Bitget Protection Fund Maintains Strength with $561 Million Average Value in April 2025

 

VICTORIA, Seychelles, May 15 (Bernama-GLOBE NEWSWIRE) -- Bitget, the leading cryptocurrency exchange and Web3 company, reports that its Protection Fund held an average value of $561 million throughout April 2025, highlighting the exchange's ongoing efforts to maintain strong security for its user base. The Protection Fund hit a high of $617M and a low of $496M for the month of April but maintained a strong average overall. The fund remains a key layer of protection against market instability, offering reassurance to users during a period of macroeconomic uncertainty and shifting investor sentiment in crypto markets.

The fund fluctuated in tandem with broader digital asset movements in April, as Bitcoin traded within a moderate range and altcoins showed mixed performance. Despite a challenging market, the Protection Fund sustained strong fundamentals, showcasing its stability and the resilience of Bitget’s risk mitigation framework. 

“Our Protection Fund continues to reflect the strength of Bitget’s long-term security strategy,” said Gracy Chen, CEO of Bitget. “As conditions in the crypto market evolve, the fund’s performance shows our priority in safeguarding user assets and building a reliable ecosystem that can weather both volatility and growth.”

Launched in 2022 with an initial allocation of $300 million, the Protection Fund has more than doubled in size, bolstered by Bitget’s steady platform growth and smart financial management. Bitget’s security framework is built on a comprehensive, multi-layered approach that goes well beyond its $516M Protection Fund and 191% Proof of Reserves. With monthly Merkle Tree audits verifying full asset backing and ISO 27001:2022 certification reinforcing best-in-class protocols, the platform integrates SSL encryption and an advanced risk control system that actively monitors suspicious activity. This combination of rigorous standards and real-time protection has kept Bitget breach-free since 2018 and contributed to its AAA security rating and helped reinforce user confidence to set a benchmark for transparency across the industry.

For more information and monthly updates on the Protection Fund, visit here.

About Bitget

Established in 2018, Bitget is the world's leading cryptocurrency exchange and Web3 company. Serving over 120 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.

For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

For media inquiries, please contact: media@bitget.com

Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/d71d7905-324d-44e1-be39-0046857f39ac

https://www.globenewswire.com/NewsRoom/AttachmentNg/d3a3c692-7be0-41a9-9b0d-edd9ebc3511b
  
SOURCE: Bitget Limited

DISCLAIMER: BERNAMA MREM are not accountable for any causes of website defacement, misuse, or illegal activities connected to cryptocurrency, blockchain, tokenisation, or bitcoin. This material should not be considered as guidance or an opinion, as it does not constitute financial or investment advice. Use this information at your own risk; we are not liable for any losses or damages caused by the republication of this article.

APPSEC SHIFTS FROM BACKSTAGE TO BOARDROOM IN CHECKMARX STUDY

KUALA LUMPUR, May 14 (Bernama) -- Application security (AppSec) is emerging as a key consideration in purchasing decisions, with nearly half of chief information security officers (CISOs) confirming that buyers now prioritise secure software, according to a new report by Checkmarx.

Titled “A CISO’s Guide to Steering AppSec in the Age of DevSecOps”, the annual report is based on a global survey of 200 CISOs across various sectors, including banking and finance, media, insurance, manufacturing, and the public sector.

As applications become more complex—driven by AI, microservices, and hybrid architectures—development teams are increasingly responsible for embedding security directly into the software development process. Faster release cycles and growing codebases are prompting budget and decision-making authority to migrate from CISOs to developers.

Checkmarx Chief Product Officer Jonathan Rende emphasised this transition, noting that AppSec is no longer just a technical concern but a strategic, boardroom-level issue.

“As development teams take greater ownership, CISOs must focus on governance, strategy and collaboration to keep security outcomes on track,” he said in a statement.

A global leader in cloud-native application security, Checkmarx found that 49 per cent of respondents stated AppSec is regularly factored into customer purchasing decisions, while 24 per cent said it is “always” a consideration. The trend is most prominent in Europe (58 per cent), compared to the Asia Pacific (33 per cent) and North America (eight per cent).

The report also revealed a shift in security ownership, where responsibility is divided in software product companies, with 50 per cent of security oversight lies with CISOs, while 43 per cent has shifted to development teams. Additionally, 56 per cent noted their development teams are fully integrated with AppSec programmes.

Despite the growing importance of AppSec, the study found inconsistency in how security is reported at the executive level. While 62 per cent of CISOs present AppSec metrics to their boards, only 25 per cent link them to business outcomes such as brand reputation or regulatory exposure.

The survey, conducted in partnership with Global Surveyz, involved CISOs from companies generating over US$750 million in annual revenue and managing development teams of at least 180 members. (US$1=RM4.30)

-- BERNAMA

Best’s Market Segment Report: AM Best Maintains Stable Outlook on Japan Non-Life Insurance Segment

 

HONG KONG, May 14 (Bernama-BUSINESS WIRE) -- AM Best is maintaining a stable outlook on Japan’s non-life insurance industry, citing improved profitability in the fire insurance line and heightened regulatory oversight, which is driving industry reforms.

