VICTORIA, Seychelles, Nov. 7, 2023 /PRNewswire/ — Bitget, top crypto derivatives and copy trading platform, has released its Protection Fund Valuation Report for October 2023. The fund’s value averaged 357 million for the month, with a peak value of 388 million, thanks to the recent surge in market movements.
Bitget’s Protection Fund stands as one of the largest self-insured funds in crypto. Launched in August 2022, the fund serves as an initiative to provide users with an additional layer of protection as it safeguards crypto assets against hacks, scams, and extreme market conditions. The Protection Fund constitutes a robust financial shield intended to protect the financial interests of Bitget’s users.
The Protection Fund is entirely self-funded, affording a high degree of operational flexibility and autonomy. This approach enables swift and efficient asset coverage without external red tape or the need for policy adjustments. To further increase its stability and liquidity against external factors, the fund encompasses a diversified…
