“I’m extremely honored to step into the role of CEO at Bitget. Over the past six years, we’ve built a robust foundation and an incredible team. Bitget has transformed into a leading crypto platform, consistently innovating to create value for our 25 million users. I’m excited to lead our global expansion to new heights.”
Bitget has appointed Gracy Chen as the new Chief Executive Officer (CEO) of the leading crypto exchange founded in 2018 and known for its copy trading feature.
Succeeding Sandra Lou, who will be leaving to pursue her own business ventures, Gracy Chen brings over 10 years of experience in business management, marketing, and investment.
A prominent female entrepreneur in the crypto industry, Chen’s journey into the world of blockchain began in 2014 as a TV host, where interviews with industry experts like Tim Draper sparked her interest in cryptocurrencies. This fascination led her to invest in several crypto startups, including Bitkeep (now Bitget Wallet), Asia’s largest Web 3 multi-chain wallet.
Bitget quadrupled user base since Gracy Chen joined
In June 2022, Chen joined Bitget as its first Managing Director, steering the platform’s global expansion. Her leadership contributed to quadrupling Bitget’s user base through strategic partnerships, including collaborations with football legend Leo Messi and a robust global affiliate network. These efforts solidified Bitget’s status as a top-five crypto exchange and Web 3 platform.
Gracy Chen, CEO of Bitget, said: “I’m extremely honored to step into the role of CEO at Bitget. Over the past six years, we’ve built a robust foundation and an incredible team. Bitget has transformed into a leading crypto platform, consistently innovating to create value for our 25 million users. I’m excited to lead our global expansion to new heights.”
Beyond her role at Bitget, Chen contributes to the cryptocurrency field as a columnist for major publications like Forbes and Cointelegraph, where she has published over 50 articles. She is also a judge on the crypto reality TV show Killer Whales. Her efforts earned her recognition as a Global Shaper by the World Economic Forum in 2015, and she was elected to the Forbes Business Council in 2023.
Throughout the years, Bitget expanded to more than 100 countries and its product offering now includes Bitget Wallet and a range of Web 3 solutions such as wallet functionality, swap, NFT marketplace, and DApp browser.
Custodial accounts are up
Amid a 250% increase in custodial assets ahead of Bitcoin ETFs in the United States, Bitget research found a nearly twofold increase in custodial accounts since November 2023, with 43% of these accounts being used by short-term interest holders for repeated deposits. Additionally, 77% of all custodial accounts are engaged in short-term financial strategies.
The surge in the use of custodial accounts is attributed to several factors, including the overall performance of the crypto market, heightened expectations of a bull run, and the integration of cryptocurrencies into daily transactions. Macroeconomic uncertainties and geopolitical tensions have also driven individuals towards cryptocurrencies as a means to protect their finances.
The study further revealed that short-term storage remains the primary reason for users to opt for custodial wallets, with these users showing heightened activity levels and typically maintaining balances over $100,000 for periods shorter than three months.