The Best’s Market Segment Report, “Market Segment Outlook: Japan Non-Life Insurance”, notes that Japan’s Financial Services Agency has increased scrutiny of non-life insurers in the past 18 months, outlining stricter governance requirements for insurers, including stronger oversight of agency networks and eliminating improper incentives provided by insurers to distributors. While the new regulatory measures may lead to higher compliance costs for insurers in the short term, these shifts should increase transparency and foster fair market competition, as well as help insurers improve acquisition cost efficiency over the long term.

The non-life industry also will see the implementation of the Insurance Capital Standard in fiscal-year 2025, whereby assets and liabilities will be measured at market value. While the new solvency regime should have a greater impact on life insurers, most Japanese non-life insurers have been preparing for this transition by augmenting their risk management frameworks over the past few years.

“AM Best expects that the regulatory shift will lead to increased transparency and comparability for Japanese non-life insurers with global counterparts under similarly advanced regulatory frameworks, equipping them to navigate economic uncertainties more effectively and enrich global competitiveness over the long term,” said Chanyoung Lee, director, analytics, AM Best.

According to the report, Japan’s non-life insurers have implemented various measures to combat significant underwriting volatility in their homeowners-related fire insurance products, given the increase in the occurrence and severity of natural catastrophes. The measures are aimed at ensuring that policies are more accurately priced according to actual risk exposure and reduce the likelihood of underwriting losses over time.

Japan’s interest rate environment also has become more favourable for insurers, and the paradigm shift, transitioning from a focus on deflation avoidance to inflation control, has benefited non-life insurers with substantial bond portfolios. This trend is expected to persist over the next 12 months and contribute positively to non-life insurers’ investment income.

Conversely, the report notes that Japan’s automobile insurance segment continues to face profitability challenges. “A key issue is the persistent increase in repair costs, driven by higher prices for spare parts and rising labour costs,” said Charles Chiang, senior financial analyst, AM Best. “Our analysis shows that the loss ratios of major non-life insurers have been trending upward in recent quarters.”

To access the full copy of this report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=353781.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2025 by A.M. Best Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20250513248433/en/

Contact

Charles Chiang
Senior Financial Analyst
+852 2827 3427
charles.chiang@ambest.com

Chanyoung Lee
Director, Analytics
+852 2827 3404
chanyoung.lee@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

Cynthia Ang
Senior Industry Research Analyst
+65 6303 5026
cynthia.ang@ambest.com

Source : AM Best

PLEXUS RAISES US$6 MLN TO DRIVE GLOBAL GROWTH, NEXT-GEN AUTOMATION

 

Andrew Mellett, Plexus Founder and CEO, is leading the company’s next phase of AI-driven innovation following a $6 million capital raise.

KUALA LUMPUR, May 14 (Bernama) -- Plexus, the artificial intelligence (AI)-powered legal automation platform, has secured over US$6 million in new funding to accelerate global expansion and AI-led innovation. (US$1=RM4.30)

The funding round, led by current investors and Seattle-based Lighter Capital, marks Plexus’ first institutional partnership in addition to accelerating AI product delivery and onboarding the next wave of exceptional talent, according to a statement.

Plexus founder and chief executive officer, Andrew Mellett emphasised the growing need for tech-forward legal solutions, stating that outdated legal processes no longer meet the pace of modern business.

He sees Plexus at the forefront of a major industry shift toward AI-driven legal services, positioning the company to capitalise on the US$1.1 trillion global legal market.

Mellett views this funding as just the beginning of reshaping how in-house legal teams operate—faster, smarter, and at scale.

Meanwhile, Lighter Capital investment director, Matthew Dowling highlighted the legal automation space as one of the fastest-growing sectors in business-to-business (B2B) software as a service (SaaS), calling Plexus well-positioned to capture more of this emerging market.

“With recent growth and solid business metrics, Plexus was a perfect fit for Lighter Capital's non-dilutive financing. This raise is not just about fuelling growth; it is about accelerating a new phase of legal innovation,” said Dowling.

Lighter Capital was selected for its proven experience supporting high-growth SaaS platforms and alignment with Plexus' strategic direction.

With major brands like Nike, L’Oréal, and PepsiCo already using the platform to automate tasks like contract review and compliance, Plexus is evolving from a legal tool into a full-fledged digital legal assistant.

-- BERNAMA

AM BEST TO PRESENT OUTLOOK ON PHILIPPINE NON-LIFE INSURANCE AT INDUSTRY SUMMIT

KUALA LUMPUR, May 13 (Bernama) -- AM Best will be represented at the Philippine Insurance Summit 2025, with senior financial analyst Susan Tan scheduled to deliver a presentation on the company’s outlook for the Philippine non-life insurance sector.

According to the global rating agency in a statement, the summit will be held on May 20 in Makati City, Philippines.

