Massive Token Burn Announced
Crypto exchange Bitget revealed plans to burn 40% of its native BGB tokens, equivalent to 800M tokens worth $6.8B. This will significantly reduce the total token supply, bolstering token scarcity and value.Quarterly Burns Begin in 2025
Starting in 2025, Bitget will implement quarterly burns, allocating 20% of its profits from exchange operations and its crypto wallet to repurchasing and burning BGB tokens. This model follows Binance’s well-known burn strategy.Ecosystem Token Unification
The exchange also announced the merger of Bitget Wallet Token (BWB) into BGB, unifying them under a single token for both the centralized exchange and wallet. The total token supply will remain unaffected by this change.Strengthening Long-Term Value
Bitget’s burn initiative aligns with efforts to enhance the token’s utility and increase ecosystem engagement, reinforcing its commitment to sustainable growth.
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