Bitget announced the protection fund data, with an average size of 357.2 million USD in October

ChainCatcher news, Bitget announced the latest data on the protection fund for October. The data shows that the highest scale of the protection fund in October was $388.5 million (October 29), the lowest scale was $337.9 million (October 12), and the average scale was $357.2 million. The protection fund scale has consistently remained above $330 million in October. These assets are stored in public addresses, allowing users to track and verify them in real time.

Bitget's protection fund was launched in August 2022, with an initial scale of $200 million, aimed at protecting users' assets in the event of force majeure, hacking attacks, or extreme market conditions. In November 2022, Bitget increased the fund's scale to over $300 million, and Bitget has committed to maintaining the fund's value above $300 million for the next three years.