In a candid conversation, Bitget’s General Manager Gracy Chen shares insights into the exchange’s bold expansion during market downturns, its strategic vision for 2024, and how it balances speed with responsibility in a rapidly evolving Web3 landscape.
From Media to Web3: Gracy Chen’s Journey
Gracy Chen’s path into the crypto industry began in traditional media. A graduate of Singapore with a degree in applied mathematics, she started her career as a host and producer at Phoenix Finance and Phoenix Television’s tech and finance channel between 2014 and 2015. It was during this time that she was first introduced to cryptocurrency through industry figures like He Yi and Tim Draper.
Their recommendations led her to study the Bitcoin whitepaper and purchase her first BTC and XRP in 2015—marking her entry into blockchain. Over the next several years, she worked across internet, tech, and VR sectors as a co-founder and CMO, building expertise in marketing and innovation. Her transition to Web3 culminated in early 2023 when she joined Bitget, drawn by her early investment in Bitget Keep (now Bitget Wallet). Today, she leads marketing and listing initiatives, demonstrating how cross-industry experience can thrive in decentralized ecosystems.
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Why Expand During a Bear Market?
While many associate Bitget with recent growth, the platform was founded in summer 2018—right before a major bear market. This timing proved formative. "We learned how to build foundations when others pull back," Gracy explains. "Bear markets allow us to acquire talent, invest in assets, and expand operations at lower costs."
This contrarian mindset became especially evident in 2022–2023, when most top exchanges—including Coinbase—were cutting staff. Bitget, however, continued hiring and expanding. “We saw the bear market as a golden window for growth,” she says. The strategy paid off: despite broader market declines, Bitget grew its spot trading volume by 94% in 2023.
Key Achievements and 2024 Strategic Focus
Brand Power Through Global Partnerships
One of Bitget’s standout moves was signing Lionel Messi as a brand ambassador ahead of the 2022 FIFA World Cup. Competing against other major exchanges, Bitget won over Messi by showcasing its deep understanding of football culture, including past collaborations with Juventus. When Messi led Argentina to victory, the timing amplified global visibility—fueling both online engagement and offline brand recognition.
Record Listings and Ecosystem Support
In 2023 alone, Bitget listed 355 new tokens, a 46% increase from the previous year, bringing its total to nearly 600 listed assets. The platform doesn’t chase hype blindly—even amid the inscriptions boom, projects undergo rigorous evaluation based on team strength, liquidity, and long-term potential.
Through Foresight Ventures (where Bitget is a limited partner), over $60 million has been invested across 77+ projects as of Q3 2023. These investments reflect a broader commitment to nurturing early-stage Web3 innovation.
Three Pillars for 2024 Growth
- Compliance First: After FTX’s collapse, regulatory credibility became non-negotiable. Bitget has secured VASP licenses in Poland and Lithuania and is actively pursuing approvals in other jurisdictions. A dedicated legal team ensures alignment with evolving frameworks like Hong Kong’s Type 7 license.
- Emerging Markets Expansion: Latin America and Southeast Asia are key growth zones. By tailoring products and partnerships to local needs, Bitget aims to capture rising adoption in these high-potential regions.
- Web3 Innovation: The launch of decentralized exchange (DEX) features and Layer2 solutions will deepen Bitget’s role beyond centralized trading, positioning it at the intersection of CeFi and DeFi.
The Art of Fast Yet Responsible Listings
Bitget’s listing strategy hinges on agility without compromising quality—what Gracy calls “speed with substance.”
A prime example is the ARB ecosystem rollout. Before Arbitrum’s token launch, Bitget identified growing interest in its DeFi applications like GMX. In response, they launched more than ten ARB-related tokens simultaneously—the so-called “ARB ecosystem bundle”—giving users one-stop access to a booming sector.
The platform also features dedicated zones for MEME coins, inscriptions, and Layer2 projects, enabling rapid onboarding of trending assets like BLUR, ORDI, ZERO, and Silly.
