TREE NEWS update: Bitget has reopened bitcoin withdrawals following a $387.5 million breach, while ETH and USDT withdrawals remain paused. CEO Gracy Chen pledged to replenish the exchange’s protection fund above $300 million this week.
Bitget Reopens Bitcoin Withdrawals After $387.5 Million Breach
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AI take
Reopening BTC withdrawals first is a telling triage choice: bitcoin is the asset most likely to be scrutinized by large holders, so restoring it signals confidence before ETH and USDT — the rail most retail users actually need — come back. The pledge to top the protection fund back above its prior level is the more consequential commitment, since it tests whether the exchange absorbs the loss from its own balance sheet rather than socializing it. Whether ETH and USDT withdrawals resume on a comparable timeline, and whether the fund top-up is verifiable on-chain, are the open questions.
Generated by AI for reference only.
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