From obscurity to earning millions daily, how did this company become so successful?
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From obscurity to earning millions daily, how did this company become so successful?
Bitget's growth story is not just about the rise of a company, but also a textbook on career development.
Navigating Web3 tides with focused insightsAuthor: Qingyu Bailu
Last week, our lab had a group dinner. The junior members of the lab had just graduated, so we ended up talking about today’s job market. Traditional internet and physical industries continue to struggle, with constant waves of layoffs.
Yet, in this economic climate, one industry stands out—namely, the cryptocurrency sector.
We often hear news about Bitcoin's volatile price swings, but BTC is just the tip of the iceberg in the crypto world (or "Crypto"), far from representing the full picture of this industry.
Moreover, I've heard that many professionals from finance, internet, and other high-end sectors are switching careers into the Crypto space.
This made me deeply curious: What exactly is so attractive about cryptocurrency? To unravel this mystery, I decided to dive deeper.
While gathering materials, I accidentally came across an incredibly impressive company—Bitget.
In just a few short years, this company grew from an obscure small team into a top-five global player in the industry, now employing 1,500 people worldwide.
What’s even more surprising is that during the economically difficult period of 2022–2024, they expanded against the trend!
I believe their growth story offers valuable insights for personal career development, so I’m sharing it here.
Team Expansion Against the Trend
From 2022 to 2024, the global economy has been far from optimistic, with many companies continuously laying off staff.
Even international giants like Google and Microsoft have cut jobs, yet Bitget actually expanded its workforce!
https://wallstreetcn.com/articles/3706147
The company grew from fewer than 500 employees in 2022 to 1,500—a threefold increase—with staff spread across more than 60 countries and regions.
I was puzzled—what gave them such bold confidence?
Was it faith from Liang Jingru (a famous singer known for songs about courage)?
Until I saw the company’s revenue...
Impressive Performance
Bitget operates in the Web3 space and was founded in 2018.
Since its founding, its growth trajectory has been nothing short of explosive.
Milestones
To date, Bitget has become one of the top five global players in the industry.
Through internal channels, I also learned some additional figures:
-
25 million global users
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$10 billion daily trading volume
-
$500 million protection fund
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$400 million daily spot trading volume
...
What does $10 billion in daily trading volume mean? Currently, transaction fees in the Web3 industry average around 0.1%.
That means Bitget earns as much as $10 million per day just from fees alone.
Now I finally understand why they could keep expanding despite the tough economic climate. This courage doesn’t come from Liang Jingru—it comes from within!
After learning how impressive this company is, I became curious: Why is Bitget so successful?
During my research, I noticed something interesting: in recent years, one name kept appearing in news articles about Bitget.
And this name gradually revealed to me the reason behind Bitget’s success.
The Crypto Queen
In 2022, Bitget welcomed a powerhouse from the financial world: Gracy Chen, who first joined as Managing Director and was officially appointed CEO in May 2024.
Gracy Chen
Her arrival injected fresh energy into Bitget.
Gracy Chen graduated from the National University of Singapore and later earned her MBA from MIT.
She used to be a host at Phoenix TV before moving into investment banking and eventually entering the Web3 space.
Before joining Bitget, she held management roles at XRSPACE, a virtual reality tech company headquartered in Taipei.
XRSPACE attracted significant attention and secured major investments including from Foxconn, raising up to $25 million.
Gracy’s experience in virtual reality gave her deep insight into emerging technologies and future markets.
Between 2013 and 2015, through work connections, Gracy met friends involved in currency investing. Influenced by them, she developed an interest in financial markets and decided to try investing.
Initially unfamiliar with the crypto industry, Gracy started with small positions in mainstream cryptocurrencies like BTC and ETH.
By 2017, the crypto market entered an unprecedented bull run. Despite already holding substantial assets, Gracy chose not to sell but instead dove deeper into the crypto market.
She invested in BitKeep, a company focused on developing cryptocurrency wallets. Through this platform, she gained direct access to the core of the crypto industry and gradually built her understanding of the space.
Interestingly, at the Paris Blockchain Summit on March 22, Bitget announced a $30 million investment in Web3.0 multi-chain wallet BitKeep, gaining controlling interest.
On March 29 of the same year, BitKeep was rebranded as Bitget Wallet.
Quite a serendipitous connection.
Combined with her business management knowledge from MIT, this made her a dual-domain expert bridging traditional finance and cryptocurrency.
I was fascinated by Gracy Chen’s journey.
After speaking with Bitget staff, I obtained more insider information, including details about a talk she gave at MIT, which might help us better understand her.
In one sentence: Her life is a legendary journey from childhood dreams of being a queen to becoming an industry leader.
“I’ve always wanted to be a queen”
Gracy Chen’s story begins in childhood.
“I’ve always wanted to be a queen.”
As a little girl, Gracy would drape a blanket over her shoulders, pretending it was a royal robe, and walk around the house like a queen.
She said this dream took deep root in her heart, though her life wasn’t always smooth sailing.