But speed is balanced with scrutiny. Each project undergoes multi-dimensional assessment covering team background, investor pedigree, liquidity depth, and community health. Projects are graded (e.g., SSS to C), guiding listing decisions—from full promotional support for top-tier assets to outright rejection for low-grade ones.
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Foresight Ventures & Listing Synergy: Independent but Informed
While Bitget is an LP in Foresight Ventures, listing decisions remain independent. “Foresight invests based on financial return; we list based on user value,” Gracy clarifies.
However, synergy exists: projects backed by reputable firms—including Shima Capital, Dragonfly, a16z, and Paradigm—are often pre-vetted, serving as strong signals for potential listings. Foresight may refer portfolio companies to Bitget’s listing team, but final approval depends on internal research and grading.
This structure ensures objectivity while leveraging ecosystem intelligence—striking a balance between speed and due diligence.
Navigating Regulatory Shifts: The Binance-DOJ Case
The Binance-DOJ settlement was not unexpected, Gracy notes. “We never operated in the U.S., so the direct impact is limited.” Still, the event reinforced the importance of proactive compliance globally.
Bitget’s approach is strategic: pursue licenses where regulations are clear (e.g., Europe), avoid high-risk jurisdictions (like the U.S.), and engage constructively in developing markets (such as parts of Latin America). Acquiring regulated regional exchanges further strengthens their compliant footprint.
“Our compliance strategy isn’t reactive—it’s a long-term global vision,” she emphasizes.
Chasing Top-Tier Exchange Status in 2024
Becoming a leading exchange isn’t about sprinting—it’s a marathon. Gracy outlines three core pillars:
- More high-quality listings to attract sophisticated traders.
- Product experience refinement for smoother navigation and security.
- Sustainable innovation in Web3-native services like wallets and L2s.
User trust remains central. Features like fund protection plans and transparent risk management ensure users feel safe—not just excited—using the platform.
Evolving Growth: Beyond KOLs to Brand-Led Strategies
While KOL (Key Opinion Leader) partnerships remain important, Bitget is expanding into KOCs (Key Opinion Consumers)—micro-influencers with strong niche communities. A new business line launched in late 2023 focuses specifically on this segment.
Brand-level activations—like the Messi campaign—and organic traffic drivers—such as successful thematic listings—are now equally vital. “We want Bitget itself to be a magnet,” Gracy says. “When users come for ARB or inscriptions, they stay because of trust and experience.”
The Heart of Bitget: Wolf Culture Explained
“Wolf culture” at Bitget isn’t about aggression—it’s about focus, unity, and results.
Four core values define it:
- User First: Every decision starts with user needs.
- Integrity: Zero tolerance for dishonesty, especially in listings or investments.
- Transparent Communication: Open dialogue over hierarchy; problems addressed directly.
- Results-Driven: OKRs guide performance; data informs outcomes.
There’s no internal politics—just alignment toward shared goals. As a challenger brand, Bitget embraces relentless improvement, innovation, and accountability.
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Frequently Asked Questions
Q: Is Bitget available in the United States?
A: No. Due to complex regulatory conditions, Bitget does not offer services to U.S. residents.
Q: How does Bitget ensure the quality of listed tokens?
A: Each project undergoes strict evaluation across multiple criteria—including team credibility, liquidity, investor backing, and long-term viability—before receiving a grade that determines its listing eligibility.
Q: What role does Foresight Ventures play in Bitget’s token listings?
A: While Bitget is an investor in Foresight Ventures, listing decisions are made independently. Foresight-backed projects may receive referrals but still go through Bitget’s full review process.
Q: How did the Messi partnership impact Bitget’s growth?
A: The Messi sponsorship significantly boosted global brand awareness, especially during the 2022 World Cup. It helped drive user acquisition across both emerging and established markets.
Q: What are Bitget’s plans for Web3 development in 2024?
A: Key initiatives include launching DEX functionalities, advancing Layer2 integrations, and expanding support for decentralized wallets—bridging CeFi and DeFi experiences.
Q: Does Bitget have any regulatory licenses?
A: Yes. Bitget holds VASP licenses in Poland and Lithuania and is actively pursuing additional regulatory approvals in other compliant jurisdictions.
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