Bitget Completes the Burn for 30 Million Bitget Token (BGB) as per Its Previously Shared Burn Mechanism Plan

Bitget, the leading cryptocurrency exchange and Web3 company, has completed the burn for 30 million Bitget Token (BGB) as per its previously shared burn mechanism plan

Cryptocurrency exchange Bitget has completed the burn for 30 million Bitget Token (BGB) as per its previously shared burn mechanism plan for the quarter.

At the time of the burn, this represents a market value of around $130 million and accounts for roughly 2.5% of BGB’s total supply.

The past six months have seen Bitget destroy 42.5% of the total BGB supply. This reduction includes 19% from core team holdings, with the remaining 21% sourced from a combination of circulating supply and reserve allocations. The most recent burn is the first in a series of quarterly events that will use 20% of profits from exchange and wallet operations to repurchase and destroy tokens.

The decision to initiate scheduled burns is a maturing approach to tokenomics, especially in the context of BGB’s rapid rise over the past year. As the best-performing centralized exchange (CEX) token over the last twelve months, BGB has shown strong market resilience and growing demand. Its growing utility across trading, and Bitget’s platform strengthens its position in the top tier of exchange-native assets.

“BGB’s growth brings to notice the paradigm shift in how exchange tokens are perceived,” said Gracy Chen, CEO of Bitget. “It is no longer just a tool for fee discounts — BGB is becoming a pillar of a new digital finance architecture. With the best performance among major CEX tokens in the past year, it is emerging as a strategic asset on its own. This burn is a step toward building an ecosystem where value flows more transparently.”

In early 2025, Bitget merged its native Bitget Wallet Token (BWB) with BGB to unify functionality across centralized and decentralized platforms. This consolidation made BGB a bridge between trading infrastructure, on-chain activity, and user incentives, enabling seamless value transmission throughout the ecosystem.

Bitget continues to invest in building a token economy designed for adaptability and long-term relevance. The recent burn event addresses the token’s long-term growth plans, accelerating utility, liquidity, and user empowerment that define the token’s success.