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Bitget Exec Shuts Down Insolvency Rumors, Says Funds Are ‘Safe’

2 Mins read

Amidst swirling anxieties in the cryptocurrency space, particularly concerning Bitcoin ETFs and exchange stability, Bitget, a prominent web 3 and cryptocurrency exchange, has stepped forward to categorically deny rumors of insolvency and the alleged disappearance of key executives.

Related Reading: Bitcoin ETF: Navigating The Promise And Pitfalls Of Mainstream Adoption

Bitget Exec Addresses Community Concerns

Gracy Chen, Bitget’s managing director, took to X, a social media platform popular in the crypto community, to address these concerns head-on, offering a message of reassurance and highlighting the company’s recent growth trajectory.

Chen’s statement came in response to a flurry of unsettling claims on X, fueled by an influential user known as MMCrypto.

Citing information from various sources, MMCrypto raised concerns about the crypto exchange’s financial health and encouraged users to consider withdrawing their funds, emphasizing his intention to avoid spreading fear, uncertainty, and doubt (FUD).

However, Chen’s swift rebuttal painted a contrasting picture. “Everything at Bitget is working well,” she asserted, adding that “funds are safe, and the whole team is diligently preparing for the next bull run.”

Further bolstering this stance, Chen pointed to the crypto platform’s recent expansion, highlighting the opening of over 100 new positions, including crucial senior and management roles.

This recruitment drive, she suggested, reflects the company’s confidence in its future and readiness to capitalize on potential market surges linked to Bitcoin ETF approvals.

In a bid to foster a positive outlook, Chen concluded her statement with a resounding call for “BUIDL,” a popular crypto community mantra advocating for long-term building and development over succumbing to fleeting anxieties.

Bitget (BGB) currently trading at $0.61695 on the daily chart: TradingView.com

Bitget Affirms Stability Amid Community Rumors

This sentiment echoes the “FUD less, BUIDL more” philosophy previously championed by Binance’s former CEO, CZ.

Bitget’s official stance was further corroborated by Karina Krupenchenkova, a company representative, who confirmed Chen’s statement as the company’s definitive position on the rumors.

While Chen’s words offer a calming perspective, it’s crucial to acknowledge that the situation remains shrouded in some uncertainty.

MMcrypto, while expressing relief after Chen’s statement, reiterated the need for further clarification from Bitget employees.


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