When she was eleven, her parents divorced, and the family breakdown felt like the end of the world.
Used to living in a comfortable home, she suddenly found herself competing with step-siblings.
As the eldest daughter, Gracy knew she had to restore balance and secure her place in this new “kingdom.”
A strong drive for achievement pushed her forward, striving to become the best version of herself.
During her teenage years, Gracy attended Chengdu No.7 High School—one of the best in Sichuan Province—and later became the first in her family to earn a full scholarship to study abroad.
She chose applied mathematics—the most challenging major—because it sounded smart! Academically, she excelled, winning the Chinese National Mathematics Olympiad and achieving outstanding grades in university.
But deep down, something felt off.
Gracy gradually realized that although she was good with numbers, she preferred interacting with people. She’d always dreamed of becoming a journalist. So when she got the chance to join a beauty pageant hosted by a TV station, she seized it—even though her mentors and professors expected her to aim for graduate school at MIT or a Wall Street job.
Through relentless effort, she finally received approval to participate in Phoenix TV’s Miss China Globe competition, ranking among the top 12 out of 10,000 contestants.
This experience not only fulfilled her dream of becoming a public figure but also opened doors to her ideal career.
She became a TV producer and host, interviewing celebrities and business leaders like Tom Hiddleston and Michelle Yeoh.
Marriage, Family, Career
Having achieved all this by age 25, what came next?
According to traditional Chinese culture, marriage is seen almost as a mandatory life milestone.
Gracy married someone from a well-off family, but gradually realized this wasn’t what she truly wanted.
After marriage, Gracy tried to start her own company, but her husband and his family wanted her to be a homemaker, urging her to have a second child to “continue the family line.”
This went completely against her aspirations.
She began to realize she didn’t exist to depend on others, but to become an independent, confident individual.
Becoming the Crypto Queen
After facing challenges in her marriage, Gracy decided to take back control of her destiny.
She left the household, won custody of her son, and continued pursuing her career ambitions.
In 2017, influenced by friends discussing cryptocurrency, she became interested in the market and began cautiously investing in mainstream coins like BTC and ETH. Rather than cashing out during the bull market, she chose to go deeper into crypto, investing in the BitKeep team.
There, she developed a profound understanding of the crypto space and, combining it with her business education from MIT, emerged as a dual-expert in both traditional finance and cryptocurrency.
With her rich background in finance and crypto, Gracy was invited to join Bitget as Managing Director.
Upon taking office, she began planning strategies to expand Bitget’s brand influence.
Under Gracy’s leadership, Bitget launched multiple marketing and outreach initiatives, venturing not only into traditional sports but also into the emerging esports market.
In October 2022, Bitget signed a partnership with Lionel Messi worth hundreds of millions of RMB. With Messi’s global influence, this undoubtedly helped Bitget rapidly establish its brand overseas.
Gracy Chen with Messi
But there’s a deeper reason: Bitget’s leadership believes the company shares many similarities with Messi—or rather, Bitget’s rise mirrors a Messi-style triumph.
Once, a reporter asked Messi, “Who are you most grateful to?”
He replied, “Those who underestimated me. Without their mockery and dismissal, I might have always thought I was a genius. Argentina has no shortage of geniuses, but very few become true pillars of the nation.”
Bitget’s beginnings were similar. When it was founded in May 2018, it flew under the radar. At the time, people talked about Fcoin, then later FTX. No one noticed that in some quiet corner, a startup was quietly working away—that startup is today’s Bitget.
Her strategy and foresight brought significant results for Bitget, further solidifying its position among the world’s leading cryptocurrency exchanges.
Her career transformation and cross-industry exploration have made her a legendary leader, firmly established in traditional finance while rising prominently in the crypto market.
She has led Bitget forward through turbulent markets, achieving remarkable success.
In recent years, Bitget’s user base has grown fourfold, entering the global top five. While many platforms laid off staff during the bear market, Bitget actually expanded—from 1,000 to 1,500 employees last year.
In the first half of 2024 alone, Bitget saw a net asset inflow of $779 million.
Ending
This is Bitget’s story—a legend of rising from zero to top five globally.
Do you dream of reaching your own career peak? Look at Bitget’s path to success—you might find valuable inspiration.
Amid a challenging global economy, Bitget expanded against the tide, powered by strong revenue and market influence.
Gracy Chen, the legendary figure behind the company, leads her team bravely forward, constantly breaking barriers and setting industry benchmarks.
In her open letter titled “On Bitget’s Fifth Anniversary—Someone Must Always Gaze at the Stars,” two lines stood out:
“Bitget was born from a unique belief—to be among the 10% who remain steadfast when the tide recedes.”
“Unlike exchanges that rise quickly and fade fast, we’re more like marathon runners.”
Bitget’s growth story isn’t just about a company’s rise—it’s a textbook on career development.
I hope this article offers you fresh perspectives and inspiration, whether for career planning or enterprise management.
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