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Bitget Mulls U.S. Entry While Awaiting Trump’s Pro-Crypto Administration

Author: Content Editor
Bitget, one of the largest cryptocurrency exchanges, is considering forming partnerships with US firms to establish a presence in the American market. The exchange sees an opportunity due to the likely pro-crypto stance of the incoming Trump administration. Binance.US, the US arm of the largest exchange Binance, has been heavily impacted by a $4.3 billion settlement with US authorities, leading to limited access for American citizens. Bitget, which achieved a daily trading volume of $8 billion, considered acquiring US state licenses in early 2022 but decided against it due to high legal costs and competition with Coinbase. The exchange is now exploring a US strategy that involves partnering with a local firm that already holds the necessary licenses. Bitget has experienced growth in areas such as Nigeria through a $30 million investment in TON, the token of messaging app Telegram's blockchain network. Bitget CEO Gracy Chen mentioned concerns regarding security and the stability of governments in certain countries.

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