{"id":44141,"date":"2024-12-27T13:17:21","date_gmt":"2024-12-27T13:17:21","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitget-announces-40-bgb-burn-token-buyback\/"},"modified":"2024-12-27T13:17:21","modified_gmt":"2024-12-27T13:17:21","slug":"bitget-announces-40-bgb-burn-token-buyback","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitget-announces-40-bgb-burn-token-buyback\/","title":{"rendered":"Bitget announces 40% BGB burn, token buyback"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1679917440839-3326e336-e269-4eca-9109-99bda718fb1e-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1679917440839-3326e336-e269-4eca-9109-99bda718fb1e-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1679917440839-3326e336-e269-4eca-9109-99bda718fb1e-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1679917440839-3326e336-e269-4eca-9109-99bda718fb1e-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Bitget has outlined a new token buyback plan in its just released whitepaper.<\/li>\n<li>The exchange will burn 40% of its native token BGB.<\/li>\n<li>Future burns include 20% of exchange profits \u2013 which will be used to buy BGB off the market.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/coinjournal.net\/news\/tag\/bitget\/\">Bitget<\/a> has announced plans to burn 800 million BGB tokens valued at $6.8 billion.<\/p>\n<p>The exchange in its newly released <a href=\"https:\/\/img.bitgetimg.com\/multiLang\/events\/BGB-whitepaper-en-20241227.pdf\" target=\"_blank\" rel=\"noopener\">whitepaper<\/a>, indicates an initial token burn of 40% of its total supply. Per the details, this will be about 800 million BGB, with completion seeing the exchanges\u2019 native token\u2019s circulating supply drop to 1.2 billion.<\/p>\n<h2>Quaterly burn and BGB buyback<\/h2>\n<p>From early 2025, the whitepaper release indicates that Bitget will introduce quarterly burns for BGB tokens.<\/p>\n<p>It will also initiate quarterly burns of 20% profits from Bitget exchange operations and Bitget crypto wallet. The funds raised through the operations will be used to buy back and burn BGB.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitget?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitget<\/a> introduces a buyback and burn plan to further enhance <a href=\"https:\/\/twitter.com\/hashtag\/BGB?src=hash&amp;ref_src=twsrc%5Etfw\">#BGB<\/a> value for HODLers with deflationary supply.<\/p>\n<p>\ud83d\udd25 Initial Burn: with 800M tokens, worth $5B+, 40% total supply.<br \/>\ud83d\udcb0 Quarterly Burns: 20% of exchange &amp; wallet profits.<\/p>\n<p>Learn more: <a href=\"https:\/\/t.co\/HcrZJUmYLf\">https:\/\/t.co\/HcrZJUmYLf<\/a><\/p>\n<p>\u2014 Bitget (@bitgetglobal) <a href=\"https:\/\/twitter.com\/bitgetglobal\/status\/1872613576109912480?ref_src=twsrc%5Etfw\">December 27, 2024<\/a><\/p>\n<\/blockquote>\n<p>Recently on Dec. 26, Bitget announced a merger between Bitget Token (BGB) and <a href=\"https:\/\/coinjournal.net\/news\/bitget-wallet-token-bwb-makes-debut-on-the-bitget-launchpad\/\">Bitget Wallet Token (BWB)<\/a>. Following the merger, the duo will serve as a unified token. BGB becomes the new unified token for both Bitget\u2019s centralized and decentralized ecosystem.<\/p>\n<h2>Key benefits<\/h2>\n<p>Some of the benefits BGB offers to its holders include VIP privileges, fee discount and access to token farming via Launchpool.<\/p>\n<p>Bitget assured its clients that the Bitget Token and Bitget Wallet Token merger will not affect BGB token supply, with the exchange rate ranging between 11.6 BWB to BGB. Amid the news, BGB\u2019s price rallied a notable 22% to lead top altcoin gainers in the past 24 hours.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/bitget-announces-40-bgb-burn-token-buyback\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Bitget has outlined a new token buyback plan in its just released whitepaper. The exchange will burn 40% of its native token BGB. Future burns include 20% of exchange profits \u2013 which will be used to buy BGB off the market. [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":44142,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/44141"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=44141"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/44141\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/44142"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=44141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=44141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=44141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}