Crypto exchange Bitget has launched a $100 million investment fund, called the EmpowerX Fund, to expand its product offerings and support the growth of the cryptocurrency industry. The fund will focus on strategic investments in exchanges, data analytics providers, and other initiatives. Bitget aims to diversify its product range to meet the needs of its 20 million clients and create an all-in-one trading ecosystem that includes crypto trading, investment opportunities, research and development, and decentralized finance. The company plans to address the evolving landscape of the crypto industry, which includes tightening regulations, the rapid growth of Layer 2 and DeFi technologies, and potential mergers and acquisitions. Bitget has allocated $100 million for the fund, but the amount may increase based on market conditions and business strategy. In addition, Bitget has partnered with cryptocurrency tax tool providers to help users navigate the complexities of tax reporting. The integration of Koinly’s tax reporting platform into Bitget’s API will enable users to generate accurate tax reports by synchronizing their historical cryptocurrency transactions. The upgrade was developed based on feedback from the Bitget community and aims to simplify and expedite the tax calculation process. Bitget’s commitment to enhancing user experience and incorporating community insights highlights its dedication to providing intuitive tools and fostering a secure and efficient financial future. The partnership between Bitget and Koinly reflects their shared goal of supporting the crypto community and helping users comply with tax regulations.
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