Bitget Unveils Over $5
Billion Worth of BGB Token
Burn in New Whitepaper
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Bitget , the leading cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта exchange and Web3 company, has released a
new whitepaper for its native token, Bitget Token (BGB).
The update introduces an unprecedented initiative to burn 800 million BGB
tokens—valued at over $5 billion based on current market prices—alongside
plans to expand the token s utility. This move shows Bitget’s commitment
to enforce a deflationary supply model for BGB, accelerating its utility.
The new whitepaper introduces an ambitious token burn plan, starting with the
immediate and permanent burn of 800 million BGB 40% of the total
supply reducing the circulating supply to 1.2 billion. Beginning in
2025, Bitget will initiate quarterly burns by allocating 20% of profits from
Bitget Exchange and Bitget Wallet , including revenues from spot, futures ,
and NFT• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » NFT - невзаимозаменяемый токен transactions, to buy back and burn BGB. All burn activities will be
recorded on-chain, ensuring transparency and accountability to the community.
Bitget recently announced the merger of Bitget Token (BGB) and Bitget Wallet
Token (BWB) . Following this merger, BGB will serve as the unified token for
Bitget’s centralized and decentralized ecosystems. Currently, BGB offers
various benefits to its holders, including fee discounts, VIP privileges, and
access to token farming through Launchpool. Looking ahead, Bitget plans to
expand BGB’s utility within on-chain ecosystems, positioning it as a core
asset for staking, liquidity provision, and airdrop eligibility. Additionally,
BGB will power Bitget Wallet services, such as multi-chain gas fee payments,
while extending its use cases to everyday PayFi scenarios.
In the competitive landscape of crypto exchanges, Bitget has distinguished
itself as the fastest-growing centralized exchange (CEX) in recent years. This
achievement is conquered by a team of 1,600 professionals across 60+
countries, a comprehensive ecosystem encompassing fiat, spot, margin, and
futures trading, and cutting-edge technology ensuring a seamless trading
experience. Bitget further strengthens user confidence with advanced security
measures, including a $600M Protection Fund and a monthly updated
Proof-of-Reserve report. Its proactive compliance strategy, and acquisition of
licenses in multiple jurisdictions, strengthens its position as world’s
leading CEX.
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CEXs are the backbone of crypto s growth towards mass adoption.
Bitget s mission of fuelling the next wave of innovation will unfold in
the coming year, said Gracy Chen, CEO at Bitget . Our decision to burn
$5 billion worth of BGB aligns with our plans of making it a powerful medium
of transacting value. Our next phase will extend BGB s utility on-chain,
integrating it into more Dapps and bringing it to the masses, making BGB
available to all, making PayFi a part of everyday life,” she added.
BGB has shown exceptional performance in 2024, with its market capitalization
increasing by over 1000% in the past year and over 100-fold since its
inception. This impressive growth is backed by a proven track record of the
token’s strong use cases and the success of Bitget’s innovative ecosystem.
The release of the updated BGB whitepaper marks an important moment in
Bitget’s journey. By reducing supply, enhancing utility, and expanding
real-world applications, BGB is bound to strengthen more functionalities and
products in the Bitget ecosystem driving sustainable growth and long-term
value for holders.
To learn more about the new BGB whitepaper, visit this link.
About Bitget
Established in 2018, Bitget is the world s leading cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта
exchange and Web3 company. Serving over 45 million users in 150+ countries and
regions, Bitget is committed to helping users trade smarter with its
pioneering copy trading feature and other trading solutions, while offering
real-time access to Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin price , Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum price , and other cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта
prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain
crypto wallet that offers an array of comprehensive Web3 solutions and
features including wallet functionality, token swap, NFT• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » NFT - невзаимозаменяемый токен Marketplace , DApp
browser, and more.
Bitget is at the forefront of driving crypto adoption through strategic
partnerships, such as its role as the Official Crypto Partner of the
World s Top Football League, LALIGA , in EASTERN, SEA and LATAM market,
as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu
(Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın
(Volleyball national team), to inspire the global community to embrace the
future of cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта.
For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord
| Bitget Wallet
Risk Warning: Digital asset• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » NFT - невзаимозаменяемый токен prices are subject to fluctuation and may
experience significant volatility . Investors are advised to only allocate
funds they can afford to lose. The value of any investment may be impacted,
and there is a possibility that financial objectives may not be met, nor the
principal investment recovered. Independent financial advice should always be
sought, and personal financial experience and standing carefully considered.
Past performance is not a reliable indicator of future results. Bitget accepts
no liability for any potential losses incurred. Nothing contained herein
should be construed as financial advice. For further information, please refer
to our Terms of Use .
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