Bitget exchange establishes $100 million fund to support Web3
Bitget exchange establishes $100 million fund to support Web3
Cryptocurrency exchange Bitget announced the launch of the Web3 Fund with an initial capital of $100 million to support the implementation of cryptocurrency projects.
The Web3 festival will be held in Hong Kong from April 12 to 15, and is dedicated to next-generation developments based on decentralized blockchain technology.
According to finance.yahoo, Bitget's Web3 Fund will support projects from various countries, with a focus on Asian projects, especially those developing solutions to network problems.
Bitget said it has already received partnership requests from Foresight Ventures, Dragonfly Capital and DAO Maker.
Gracy Chen, Bitget's Managing Director, said: "We can see that Web3 space is evolving rapidly and many projects deserve the support to further advance such development and make Web3 a truly global phenomenon, as Web2 had once become."
Bitget has become the fifth largest cryptocurrency exchange in the world and continues to expand its presence in the cryptocurrency market. The company says it will increase its staff by 50 percent in the first quarter of 2023.
Since June this year, Hong Kong has made changes to its cryptocurrency exchange licensing rules to clarify the rules and regulations, and 80 international companies intend to participate in the establishment of Web3 in Hong Kong.
