Bitget's Protection Fund Hits Record High Amid Bitcoin Rally

Bitget's Protection Fund reached a new high of $441.5 million on August 27, as Bitcoin prices rallied throughout the second half of the month. The fund maintained an average valuation of $382 million in August, exceeding its original commitment of $300 million.

The monthly low for the fund was $345.3 million on August 1, but it consistently remained above that level due to the appreciation of Bitcoin prices. During the month, Bitcoin's price fluctuated between $62,773 and $80,268, with a significant increase of over 25% from its starting point.

Bitget's CEO, Gracy Chen, emphasized the importance of maintaining strong safeguards in strong markets: 'Strong markets don't reduce the need for strong safeguards.'