Bitget Burns $130 Million BGB, 2.5% of the Total Token Supply

Press release

Victoria, Seychelles, April 17th, 2025 –
Bitget, the leading cryptocurrency exchange and Web3 company, has completed the burn for 30 million Bitget Token (BGB) as per its previously shared
burn mechanism plan for the quarter. At the time of the burn, this represented a market value of around $130 million and accounts for roughly 2.5% of BGB’s total supply.
Over the past six months, Bitget has destroyed 42.5% of the total BGB supply. This reduction includes 19% from core team holdings, with the remaining 21% sourced from a combination of circulating supply and reserve allocations. The most recent burn is the first in a series of quarterly events that will use 20% of profits from exchange and wallet operations to repurchase and destroy tokens.
The decision to initiate scheduled burns is a maturing approach to tokenomics, especially in the context of BGB's rapid rise over the past year. As the best-performing centralized exchange (CEX) token over the last twelve months, BGB has shown strong market resilience and growing demand. Its growing utility across trading, and Bitget's platform strengthens its position in the top tier of exchange-native assets.
“BGB's growth brings to notice the paradigm shift in how exchange tokens are perceived,” said
Gracy Chen, CEO of Bitget. “It is no longer just a tool for fee discounts — BGB is becoming a pillar of a new digital finance architecture. With the best performance among major CEX tokens in the past year, it is emerging as a strategic asset in its own. This burn is a step toward building an ecosystem where value flows more transparently."
In early 2025, Bitget merged its native Bitget Wallet Token (BWB) with BGB to unify functionality across centralized and decentralized platforms. This consolidation made BGB a bridge between trading infrastructure, on-chain activity, and user incentives, enabling seamless value transmission throughout the ecosystem.
Bitget continues to invest in building a token economy designed for adaptability and long-term relevance. The recent burn event addresses the token's long-term growth plans, accelerating utility, liquidity, and user empowerment that define the token's success.
For more information, visit here.
About Bitget
Established in 2018, Bitget is the world's leading
cryptocurrency exchange and Web3 company. Serving over 100 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to
Bitcoin price,
Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep,
Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.
Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World's Top Football League,
LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes
Buse Tosun Çavuşoğlu (Wrestling world champion),
Samet Gümüş (Boxing gold medalist) and
İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.
For media inquiries, please contact:
[email protected]
Risk Warning:
Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our
Terms of Use
.
Recommended
- Press releaseBitget Releases April 2025 Proof of Reserves Report: User Assets Secured at 191% Reserve Ratio Victoria, Seychelles, April 25th, 2025 – Bitget, the leading cryptocurrency exchange and Web3 company, has published its monthly Proof of Reserves (PoR) report for April 2025, which shows its continued commitment to transparency and user asset security. The latest verification confirms that Bitget maintains highly secure collateralized reserves, with an industry-leading 191% overall reserve ratio, ensuring full backing of all user funds. Bitget continues
2025-04-25
- Press releaseBitget Lists Dolomite (DOLO), a Modular DeFi Protocol on Arbitrum Victoria, Seychelles, 22 April 2025 – Bitget, the leading global cryptocurrency exchange and Web3 company, has announced the listing of Dolomite (DOLO), a next-generation DeFi protocol built on Arbitrum. Trading will commence under the DOLO/USDT pair on April 24, 2025. The token will be listed in Bitget’s Innovation and DeFi Zone, reflecting its status as a project at the forefront of decentralized finance. Dolomite offers a modular money market protocol that merges advanced
2025-04-23
- Press releaseBitget Upgrades Liquidity Incentive Program with Top-Tier Maker Rebate for Institutional Traders Victoria, Seychelles, April 23, 2025 – Bitget, the leading cryptocurrency exchange and Web3 company, has announced a major upgrade to its Liquidity Incentive Program, set to take effect on May 1, 2025. The revamped program introduces a more competitive fee structure, enhanced rewards, and expanded coverage for both spot and futures markets. This strategic update aligns with Bitget’s commitment in 2025 to serving institutional investors, improving liquidity depth, and tra
2025-04-23