Nov. 14, 2022 — Leading global cryptocurrency exchange Bitget has announced that it has set aside $5 million for a Builders’ Fund that aims to help those affiliates, influencers and professional traders distressed by the FTX collapse.

The market witnessed the collapse of FTX within a week, and worse still, the exchange announced that its wallet was hacked after filing for bankruptcy protection in the United States. The remaining funds in the company have been wiped out completely. No one is a winner in this chaos, as it continues to harm the whole industry.

Due to its wide range of business offerings, the decline of FTX has inevitably had a huge impact on the entire Web3 industry, and users of the platform are the most affected by this crisis. FTX’s previous glory is also attributed to the excellent talents and contributors on the platform, including influencers, affiliates and professional traders; however, they have been impacted significantly in the chaos, with a huge amount of their assets locked on the platform.

As a leading and reliable cryptocurrency exchange, Bitget always strives to build a healthy environment for builders to develop a better version of the crypto world. In line with this vision, Bitget has set aside $5 million for a Builders’ Fund to support affiliates, influencers and professional traders who have suffered from the FTX incident. Those affiliates can apply for financial aid from the Builders’ Fund with the required credentials. For more details on the application criteria and related terms and conditions, please refer to Bitget’s announcement.

As Gracy Chen, managing director of Bitget, also shared on Twitter earlier:

“We have prepared a $5 million ‘Builders’ Fund’ to help those innocent victims with various assistance. Moreover, we would like to take this initiative to deliver a message to the fearful market: Bitget and many other active builders are still working hard to cultivate the crypto world. During this dark time, we should join forces, help each other, and wait for dawn.”

About Bitget

Bitget, established in 2018, is among the world’s top five leading cryptocurrency exchanges, with innovative products and social trading services as its key features. It currently serves over 8 million users in more than 100 countries around the world.

The exchange is committed to providing one-stop and secure trading solutions to users and aims to increase crypto adoption by collaborating with creditable partners, including legendary Argentine footballer Lionel Messi, leading Italian football team Juventus, PGL Major’s official esports crypto partner and leading esports organization Team Spirit.

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