Bitget Welcomes Top 20 Legal Leader Hon Ng as New Chief Legal Officer

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16 Aug, 2024, 17:00 IST

VICTORIA, Seychelles, Aug. 16, 2024 /PRNewswire/ -- Bitget, the leading cryptocurrency exchange and Web3 company, has announced the appointment of Hon Ng as its Chief Legal Officer. With over two decades of experience, Hon has extensively been working with governments and policymakers for global corporations. At Bitget, he will oversee the group's adherence to regulatory requirements worldwide. This includes constructive and active dialogues with regulators, gaining licenses in expansion markets and innovating products for stronger compliance.

Bitget Welcomes Top 20 Legal Leader Hon Ng as New Chief Legal Officer

As an award-winning global lawyer, Mr. Ng has been recognized by the Financial Times as one of the World's Top 20 Legal Leaders and has won numerous legal awards for his work as General Counsel including FT's Innovative Lawyer Award. Prior to Bitget, he was General Counsel and Head of Government Affairs & Policy at Binance, one of the largest crypto exchanges where he oversaw Binance's efforts in licensing and compliance enhancement, as well as its cooperation and settlement with worldwide regulators including those in the U.S.

During Mr. Ng's time at Binance, the company had set up a renowned Global Advisory Committee consisting of some of the best minds from traditional-finance and former lawmakers. During Mr. Ng's tenure, his work changed the way the industry approached compliance and know-your-client (KYC) procedures. Prior to Binance, he helped Uber grow from being a start-up to becoming a global technology giant listed on the New York Stock Exchange. Before going into tech, Mr. Ng was a Corporate and Mergers & Acquisitions lawyer at leading global law firms Latham & Watkins, White & Case and Herbert Smith Freehills. Hon is an avid sports fan and currently sits on the Board committees of various international organizations including the Asian Football Confederation and the Hong Kong Football Association.

"Hon Ng's extensive experience in digital and Web3-related legal and compliance affairs, as well as his outstanding track record of solving complex corporate-level issues and scaling businesses, have singled him out as the ideal candidate for the position of Chief Legal Officer at Bitget," said Gracy Chen, CEO at Bitget.

Among the high-profile matters that Hon Ng has overseen in the past some highlights include a $500 million acquisition of a strategic stake in X (formerly Twitter Inc.) in consortium with Elon Musk, over 30 simultaneous multi-regulator investigations and cooperation in the crypto-space, extensive assistance to governments to create a new regulatory frameworks from scratch for digital assets, and obtaining over 17 licenses and registrations in crypto despite unprecedented headwinds for the industry. He was also extensively involved in driving a $465 million sale of a 51% stake in Lion City Rentals and a $2 billion merger of Uber's Southeast Asian business with Grab.

"I am thrilled to be joining Bitget as its new Chief Legal Officer. Bitget is one of the world's most innovative and fastest growing companies in the Web3 sector. The regulatory environment in digital assets is rapidly evolving. I am delighted to be able to bring my extensive experience to help the Group navigate this complex regulatory landscape and support Bitget's continued growth. This is an exciting opportunity for me to be working with incredibly talented people and to continue to be able to enhance the industry's culture of compliance, working side-by-side with regulators, in order to contribute meaningfully to the sustainability of the digital assets ecosystem," commented Hon Ng, CLO of Bitget regarding his appointment.

"We at Bitget are delighted to welcome Hon as part of the team. The presence of such talent and experience as his, combined with our steadfast determination to adhere to our core values, is what gives our exchange a distinctive edge in terms of legal compliance," as Gracy Chen, CEO of Bitget commented on the addition to the exchange's team.

With over 20 years of professional experience, Hon Ng is a perfect match for the highly demanding position of Chief Legal Officer at Bitget. Bitget is confident that Hon Ng will help the platform strengthen its compliance culture, and grow in line with its core values and goals of advancing the adoption of cryptocurrencies and blockchain worldwide.

About Bitget

Established in 2018, Bitget is the world's leading cryptocurrency exchange and Web3 company. Serving over 25 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. 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, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team).