Dragonfly Makes $10 Million Strategic Investment in Bitget

SAN FRANCISCO, April 5, 2023 /CNW/ - Dragonfly, a global crypto-focused venture capital firm, announced today that it has made a $10 million strategic investment in Bitget, a global crypto derivatives and copy trading platform. The investment will support Bitget's ongoing global market and service range expansion, as well as its coming CSR initiatives aimed at increasing crypto education and adoption.

Lately, Bitget has achieved significant growth in terms of transaction volume, user base, and product lineups. The exchange started as a derivatives-focused platform, and it is ranked as one of the top 3 crypto derivative exchanges, according to a Boston Consulting Group (BCG) report published in July 2022. As the first major crypto exchange to introduce copy trading features, Bitget is now the world's largest crypto copy trading platform, with over 80,000 traders sharing their strategies and more than 380,000 followers copying them as of this February. In 2023, Bitget is doubling down its efforts on spot trading, launchpad, and earning products, extending its ecosystem to transform into a one-stop crypto investment platform.

With this latest investment, Bitget will continue expanding its product offerings, as well as its global initiatives to inspire more individuals to embrace crypto. In the past two years, Bitget has established partnerships with legendary Argentinian footballer Lionel Messi, and the leading Italian football team Juventus. The platform plans to launch more educational campaigns to drive crypto mass adoption through entertainment.

Gracy Chen, Managing Director of Bitget, added, "Dragonfly is a highly respected investor in the crypto industry, and we are honored to have them on board. As the fastest-growing exchange in the past 12 months, this investment is a recognition of our focus on BUIDL in the bear run. Except for the cash inflow, what will benefit us more from the Dragonfly partnership is their crypto savvy and insights. Together, we will be able to discover more growth opportunities and contribute more to the sustainable growth of our industry."

About Dragonfly:

Dragonfly is a global, crypto-focused investment firm that partners with crypto founders in all stages of development, from seed to series D. With a global team of over 40 professionals, Dragonfly focuses on working closely with founders to solve their most pertinent problems on tech, product and go to market. For more information, please visit dragonfly.xyz.

Funds managed by Dragonfly and its subsidiaries are only available to accredited investors. The foregoing is for informational purposes only and is not investment advice or an offer to purchase or sell any security, and should not be used as the basis for any investment decision.

About Bitget:

Established in 2018, Bitget is the world's leading cryptocurrency exchange with futures trading and copy trading services as its key features. Serving over 8 million users in more than 100 countries and regions, the exchange is committed to helping users trade smarter by providing a secure, one-stop trading solution. It also inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi, the leading Italian football team Juventus, and official eSports events organizer PGL. According to Coingecko, Bitget is currently a top 5 futures trading platform and a top 10 spot trading platform.

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SOURCE Dragonfly

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