Bitget’s managing director, Gracy Chen, commented on an X submit that mentioned the insolvency of the change and the alleged disappearance of its key officers.
Within the wake of widespread rumors questioning the monetary stability of Bitget, a cryptocurrency change and an online 3, the corporate’s managing director, Gracy Chen, has come ahead to disclaim these claims categorically.
Ready for the excellent news about #BitcoinETF, then FUD comes once more? 😂
All the pieces at #Bitget is working properly. Funds are secure and the entire group is working onerous to arrange for the following bull run. Because of our current development, we now have over 100+ positions open, together with some…
— Gracy Chen @Bitget (@GracyBitget) January 10, 2024
Amidst a market rife with uncertainty and hypothesis, notably regarding the way forward for Bitcoin ETFs, Chen’s assertion affords a reassuring message to Bitget’s customers and the broader crypto neighborhood.
“All the pieces at Bitget is working properly. Funds are secure, and the entire group is diligently making ready for the following bull run,”
Chen said, addressing the issues head-on.
Chen’s remark additionally highlights the corporate’s current development trajectory.
“Because of our current development, we now have over 100+ positions open, together with some senior and administration roles.”
Bitget’s managing director Gracy Chen
The decision for brand spanking new hires, particularly for senior and administration roles, could mirror Bitget’s readiness to capitalize on the following market upswing associated to Bitcoin ETF approval.
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In concluding remarks, Chen inspired a optimistic outlook and a deal with constructing (BUIDL) moderately than succumbing to market fears. “FUD much less, BUIDL extra,” she asserted, echoing former Binance’s CEO CZ’s statements.
In a remark to crypto.information, Bitget consultant Karina Krupenchenkova confirmed that Chen’s assertion is an official place of the corporate concerning the rumors.
Bitget insolvency rumors
On Jan. 10, a number of customers on X claimed that senior Bitget executives had allegedly disappeared. The person known as MMCrypto, recognized for beforehand selling Bitget, summarized the a number of posts in a single assertion.
As I did promote Bitget prior to now I really feel it’s my accountability to share the latest data I received from totally different sources.
Please perceive that I don’t wish to make FUD and that nothing is confirmed. I nonetheless suppose that it could be sensible to withdraw your funds, if… pic.twitter.com/4N2G2nFvJB
— MMCrypto (@MMCrypto) January 10, 2024
He expressed issues in regards to the change primarily based on data from numerous sources. Emphasizing that his intention is to not unfold worry, uncertainty, and doubt (FUD), MMcrypto steered that customers who really feel uneasy would possibly think about withdrawing their funds because of the unconfirmed proof at hand.
MMcrypto additionally said that he’ll stop selling Bitget till the scenario is resolved and has determined to distance himself from the change till extra data is out there.
Nonetheless, later, MMcrypro cited Chen’s submit and said it calmed him down. He additionally invited any Bitget worker to succeed in out for clarification, indicating a willingness to rethink their stance if the scenario is satisfactorily defined.
Bitget releases proof-of-reserves
Earlier on Jan. 10, Bitget launched its newest proof-of-reserves (PoR) report, showcasing a reserve ratio of 175%. As of Jan. 8, Bitget’s whole reserves exceeded $1.8 billion, together with cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), USDT, and USDC.
Learn extra: Bitget reaffirms reserve power with newest PoR ratio of 175%