Dragonfly, a well-known global venture capital firm, has recently invested $10 million in Bitget, an international crypto derivatives and copy trading exchange.
The investment aims to help Bitget expand its range of services and its global market, as well as promote its upcoming CSR initiatives which aim to increase user education and adoption of cryptocurrencies.
Bitget has experienced significant growth in recent times, with increased transaction volumes, an expanding user base, and a wide range of products on offer.
The exchange’s primary focus is on crypto derivatives, and according to a Boston Consulting Group (BCG) report, Bitget is one of the top three derivatives exchanges.
Bitget’s Managing Director, Gracie Chen, expressed gratitude for Dragonfly’s investment, stating that it confirms the company’s commitment to growth even during bear markets.
With Dragonfly’s support, Bitget hopes to uncover new opportunities for growth and contribute to the sustainable growth of the industry.
Bitget was one of the first to introduce copy trading features and is now the largest platform in this field, with over 80,000 traders sharing their strategies and over 380,000 subscribers copying them as of February of this year.
Bitget has ambitious plans to expand its ecosystem and become a one-stop crypto investment platform, including efforts to focus on spot trading, Launchpad, and Earn products.
Bitget plans to launch more educational campaigns to promote the mass adoption of cryptocurrency through entertainment.
Over the past two years, Bitget has partnered with legendary Argentine footballer Lionel Messi and Italian football team Juventus.
Dragonfly is a global cryptocurrency-focused investment company that partners with cryptocurrency founders on all stages of investment, from seed to Series D.
With a global team of over 40 professionals, Dragonfly focuses on working closely with founders to solve their most pressing problems, including technology development, product development, and market entry.