Gracy Open Letter: Three Stories of Bitget's "Counter-Trend Growth"

A few weeks ago, I was sitting on the balcony of a hotel in Japan, gazing at Mount Fuji while on a call with one of the founders of Bitget. He mentioned a type of person that he found somewhat annoying, and what he said made me smile, thinking to myself, "No wonder it's Bitget; I love the work culture here!"

He told me that the other party was trying to flatter him, but he felt they didn't understand one thing: "One should focus on results and goals, not be overly concerned about others' opinions. Life doesn't have that many spectators; truly outstanding people are often met with both praise and criticism, and nice people are essentially of little use."

This year, Bitget turns six! This is my third birthday with Bitget, but my first as CEO. I'm very happy to celebrate with this excellent team, and I have always believed that what allows us to stand out in the industry is our spirit of focusing on results and goals.

From Managing Director to CEO, I have witnessed Bitget's continuous growth against the odds. In our internal meetings, we often joke that "Bitget has never enjoyed the industry's dividends." We missed the 2017 ICO boom, the 2021 DeFi Summer, and the 2023 inscription explosion.

But it turns out that these are not important. What truly matters is our persistence, hard work, strategic vision, and continuous innovation. It is these qualities that have propelled Bitget to become one of the top four cryptocurrency exchanges in terms of trading volume, with over 45 million users.

I have a deep emotional connection with Bitget. As a mother of a six-year-old, I often feel that watching Bitget grow is similar to watching my own son grow. When I first joined the company, Bitget had been established for over three years, and in the past two and a half years, our entire team has worked together to promote the company's globalization. During this time, our user base, trading volume, and overall strength have significantly improved. Now, we have entered the ranks of leading exchanges. I believe that apart from the founding team, no one cares more about Bitget's development than I do, and I am excited and proud to lead Bitget into a new chapter.

Speaking of the Bitget team, I not only admire everyone's professional skills (we are very fortunate to have such a talented group, and we consider talent density as the foundation of corporate innovation), but I also respect their spirit of continuous self-improvement and relentless pursuit of progress. We grant everyone a high degree of freedom because everyone knows that "more freedom means greater responsibility." Our corporate culture attracts and nurtures those who share our values. They focus on results, are self-driven, and are willing to innovate. Good decision-making and management are not about top-down control, but about self-drive, based on the experience and wisdom of every "frontline warrior." It is this attitude that has driven Bitget's rapid growth.

Our achievements are inseparable from the 1,500 Bitget team members, so on this special sixth anniversary, I want to share some of their stories.

Story One: The $50,000 Found Again

One day, Arman received an urgent email at work.

Arman was once a star customer service representative at a leading exchange. In 2023, attracted by Bitget's corporate culture, he joined our customer service team. Customer service work is not just about solving small problems; it also involves handling some tricky big issues. That day, a user emailed, claiming, "My $50,000 is missing!" Arman immediately took on the challenge.

After understanding the situation, Arman found that this user had been investing in cryptocurrency for less than three months and had recently deposited some ETH, but the funds had not arrived after 12 hours. He checked the blockchain explorer and found that the gas fees were low and the network was not congested. So, he contacted the technical team to query using the UID. It turned out that the user had selected the wrong blockchain network during the deposit, which caused the funds not to arrive. After confirming the safety of the funds, he immediately helped the user initiate a refund request, successfully retrieving the $50,000, which relieved the user.

Arman is one of Bitget's 170 customer service representatives. In 2024, this team responded to 1.5 million customer service requests, with an average response time of only 2.5 minutes. In the face of various asset loss incidents caused by selecting the wrong chain, this year we have helped users recover nearly $1 million in virtual assets.

Story Two: A Product Solution Without Referencing Competitors' Products

Jiren sat in the meeting room, feeling a bit uneasy ------ this meeting was a bit different from what he had imagined.

As a product expert, Jiren had previously started businesses in advertising and gaming, and had served as a product director at a well-known e-commerce company. As more and more of his friends entered the Web3 space, he also became interested in the crypto world. At the end of 2022, Jiren became a product manager at Bitget through a referral.

The first project after taking office was to revamp a product that had been launched two years ago. Based on his past experience, Jiren decided to start with research. Within a week, he communicated with 12 relevant personnel, from internal colleagues to product operations, and then to retail and institutional users. Armed with the user pain points he discovered, Jiren confidently appeared at the discussion meeting for the revamp plan.

However, things did not go as smoothly as he had imagined. Before he could elaborate, another product colleague suggested, "Our competitors already have mature solutions; following their lead would be safer."

Jiren disagreed with this view and firmly responded, "I have already talked to their users, and based on the research results, the competitors' solutions do not fully meet the users' needs."

With detailed data and real feedback, Jiren ultimately convinced the team: "Simply following will not allow us to surpass our competitors."

Based on Jiren's proposal, the final product launched did not merely pursue aesthetic appeal but was designed to enhance user experience and efficiency based on user habits and intuitions. After the product was launched, user growth exceeded 50% within just three months.

Creating safe, efficient, and intelligent products is Bitget's brand mission. In 2024, we launched innovative products such as AI trading bots that combine AI with strategies, pre-market investments in quality assets, and PoolX for 24/7 new coin mining, providing more profit opportunities for explorers in the crypto jungle.

Story Three: The Expert in Resolving Network Congestion

Zoie’s eyes lit up; this new feature that no one had noticed might be the key to breaking the deadlock.

As a technical expert at Bitget Wallet, Zoie focuses particularly on applications and experiences within the Solana ecosystem. In 2023, during the Meme coin craze, she began to notice that users were continuously reporting the same issue. Bitget Wallet users complained about slow transfer speeds on the Solana network, with increasing failure rates, especially during the concentrated explosion of Solana Memecoins.

Zoie decided to investigate further. She discovered that Solana had recently introduced a new feature called Priority Fees, where validating nodes prioritize processing based on transaction fees, while most non-custodial wallets had yet to support this feature. She quickly implemented this feature and optimized the dynamic transaction fee adjustment mechanism, helping users complete transactions faster during network congestion. Although the average gas fee slightly increased, the success rate of Solana chain transactions for Bitget Wallet users rose from less than 50% to nearly 90%.

Whenever a new emerging public chain appears, Bitget Wallet is always at the forefront, providing comprehensive ecological support. Step by step, we now support over 100 public chains. In July of this year, Bitget Wallet's monthly downloads surpassed MetaMask for the first time and topped app stores in countries like Nigeria due to its rapid support for public chains like TON.

These small stories from a few employees are actually reflections of Bitget's growth process. We always put users first, building products around user needs while actively embracing the new wave of Web3.

Although we have achieved certain results over the past six years, compared to the world's top companies, Bitget is still a startup, and like the crypto industry, we have a long way to go. Whenever faced with challenges, I always think of the quote from "Steve Jobs: A Biography," "I want to put a dent in the universe," which reminds me that life is ordinary, but it is the pursuit of dreams that makes it extraordinary.

Who are we, where do we come from, and where are we going? With the guidance of dreams, we are no longer confused or lost. Think Big, Think Long; we will continue to create history and change the world together with the crypto industry.

Six years is just the beginning; our journey is far from over. We will continue to face new challenges and look forward to meeting you at the next peak!

Best regards,

Gracy Chen, Bitget CEO