Bitget invests US$30 mln in BitKeep wallet, becomes controlling shareholder

Seychelles-based cryptocurrency exchange Bitget said it has invested US$30 million in decentralized multi-chain wallet BitKeep to become its controlling shareholder. 

See related article: Bitcoin rises above US$28,000; XRP biggest gainer in top 10 cryptos

Fast facts

• The investment will let Bitget expand its range of services while supporting BitKeep to improve stability and security of its offerings, the exchange said in a statement. 
• In November, Bitget announced plans to expand its workforce to 1,200 with 400 additional hires by the first quarter of 2023. 
• Singapore-based BitKeep, founded in 2018, raised its valuation to US$100 million last May after a US$15 million Series A funding round led by Dragonfly Capital.
• BitKeep has over eight million users and supports 90 mainnet networks, including Bitcoin, Ethereum, BNB Chain, Polygon and Solana, according to the company.
• BitKeep suffered a cryptocurrency theft in October last year when over US$1 million in BNB tokens was stolen by an unidentified hacker. 

See related article: Texas legislature introduces bill to attract Bitcoin-related businesses, protect interests of same