Bitget, a top crypto derivatives and copy trading platform, has released its Protection Fund Valuation Report for August 2023. The fund’s value has consistently exceeded US$300 million since November, with a peak of US$357 million in August. Launched in August 2022, the fund is self-funded and provides a financial shield to protect users’ holdings. To increase its stability and liquidity, Bitget raised the fund’s value to over US$300 million in November 2022.Bitget’s daily tracking of the Protection Fund reveals that its value remained above US$300 million throughout the month of August. The volatility of Bitcoin prices in August made the fund’s book value surge to over US$357 million, with an average value of US$345 million. The value of the Protection Fund is insured against any decline for a resolute three-year period without any withdrawals.Gracy Chen, Bitget’s Managing Director, believes in the power of transparency to build trust. Bitget provides verifiable Proof of Reserves data and unrestricted access to comprehensive fund information, including wallet addresses readily available to the public. The exchange aims to establish an industry gold standard for transparency and trustworthiness.Established in 2018, Bitget is the world’s leading cryptocurrency exchange that offers Copy Trading services as one of its key features. Serving over 20 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. Bitget has collaborated with credible partners, including Lionel Messi and PGL, to inspire individuals to embrace crypto.

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Information	Details
Geography	Global
Countries
Sentiment	neutral
Relevance Score	9
People	Lionel Messi, Gracy Chen
Companies	USDC, PGL, USDT, Lionel Messi, Bitget
Currencies	Ethereum, USD Coin, Bitcoin, Tether
Securities	None