Cryptocurrency exchange Bitget has published a report on the user Protection Fund for February 2024.
The size of the fund exceeded $461 million, which was the highest monthly average, with the highest level recorded on February 28 at $543 million.
The reserve fund was created to protect the funds of the exchange's clients and underscores Bitget's commitment to guaranteeing users the reliability and security of the platform.
The Bitget Protection Fund provides protection against a variety of risks, including cyberattacks, fraud, and severe market fluctuations. According to Bitget, it is one of the most significant insurance reserves in the crypto industry. The monthly publication of its reserves increases user confidence.
Bitget's Protection Fund provides flexible protection measures that are not limited by external influences. The exchange has the ability to allocate funds from the fund's reserves at any time to protect user assets in the event of security threats or market turmoil.
The fund's self-sustaining policy ensures that client funds are robustly protected, unconstrained by external influences or approvals. This gives Bitget a distinct advantage over other companies in terms of user security.
To increase resilience to external factors, the reserve fund holds highly liquid digital assets such as BTC, USDT, and USDC.
Figures for the fund for February 2024:
- Maximum volume: $543 million (February 28).
- Minimum volume: $413 million (February 4).
- Monthly average: $461 million.
Bitget CEO Gracy Chen said: "Bitget is committed to enhancing the user experience and protecting users' interests through a wide range of products and experiences. We focus on security, and our core differentiator is our unwavering commitment to protecting our users. Our goal is to give users peace of mind while protecting their digital assets."
Bitget continuously provides reserve data so that users can check it at any time, providing additional assurance that their assets are safe.
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