.”
The company has also made other investments this year. In March, they spent $30 million to secure a controlling stake in BitKeep, rebranding the decentralised multichain wallet as Bitget Wallet.
Recently, TokenInsight named Bitget one of the top four centralised exchanges. Additionally, the crypto exchange reported a 1.8% increase in its market share in the second quarter of this year to 8.7%, and successfully registered in Lithuania.