Bitgetโs managing director, Gracy Chen, commented on an X post that discussed the insolvency of the exchange and the alleged disappearance of its key officials.
In the wake of widespread rumors questioning the financial stability of Bitget, a cryptocurrency exchange and a web 3, the companyโs managing director, Gracy Chen, has come forward to deny these claims categorically.
Amidst a market rife with uncertainty and speculation, particularly concerning the future of Bitcoin ETFs, Chenโs statement offers a reassuring message to Bitgetโs users and the broader crypto community.
โEverything at Bitget is working well. Funds are safe, and the whole team is diligently preparing for the next bull run,โ
Chen stated, addressing the concerns head-on.
Chenโs comment also highlights the companyโs recent growth trajectory.
โThanks to our recent growth, we now have over 100+ positions open, including some senior and management roles.โ
Bitgetโs managing director Gracy Chen
The call for new hires, especially for senior and management roles, may reflect Bitgetโs readiness to capitalize on the next market upswing related to Bitcoin ETF approval.
In concluding remarks, Chen encouraged a positive outlook and a focus on building (BUIDL) rather than succumbing to market fears. โFUD less, BUIDL more,โ she asserted, echoing former Binanceโs CEO CZโs statements.
In a comment to crypto.news, Bitget representative Karina Krupenchenkova confirmed that Chenโs statement is an official position of the company regarding the rumors.
Bitget insolvency rumors
On Jan. 10, multiple users on X claimed that senior Bitget executives had allegedly disappeared. The user called MMCrypto, known for previously promoting Bitget, summarized the multiple posts in one statement.
He expressed concerns about the exchange based on information from various sources. Emphasizing that his intention is not to spread fear, uncertainty, and doubt (FUD), MMcrypto suggested that users who feel uneasy might consider withdrawing their funds due to the unconfirmed evidence at hand.
MMcrypto also stated that he will cease promoting Bitget until the situation is resolved and has decided to distance himself from the exchange until more information is available.
However, later, MMcrypro cited Chenโs post and stated it calmed him down. He also invited any Bitget employee to reach out for clarification, indicating a willingness to reconsider their stance if the situation is satisfactorily explained.
Bitget releases proof-of-reserves
Earlier on Jan. 10, Bitget released its latest proof-of-reserves (PoR) report, showcasing a reserve ratio of 175%. As of Jan. 8, Bitgetโs total reserves exceeded $1.8 billion, including cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), USDT, and USDC.
