Strong crypto adoption, driven in part by the inflationary scourge, Several companies in the sector have made investments in Argentina. This is a product of the growing use of cryptocurrencies in the search for alternatives to combat the impact of rising prices has consolidated the operations of several crypto giants in the national territory.
In that context, Ambit spoke exclusively with Gracy Chenrecently appointed CEO of Bitgeton the role she assumes as the new director, her strategy to position the “exchange” in the top three worldwidethe gender gap in the industry and the current situation in the market. Among other objectives, she said that she intends to “increase knowledge of Blockchain among women.”
With more than 10 years of experience in business management, marketing and investment, Chen is a heavyweight in the cryptocurrency worldIn June 2022, she joined Bitget as CEO, where he co-led a strategy that quadrupled the exchange’s user base. “My role expanded significantly. I went from focusing on marketing and some specific areas to a broader vision, seeking to elevate the exchange and make it one of the top three worldwide,” said the executive. However, now the challenge is different and she tells about it in this interview.
Journalist: How was the transition to become CEO and how has your view of the crypto world changed since then?
Gracy Chen: My role has expanded significantly. I have gone from focusing on marketing and a few specific areas to a broader view, looking to elevate the exchange and bring it to a top three globally. Currently, in the spot market we are in the top ten and in the derivatives market in the top five, but as CEO I want to be in the top three. Maybe I have a broader perspective now, but the trends we see in 2024, especially the integration of artificial intelligence to improve trading efficiency, greater transparency and security in operations, are topics we are focused on.
My personal vision aligns very well with Bitget’s mission of democratizing finance through crypto technology. Since my time at MIT, where I was co-president of the Sloan Blockchain Club, I have always been interested in this universe. When I read the Bitcoin whitepaper in 2015 and first heard about BTC and Ethereum, those personal interests perfectly complemented Bitget’s goals of supporting universal access to cryptocurrencies and blockchain technology. I established three focal points in management: Compliance, Emerging Markets and Web3.
We have already seen significant progress in these areas. In the Web3 space, we have launched our own wallet non-custodialwhich recently launched its BWB token and positioned itself as the largest in Asia, integrating more Apps and services such as swaps, NFTs and launches of new tokens.
Q: Why are cryptocurrency exchanges so interested in Argentine users and how do you plan to differentiate yourself from your competitors?
GC: I would say that in Latin America in general, and not only in ArgentinaThis is because it is a region of great interest due to its sustainable growth potential. With strong cryptocurrency adoption, we see many opportunities in these emerging markets, including Africa. We are stepping up our efforts and allocating more resources to these regions.
We differentiate ourselves primarily by our core values of transparency and security. These are not just differentiating factors, but key pillars in a business like ours. For example, we established the Protection Fund in 2022, which has grown significantly. Such a fund offers solid protection to our users in case of losses due to events such as hacks. In addition, we publish all our open wallet addresses online for complete transparency.
Q: What is your current view on the crypto market and what do you think is causing the Bitcoin price correction?
GC: The recent one Bitcoin price correction This is largely due to selling pressures stemming from regulatory actions in Germany and Mongolia. While this is a short-term fluctuation, I still see an overall bull market, especially with the approval of Bitcoin ETFs in Europe. I am bullish on Bitcoin, although I have some reservations about other altcoins due to high valuations in the primary market.
Q: What are the biggest challenges and opportunities for the crypto industry in the future?
GC: The main challenges include global macroeconomic factorssuch as the US Federal Reserve’s interest rate decisions, as well as market saturation with cryptocurrency projects that may not have real long-term value. Opportunities lie in growing institutional adoption and the development of innovative business models that promote mass adoption.
For the future, we have three linked goals: Strengthen our entire ecosystem at Bitgetincluding our wallets, exchange and BCR, through long-term investments and strategic partnerships; connecting the traditional financial world with cryptocurrencies, especially following the approval of Bitcoin ETFs and, possibly soon, Ethereum in the US, which will increase institutional and retail user adoption; and integrating cryptocurrencies into our daily lives, such as through our current experiment with the Bitget Visa Card, which allows the use of cryptocurrencies wherever Visa is accepted.
Cryptocurrencies and the gender gap
Q: What is the Blockchain4Her initiative about?
GC.: I launched Blockchain4Her during the World Economic Forum in Davos this year to address gender disparity in the crypto industry. It’s a topic I’m passionate about, especially after facing personal gender discrimination in my career. The goal is to raise awareness of Blockchain among women and support their active participation in the industry, with a committed investment of $10 million to close this gap.
Q: What advice would you give to women who aspire to enter the world of cryptocurrencies and Blockchain?
GC: As a key promoter of the #Blockchain4Her initiative, my vision is for a sustainable future that involves integrating inclusion and gender diversity into the industry, ensuring that women have equal opportunities and representation. So I would tell them to focus on the results they can deliver and their value proposition, leaving aside gender barriers. At Bitget, we value diversity and 40% of our leaders are women, which shows our commitment to results-based gender equality. I think that is the key both for a woman entering this industry and for any woman in general, you know, focusing on what you can really bring to the table.
Q: Finally, what is an achievement of which you are especially proud?
GC: Recently, in the second quarter of this year, the exchange was ranked in the top three for capital flow according to third-party data, which is a significant achievement considering the current market conditions which are somewhat bearish. I am really happy that we have achieved more capital flow, which is an effort of the entire team, so I am quite proud of this achievement, as it is very recent as it is the beginning of July and the data for the second quarter has just come out.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
