Bitget burns $130 million BGB tokens
Bitget burns $130M in BGB tokens as part of new quarterly program.
Cryptocurrency exchange and Web3 firm Bitget has completed the burn of 30 million Bitget Tokens (BGB), equivalent to roughly $130 million, as part of its quarterly token burn program.
The move eliminated approximately 2.5% of BGB’s total supply, signaling a continued focus on long-term value creation through deflationary measures, reports Cryptopolitan.
The latest burn is the first under Bitget’s updated mechanism, which earmarks 20% of profits from exchange and wallet operations for quarterly repurchases and token destruction. Over the last six months, Bitget has destroyed 42.5% of BGB’s total supply. This includes 19% from core team holdings and 21% from circulating and reserve allocations.
A maturing token economy strategy
Bitget CEO Gracy Chen described the burn as a “step toward building an ecosystem where value flows more transparently.” She emphasized that BGB is evolving from a utility token for trading fee discounts to a strategic asset central to Bitget’s digital finance infrastructure.
BGB has outperformed all other centralized exchange (CEX) tokens over the past year, bolstered by its expanding role in Bitget’s trading and Web3 ecosystem. In early 2025, Bitget merged its wallet-native Bitget Wallet Token (BWB) with BGB to unify on-chain and off-chain functionality. This integration positioned BGB as a cross-platform bridge, enabling trading, wallet services, and user incentives within a single token economy.
The consolidation has contributed to increased liquidity and use-case flexibility, further strengthening the token’s relevance in Bitget’s roadmap. The company states that these burn events align with broader goals to enhance token utility, encourage community participation, and ensure scalability of its token model.
Bitget’s expanding footprint in Web3 and sports
Founded in 2018, Bitget has grown to serve more than 100 million users across 150+ countries. Alongside its flagship exchange, Bitget Wallet (formerly BitKeep) offers a multi-chain crypto wallet supporting token swaps, NFTs, and DApps.
Bitget has also leaned into sports marketing to boost global visibility. The company holds partnerships with LALIGA and top Turkish athletes, underlining its ambition to link Web3 innovation with mainstream cultural engagement.
Recently we wrote that AB DAO, the decentralized organization behind the AB blockchain (formerly Newton Project), has announced a global incentive campaign in partnership with crypto exchange Bitget, aiming to reward users and boost ecosystem activation.
