Summary
- Bitget announced that it burned Bitget Token (BGB) worth approximately 140 million dollars.
- This burn corresponds to 2.56% of the total supply and is conducted regularly on a quarterly basis.
- Bitget had previously burned a similar amount of Bitget Tokens in the first quarter.
Global cryptocurrency exchange Bitget has burned its own tokens worth 140 million dollars.
Gracy Chen, the Chief Executive Officer (CEO) of Bitget, announced through X (formerly Twitter) on the 10th (local time), "Approximately 30 million Bitget Tokens (BGB) have been burned," adding, "This accounts for 2.56% of the total supply." The Bitget Tokens burned by Bitget this time amount to about 138 million dollars at current value.
This burn is Bitget's second quarter Bitget Token burn. Bitget burns a certain amount of Bitget Tokens every quarter. In the first quarter of this year, Bitget had also burned about 30 million Bitget Tokens.
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