Dragonfly Makes $10 Million Strategic Investment in Bitget
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."