Research Summary
The report features an interview with Gracy Chen, a key figure at Bitget, a cryptocurrency exchange. Chen discusses Bitget’s aggressive strategies during bear markets, the company’s direction for 2024, and the rumored “wolf culture” within the organization.
Key Takeaways
Bitget’s Aggressive Strategy in Bear Markets
- Building in Bear Markets: Chen explains that Bitget’s strategy during bear markets is to build a foundation, acquire assets at low prices, and recruit talent. The company believes that those who stick to the industry even in a bear market are the ones who truly have faith in this field.
- Expansion During Downturns: Bitget chose to expand during the last bear market, contrary to other exchanges that were laying off staff. The company views bear markets as a golden window for growth.
Bitget’s Coin Listing Strategy
- Speed and Quality: Bitget’s coin listing strategy focuses on rapidly responding to market hotspots while ensuring the provision of assets with both quality and potential. The company aims to maintain agility and a leading edge without sacrificing quality and the interests of its users.
- Strict Evaluation System: Bitget has a strict evaluation system for coin listings, considering multiple dimensions such as liquidity, project team, and investor background.
Bitget’s Compliance Strategy
- Global Compliance: Bitget is working on obtaining as many licenses as possible in appropriate regions worldwide. The company is also acquiring some regional exchanges that already hold licenses and incorporating them into its compliance operations.
- Regulatory Environment: For regions where the regulatory environment is unclear or compliance is complex, Bitget chooses not to participate. In areas where regulations are still being formulated or are relatively lagging, the company maintains a wait-and-see attitude.
Bitget’s Future Strategies
- Listing More High-Quality Coins: Bitget plans to list more high-quality coins in 2024. The company believes that choosing the right projects is crucial for attracting and retaining users.
- Focus on WEB3 Field: Bitget is also highly attentive to the developments in the WEB3 field. The company is committed to making significant layouts in areas like decentralized wallets and Layer2 technologies.
Bitget’s “Wolf Culture”
- High Cohesion and Execution: Bitget’s team has extremely high cohesion and execution. The company lacks a noticeable faction culture, with team members closely cooperating and moving together towards a clear goal.
- Core Values: Bitget emphasizes four core values: customer first, integrity and honesty, open and honest communication, and delivering results. These values collectively shape Bitget’s corporate culture and way of working.
Actionable Insights
- Understanding Bitget’s Strategy: Investors and market participants can gain insights into Bitget’s aggressive strategy during bear markets. This could provide a different perspective on how to navigate and make decisions during such market conditions.
- Exploring Coin Listing Strategies: Bitget’s coin listing strategy offers a model for other exchanges and platforms. Understanding this strategy could be beneficial for project teams seeking to get their coins listed on major exchanges.
- Compliance as a Priority: Bitget’s focus on compliance underscores the importance of adhering to regulatory requirements in the cryptocurrency industry. This serves as a reminder for other companies in the sector to prioritize compliance in their operations.
