Bitget Clarifies: No Shared Major Shareholder with Bybit, Emphasizes Healthy Competition

Bitget, a leading cryptocurrency exchange, has clarified its relationship with its competitor, Bybit, in a recent statement. The Chinese language spokesperson for Bitget, Xie Jiayin, responded to a netizen's comment that suggested the two exchanges were like "brothers" sharing the same major shareholder. Xie Jiayin clarified that Bitget and Bybit do not have the same major shareholder and instead have a relationship of "benign competition."

In the statement, Xie Jiayin emphasized that the current market environment is challenging, and competition is essential for the healthy development of the industry. He noted that opponents in the market do not necessarily have to be enemies and can instead push each other to improve and provide better services for users. A fully competitive exchange ecosystem, according to Xie Jiayin, can best protect users' rights and provide the best service.

The clarification from Bitget comes as the cryptocurrency industry continues to evolve and face regulatory challenges. As competition among exchanges intensifies, it is crucial for industry players to maintain a healthy and collaborative environment to ensure the growth and sustainability of the sector.