Bitget Denies Insolvency and Departure of Executives
Bitget’s managing director, Gracy Chen, has denied rumors of the exchange’s insolvency and the departure of key executives. On Jan. 10, there were claims that senior Bitget executives had disappeared and that the exchange was facing financial stability issues. In response to these rumors, Chen categorically denied the claims and reassured users that everything is working well at Bitget. She emphasized that funds are safe and the team is preparing for the next bull run. Chen’s statement aimed to alleviate concerns and maintain confidence in the exchange’s solvency.
Bitget’s Growth and Hiring Efforts
Chen also highlighted Bitget’s recent growth and its plans to expand its human resources. The company currently has over 100 open positions, including senior and management roles. This hiring spree indicates Bitget’s readiness to take advantage of the potential market upswing following the approval of Bitcoin ETFs.
Positive Outlook and Focus on Building
In her concluding remarks, Chen encouraged a positive outlook in the face of market fears. She emphasized the importance of building (BUIDL) rather than succumbing to FUD (fear, uncertainty, and doubt). Bitget representative Karina Krupenchenkova confirmed Chen’s statement, further reinforcing the exchange’s stability.
Rumors Dispelled After Chen’s Statement
The rumors about Bitget’s insolvency and executive departures gained traction after X user @MMCrypto expressed concerns based on information from various sources. However, these worries were alleviated after Chen’s post debunked the rumors and provided reassurance about Bitget’s financial stability.
Proof-of-Reserves Report Released by Bitget
On Jan. 10, Bitget released its latest proof-of-reserves (PoR) report, demonstrating a reserve ratio of 175%. The report showed that as of Jan. 8, Bitget’s total reserves exceeded $1.8 billion, including significant holdings of cryptocurrencies like Bitcoin, Ethereum, USDT, and USDC.
Hot Take: Bitget Maintains Financial Stability Amidst Rumors
Bitget’s managing director, Gracy Chen, has strongly refuted rumors of the exchange’s insolvency and the departure of key executives. With a focus on building and a positive outlook, Bitget aims to reassure users and the crypto community about its financial stability. Additionally, Bitget’s recent growth and hiring efforts reflect its readiness to capitalize on potential market upswings related to Bitcoin ETFs. The release of the proof-of-reserves report further solidifies Bitget’s commitment to transparency and showcases its strong reserve ratio. Despite initial concerns, Chen’s statement and the proof-of-reserves report should help alleviate any doubts about Bitget’s solvency.
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