Crypto Exchange Bitget Starts $100M Asia-Focused Web3 Fund
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Seychelles-based crypto alternate Bitget has began a $100 million fund concentrating on Web3 startups as Asian international locations construct a framework for creating Web3.
East Asian international locations have been making strides to advertise crypto in the previous couple of months, with Hong Kong seemingly easing its crypto rules and Japan approving a white paper for Web3 growth final week.
“Regardless of the bear run, Bitget has at all times been supporting promising and revolutionary initiatives and the event of the Web3 setting with a concentrate on BUIDL. The launch of Bitget Web3 Fund is a continuation of our ongoing efforts to drive the adoption of crypto and Web3, reflecting our ‘Go beyond derivative’ technique in 2023,” Gracy Chen, managing director of Bitget, stated to CoinDesk in an announcement.
A spokeswoman for Bitget stated that the fund is self-funded. “Bitget is debt-free with adequate cash flow, thanks to its steady development and fast-growing business,” she stated.
The launch of this fund comes after Bitget invested $30 million into decentralized multi-chain pockets BitKeep.
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