Bitget CEO Open Letter: A New Journey, Allow Me to Reintroduce Myself and Bitget

I am pleased to embark on a new journey as the CEO of Bitget. I would like to share some of Bitget's current focuses and future plans (it seems like every newly appointed CEO does this?), but first, please allow me to properly introduce myself (maybe not every new CEO does this, but please bear with my lengthy self-introduction).

I grew up in a single-parent family, and my mother's expectations for me were always simple: to grow up happy. Like many Asian parents, she hoped I wouldn't be too assertive; she believed my most important task as I grew up was to find the right partner. However, since I was young, I wanted to be a "leader." Starting from elementary school, I actively sought every opportunity to lead. This was not just because I wanted to manage or direct others, but because I believed that a leader should create more value, take on more responsibility, and bring about greater change. (Not sure if 8-year-old Gracy would agree with this view.)

At 18, I received a full scholarship to pursue my undergraduate degree in Singapore, where I chose to study applied mathematics. After graduation, I became the host of a financial technology program. In 2015, some friends and interviewees from my show told me, "Gracy, you should learn about crypto assets…" At that time, one Bitcoin was worth about $300 (that's right, it recently broke $71,000 again)!

Gracy interviewing Michelle Yeoh (2016)

I started reading the Bitcoin white paper and was immediately captivated. As a math enthusiast, I loved the beauty of the mathematics involved and was thrilled by the idea of a decentralized system. Most importantly, I was attracted to the concept of a decentralized ledger that complements traditional finance.

Although I don't consider myself a "rebel," I have always been uninterested in following the rules; I prefer to set my own! I found that the crypto industry allowed me to be at the forefront of innovation, so I purchased some mainstream crypto assets—Bitcoin, Ethereum, and Ripple (I regret not buying more…)—and subsequently invested in some crypto startups, such as BitKeep, which is now called Bitget Wallet.

During 2015 to 2016, I also met many early investors and builders in the crypto industry, such as Tim Draper, founder of DFJ. I saw many shining qualities in these industry practitioners: they were sharp, visionary, and down-to-earth, and they have now become the backbone of the industry.

Not long after, I left my job at the television station and became a serial entrepreneur, founding two startups in the fintech and virtual reality (VR) industries (how to describe those entrepreneurs who keep failing? Let's call them "serial entrepreneurs," right? Haha, that was me back then…). At the same time, I have always believed in the importance of lifelong learning, so I decided to pursue an MBA at MIT.

In the spring of 2022, a friend told me that Bitget was hiring a Managing Director (MD). Due to my investment in Bitkeep, I was already acquainted with the Bitget team, but joining an exchange was still a careful decision. After communicating with each member of the Bitget management team, I found them to be very professional in their respective fields, with strong execution and ethical standards. I believed this platform had greater potential to be realized. At that time, there were already several mature exchanges in the industry, and this was not a battle that was guaranteed to win, but seeing such a sincere and reliable team, I decided to take on the challenge with everyone.

Gracy on the MIT campus (2022)

Fortunately, with the joint efforts of myself (my contribution was actually the smallest), the management team, and 1,500 Bitget employees, we achieved over four times growth in just two years, with user numbers exceeding 25 million. Bitget has become one of the top 5 contract trading platforms and top 10 spot trading platforms globally. I feel very fortunate to work with the best people in the industry! Everyone works hard without internal strife, united towards greater and stronger goals.

From Managing Director to CEO, I have witnessed Bitget's growth. While everyone may have their own views on "what kind of company Bitget is," I would like to describe Bitget with two words. (Alright, enough joking, let's get serious…)

User First. I firmly believe that users are the starting and ending point of all our actions, which is why I strongly advocate for a user-centered approach. Take the SLERF incident that occurred this March, for example; when they lost user funds due to a mistake, we immediately stepped up and donated SLERF's trading fees so that all users participating in the SLERF presale could recover their assets.

Diversity. Bitget is a collective of 1,500 people from different genders, nationalities, and beliefs. We are here to create change on solid ground and communicate honestly and transparently. When we discover inequalities, we also strive to bridge them. As a single mother (I divorced in 2022), I deeply understand the importance of equal opportunities in the industry and gender diversity, which is why I initiated the #Blockchain4Her initiative, hoping to build a more female-friendly crypto industry.

Gracy with her son (2020)

At the beginning of 2024, I mentioned in an open letter the three main focuses for Bitget throughout the year: 1) Compliance, 2) Emerging Markets, 3) Web 3.

Six months have passed, and we have made good progress in these three areas. For example, in Web 3, our non-custodial Web 3 wallet, Bitget Wallet, has just completed the BWB token airdrop. According to its newly launched product roadmap, Bitget Wallet will position itself as Bitget's Onchain layer, integrating a series of modular DApps through industry collaboration. More exciting developments regarding BWB will be revealed in the coming week.

In addition to these three strategic focuses, we have greater dreams and expectations for Bitget's role in bringing the crypto industry into the mainstream in the future. Therefore, over a longer time horizon, we will focus on:

1. Strengthening Bitget's ecosystem: Beyond centralized exchanges, Bitget is enriching its ecosystem through investments. After launching the Bitget Web3 Fund and EmpowerX Fund last year, enriching the ecosystem through investment will be our long-term strategy.

2. Connecting traditional finance and the crypto industry: With the approval of spot crypto ETFs in major markets like the U.S. and Hong Kong, more institutions and retail users are expected to incorporate cryptocurrencies into their portfolios. We are committed to collaborating with industry partners to promote this trend and lower the barriers to entering the crypto world.

3. Bringing crypto assets into daily life: We launched the Bitget Card at the end of 2023, a crypto asset credit card that can be used anywhere Visa is accepted. This innovation helps make crypto assets a part of daily life, not just investment products. We will develop more services to support this integration.

Gracy at the Bitget EmpowerX Summit in Singapore (2023)

In the long run, the crypto industry is destined to continue thriving. Whether it's Bitcoin's price performance, the influx of more talent, the establishment of more innovative projects, or the increasing integration of traditional finance and public participation, this industry will only become stronger!

We are fortunate to have the best team in the industry, but I believe Bitget's success is even more reliant on our beliefs. We want to be excellent marathon runners, not sprinters. Six years ago, Bitget was founded during the crypto winter; we faced many challenges but never pursued overnight success. Instead, we worked hard to solidify our foundation, adhered to long-termism, and believed that consistent effort would lead to progress. Bitget's growth aligns with our global brand ambassador Messi; it is the similar spirit that has allowed Messi to grow from a young player with less-than-ideal physical conditions to one of the greatest players in football history.

Gracy with Messi (2023)

I am very grateful to walk this journey with each of you. Let’s roll up our sleeves, unleash our imagination, and create more possibilities!

There are more adventures ahead, so let’s keep working hard to BUIDL!

Respectfully,

Gracy Chen, Bitget CEO