Tan, who is based in Singapore, manages a portfolio of rated insurers across the Asia Pacific region and will share insights into market developments and expectations for the Philippine insurance landscape.

Also attending the summit are AM Best managing director and chief executive officer for Asia Pacific Rob Curtis and market development analyst Johnathan Wong, who will be available for meetings with industry stakeholders.

Organised by the Insurance Institute for Asia and the Pacific (IIAP) in partnership with the Philippine Insurers and Reinsurers Association (PIRA), the summit carries the theme “Shaping the Future of Insurance: A Collaborative Path to Sustainability”.

The event will bring together industry professionals to discuss emerging trends, challenges and opportunities in the evolving insurance sector.

-- BERNAMA

Antalpha Announces Launch of Initial Public Offering

SINGAPORE, May 7 (Bernama-GLOBE NEWSWIRE) -- Antalpha Platform Holding Company (“Antalpha” or the “Company”) today announced that it has launched the roadshow for its proposed initial public offering of 3,850,000 ordinary shares with expected pricing between $11.00 and $13.00 per ordinary share. Antalpha expects to grant the underwriters a 30-day option to purchase an additional 577,500 ordinary shares to cover over-allotments, if any. The Company has applied to list its ordinary shares on the Nasdaq Global Market under the ticker symbol “ANTA.”

Roth Capital Partners and Compass Point are joint book-running managers for the proposed offering.

The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to this proposed offering, when available, may be obtained by visiting EDGAR on the SEC's website at www.sec.gov. Alternatively, copies of the preliminary prospectus, when available, may be obtained from: Roth Capital Partners, LLC, 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660 Attn: Prospectus Department, by phone: (800) 678-9147, or by email at rothecm@roth.com; or Compass Point Research & Trading, LLC, Attention: Syndicate, 1055 Thomas Jefferson Street, N.W. Suite 303, Washington, D.C. 20007, or by email to: syndicate@compasspointllc.com.

A registration statement on Form F-1 relating to the proposed offering of these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release is being made pursuant to, and in accordance with, Rule 134 under the Securities Act of 1933, as amended, and shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Antalpha

Antalpha is a leading fintech company specializing in providing financing, technology and risk management solutions to institutions in the digital asset industry. As the primary lending partner of Bitmain, Antalpha offers Bitcoin supply chain and margin loans through the Antalpha Prime technology platform, which allows customers to originate and manage their digital asset loans, as well as monitor collateral positions with near real-time data.

Contact
Investor Relations: ir@antalpha.com

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. Statements that are not historical facts, including statements about Antalpha’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in Antalpha’s filings with the SEC. All information provided in this press release is as of the date of this press release, and Antalpha does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f0c7d150-bab1-4305-b435-3075d23fa0ad

SOURCE: Antalpha Platform Holding Company

DISCLAIMER: BERNAMA MREM are not accountable for any causes of website defacement, misuse, or illegal activities connected to cryptocurrency, blockchain, tokenisation, or bitcoin. This material should not be considered as guidance or an opinion, as it does not constitute financial or investment advice. Use this information at your own risk; we are not liable for any losses or damages caused by the republication of this article.

--BERNAMA

NIKE REVAMPS LEADERSHIP TEAM, PROMOTES KEY EXECUTIVES AS O'NEILL RETIRES

KUALA LUMPUR, May 6 (Bernama) -- NIKE Inc (Nike) has unveiled a strategic reorganisation of its Senior Leadership Team (SLT) to fast-track progress on the company’s "Win Now" action plan and position it for long-term growth.

In a statement, the company said its President and Chief Executive Officer (CEO), Elliott Hill, along with outgoing President of Consumer, Product, and Brand, Heidi O’Neill, announced that leadership responsibilities will now be split into three distinct areas.

These areas are Consumer and Sport, Marketing, and Product Creation, which includes Innovation and Design. These divisions will report directly to Hill.

Following this reorganisation, O’Neill will retire after 26 years with the company, remaining in an advisory role until September.

Hill praised her lasting influence on Nike’s brand and innovation, crediting her for putting athletes at the core of the company’s vision.

He also expressed confidence in the revamped structure, stating that the appointments would enable Nike to fully leverage its competitive strengths and maintain its focus on sport and athletes.

In line with the leadership changes, Amy Montagne, formerly Vice President (VP)/General Manager of Global Women’s, has been appointed Nike President, tasked with driving growth and strengthening consumer engagement across all sports.

Phil McCartney, who previously held the role of VP, Footwear, has been promoted to Executive Vice President (EVP), Chief Innovation, Design & Product Officer, overseeing innovation and product creation for Nike, Jordan and Converse.

Nicole Graham has been elevated to EVP, Chief Marketing Officer (CMO), from her previous position as CMO, where she will lead brand storytelling and global marketing efforts for all three brands.

Meanwhile, Dr Thomas Clarke, who has been serving as strategic advisor to the CEO, takes on the new position of Chief Growth Initiatives Officer, focusing on Nike's long-term expansion strategies.

-- BERNAMA