Bitget CEO Gracy Chen remains committed to expanding into the U.S. market by 2027, regardless of the stalled CLARITY Act. The legislation, which aimed to clarify crypto regulations, failed to pass last month due to concerns over potential conflicts of interest involving President Donald Trump and other officials. Despite this setback, Chen views the U.S. as a long-term strategic market and plans to launch a local website next year, with a small team already working on licensing.
The exchange is also recovering from a $388 million hack in September, the largest crypto industry breach this year. Chen acknowledges that some users left the platform but emphasizes efforts to rebuild trust, including revoking compromised credentials, collaborating with investigators like Mandiant and SlowMist, and leveraging AI for enhanced cybersecurity. Bitget has also replenished its protection fund to safeguard user assets against future breaches.
Looking beyond the U.S., Bitget is set to enter Thailand through the acquisition of GMO-Z.com Cryptonomics and is exploring other Southeast Asian markets. Chen rules out Singapore and Hong Kong due to high compliance costs but remains open to regions with favorable licensing schemes. Additionally, she hints at a potential IPO within the next five years, citing the importance of timing, location, and the right team.