BitGet launches $200mm BTC-USDT protection fund

Crypto derivatives exchange Bitget has launched a $200 million fund to safeguard users’ assets.

The fund is aimed at regaining investor confidence amid a biting bear market.

Bitget joins a list of crypto companies to have launched protection funds.

The Bitget Protection Fund comprises 6,000 Bitcoin (BTC) and 80 million Tether (USDT).

Bitget self-funded the entire protection fund without relying on a third-party insurance policy.