Bitget Burns $130 Million BGB, 2.5% of the Total Token Supply
VICTORIA, Seychelles, April 17, 2025 /PRNewswire/ -- 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.
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.
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