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Crypto Exchange Bitget Invests $30M in Digital Wallet BitKeep
The exchange will use BitKeep to improve stability of security of handling multiple assets across different blockchains.
Updated May 9, 2023, 4:11 a.m. Published Mar 22, 2023, 11:55 a.m. 1 min read
Seychelles-based crypto exchange Bitget has become the controlling shareholder in decentralized multi-chain wallet BitKeep with a $30 million investment, according to a press release Tuesday.
Founded in 2018, BitKeep raised $15 million at a $100 million valuation last year in a funding round that was led by Dragonfly Ventures. The press release didn't disclose the valuation at the time of Bitget's investment, and BitKeep didn't immediately respond to a request for comment.
Bitget will use the BitKeep wallet within its exchange to improve stability and security of handling multiple assets across various blockchains.
"The investment deal implies not only financial but also technical support," BitKeep Chief Operating Officer Moka Han said in the release.
Bitget's token (GBG) was up 10% to 41 cents in the past 24 hours, according to CoinMarketCap.
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The inclusion could attract fresh passive inflows from index-tracking funds, while the firm's stock tanked 95% from its peak over the past year.
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- SharpLink will join the Russell 2000 and Russell 3000 indexes effective June 29.
- The company held nearly 873,000 ETH, worth roughly $1.8 billion at current prices.
- The inclusion comes as many digital asset treasury firms have slowed or halted crypto purchases.
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