Bitget released the protection fund report, the average size in July was 359.6 million US dollars

Odaily Planet Daily News Bitget released the July protection fund valuation report. According to the report, the highest size of the protection fund in July was US$368.4 million (July 14), the lowest size was US$353.7 million (July 25), and the average size was US$359.6 million. In addition, the scale of the protection fund has been maintained at more than 300 million US dollars since November last year. Bitget’s Protection Fund was launched in August 2022 with an initial size of $200 million, designed to protect users’ assets in event of force majeure, hacking or extreme market conditions. In November 2022, Bitget will increase the size of the fund to over US$300 million, covering a portfolio of highly liquid cryptocurrencies including BTC, USDT and USDC. And Bitget promised to maintain the value of the fund at more than 300 million US dollars in the next three years. Gracy Chen, managing director of Bitget, emphasized the critical role of trust and transparency in the company's operations. She said, "We firmly believe that maintaining transparency and integrity helps to gain user trust and is conducive to the development of the encryption industry. Regularly publishing the latest data of the protection fund and providing verifiable results reflects our commitment to users. Bitget has always firmly maintained integrity. guidelines, committed to setting a high standard of transparency for the entire crypto space.”