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Coin Edition 2024-12-27 14:02:57

Bitget Unveils Ambitious Plan to Burn 40% of BGB Tokens, Worth Over $5 Billion

Bitget Unveils Ambitious Plan to Burn 40% of BGB Tokens, Worth Over $5 Billion

Bitget to burn 800 million BGB tokens, reducing the circulating supply by 40%. Quarterly burns will begin in 2025, using 20% of profits from exchange revenues. BGB will expand its utility by merging with Bitget Wallet Token (BWB) and supporting real-world crypto transactions. Bitget, one of the largest cryptocurrency exchanges, announced a bold plan to burn 800 million BGB tokens, reducing the circulating supply by 40%. This initiative, valued at over $5 billion, aims to increase the token’s utility and create deflationary pressure. The burn is immediate and permanent, with additional quarterly burns starting in 2025. Additionally, Bitget will use 20% of profits from the Bitget Exchange and Bitget Wallet to buy back and burn BGB. These revenues will come from spot, futures, and NFT transactions. All burn activities will be transparent and recorded on-chain. Expansion of BGB’s Utility Along with the burn, BGB’s utility will expand as it merges with Bitget Wallet Token (BWB). BGB will become the unified token for Bitget’s centralized and decentralized platforms, offering staking, liquidity provision, and eligibility for airdrops. The token will also fa… The post Bitget Unveils Ambitious Plan to Burn 40% of BGB Tokens, Worth Over $5 Billion appeared first on Coin Edition .

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