Bitget Protection Fund Surpasses Record High Amid Bitcoin Price Surge

Bitget's Protection Fund reached a record high of USD $441.5 million in August, exceeding its original commitment of USD $300 million.

The fund averaged around USD $382 million throughout the month and was backed by 5,500 BTC, which remained above the minimum requirement throughout August.

The value of the fund fluctuated during the month, reaching a low of USD $345.3 million at the start of the month but rising as bitcoin's price increased in the second half of the month, ending at around USD $432 million.

Gracy Chen, CEO at Bitget, emphasized the importance of maintaining strong safeguards even in stronger market conditions, stating that user protection and transparency must scale with the platform's expansion across asset classes.