Crypto derivatives and copy trading exchange Bitget unveiled on Wednesday its ambitious Bitget EmpowerX Fund, which has a capital base of $100 million and aims to propel the platform's ecosystem development.

The primary focus will be on investing in regional exchanges, data analytics firms, media entities and other contributors that can amplify the growth of Bitget's ecosystem.

In light of these significant advancements in the crypto space, industry enthusiasts are keenly looking forward to Benzinga's Future of Digital Assets conference on Nov. 14. The event promises to shed light on such transformative initiatives and their potential impact on the digital asset landscape.

Gracy Chen, the managing director of Bitget, remarked on the launch, stating, “Our vision goes beyond the present. With the Bitget EmpowerX Fund, we aim to develop Bitget into a comprehensive platform for all needs. We also want to empower others in our industry, as a rising tide lifts all boats.”

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Earlier in April 2023, the company launched the $100 million Web3 Fund, targeting VCs and projects worldwide with a special emphasis on Asia-based partners.

Some notable investments from this fund include Foresight Ventures, Dragonfly Capital and Gitcoin Fund, among others.

In its pursuit of decentralized strategies, Bitget invested $30 million in the decentralized BitKeep multi-chain wallet in March.

This wallet was subsequently rebranded as the Bitget Wallet, positioning Bitget as a stakeholder in the decentralized arena.

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