Telecom
Bitget Sees Largest Market Share Growth after FTX Bankruptcy

Bitget, leading crypto derivatives exchange, has become one of the world’s top 3 crypto exchanges in the derivatives sector paired with enormous achievements, such as a 2.6x market share increase and 8 million registered users in 100+ countries globally, despite the poor market sentiment after FTX’s bankruptcy in 2022.
2022 was one of the roughest years in the crypto industry, which saw the collapse of Terra LUNA, Celsius, and FTX, consequently wiping out over US$2 trillion from the crypto market. Despite the hardships in the market, Bitget grew in all aspects; the company made great strides in building our team, brand, and business over the last 12 months during the crypto winter.
Some key development areas of the company included:
1. Climbing the chart ranked as the Top 3 exchange according to the Boston Consulting Group report, in terms of crypto derivative trading volume.
2. According to the latest TokenInsight report, Bitget’s market share in the derivative market increased from 3% to 11% after the collapse of FTX.
3. Over 300% increase in total transaction volume, with the popularity of copy trading products
4. The workforce grew from barely 200 people at the beginning of 2022 to over 1100 employees in Jan 2023
5. Became the exclusive crypto exchange partner with Lionel Messi

According to the latest data shared by the TokenInsight report, Bitget’s market share increased dramatically from 3% to 11% after the collapse of the former second-largest exchange, FTX, which marked the single largest market share growth in the crypto derivatives sector. At the end of 2022, the top 10 exchanges’ total daily open interest had dropped by 27.1% from January and 41% from its peak in April of the same year. Among the exchanges, only Bitget achieved a significant increase in open interest, from $841 million to $3.74 billion, representing a 344% total increase.
These figures of growth are attributed to our endeavors on not only service improvement, but also the global expansion and adoption of top-notch security and protection measures. Previously, the company focused on serving customers from a few Asian countries alone. However, by the end of 2022, the exchange had acquired over 8 million users in more than 100 countries, with footprints in Turkey, Southeast Asia, Latin America, and Europe. Bitget is safeguarding users’ funds on the platform with a series of security policies, including a $300 million Protection Fund, a Fund Custody service, pledged to be fully reserved back by the Merkle Tree Proof of Reserves model.
Gracy Chen, Managing Director of Bitget ,remarks “2022 marked one of the most important years in the history of Bitget. Our achievements for the year are remarkable, making us a dark horse in the face of those black swan events.
“Although a few negative incidents happened in the industry, Bitget remained steady in our growth and took this as an opportunity to further strengthen our capability.
“Working with Leo Messi also reminded all of us that winning and building an everlasting business requires passion, perseverance, and teamwork. Our significant growth is a testament to all of the hard work and immense efforts our team has dedicated to the company.”
“As macro liquidity continues to affect the crypto market, the interest rate spike is expected to slow down in 2023 gradually. The impact of the Fed on macro liquidity will also continue to affect investors’ expectations for the crypto market.
“In addition, the TVL(Total Value Locked) amount in DeFi is expected to increase slowly in 2023. Regardless of the decline in the value of popular blockchain tokens, the number of active users and new wallet addresses on chains like Polygon, Ethereum, and BSC has remained on the rise.”
“We believe 2023 will be a year full of opportunities and challenges, and our goal will remain focused on providing the best social trading and derivatives trading experience for our users.
“We will also continue to expand our spot markets and improve our overall capabilities to optimize the trading experience on Bitget.
“As the industry continues to consolidate and deleverage, and the macroeconomic conditions improve, we will emerge from this crypto winter, thrive in the year ahead, burgeon into a leading player and propel the industry forward.”
Telecom
4 Dead, 20 Others Injured as Fire Engulfs Cairo Data Centre

Four people have been killed, with over 20 injured after a fire at Cairo data centre disrupted telecom services nationwide.
A fire at a major Telecom Egypt facility in Cairo on Monday has left four workers dead and at least 22 others injured, plunging parts of the capital into a communications crisis.
According to Hossam Abdel Ghaffar, spokesperson for Egypt’s Health Ministry, most injuries were due to smoke inhalation.
The blaze, which broke out at a key data centre operated by Telecom Egypt, the country’s primary fixed-line and internet provider, was brought under control later that day.
However, it caused widespread disruptions, halting phone services, affecting internet connectivity, and even interfering with digital banking operations.
Internet monitoring group NetBlocks reported that national connectivity dropped to just 62% of normal levels following the incident.
Residents across Cairo struggled with poor network access, and banks—although already closed for the day—reported interruptions in ATM services and online transactions.
In a statement on Tuesday, Telecom Egypt mourned the loss of its employees and pledged support to their families.
Amr Talaat, Egypt’s minister of Communications and Information Technology, assured the public that service restoration was underway and expected to be completed within 24 hours.
To address the disruption, the Health Ministry released alternative emergency contact numbers across Egypt’s governorates, in case its primary ambulance hotline remained unreachable.
The state-run MENA news agency reported that the fire was prevented from engulfing the entire building and nearby rooftops, thanks to the efforts of emergency responders.
A preliminary investigation suggests the fire was likely triggered by an electrical short circuit, according to a security source cited by MENA.
As the nation works to restore full connectivity, the incident has raised fresh concerns about the vulnerability of critical infrastructure and the need for enhanced fire safety protocols in sensitive tech facilities.
Telecom
Globalcom Thrills Subscribers with 3 New Digital Products

Tech faints, Globalcom, on Tuesday unveiled three exciting digital products aimed at rewarding customers. The products, Animation World Promo, Treasure Spin and Sport Brain, also provide subscribers with the opportunity to play and win instant prizes.
Globalcom in a statement in Lagos said that the company is dedicated to providing value-added service to its ever-growing customers.
The first digital product, which is Animation World Promo, is an innovative trivia-based service aimed at challenging customers culinary knowledge of Nigerian food. With it, subscribers engage in answering food related questions, earn points and win delicious prizes.
For Treasure Spin, customers are availed the digital treasure spin experience. With each spin Glo subscribers stand a chance to win instant prizes, making every participation exciting and rewarding.
In addition, Globalcom captures the heart of football lovers with Sport Brain. Subscribers are allowed to predict football scores in matches across top leagues all around the world. Customers get to select their preferred leagues. “It’s a fun and competitive way for football lovers to test their instincts and knowledge,” the company noted.
Customers who subscribe to any of the three services stand a chance to win fantastic daily, weekly, and monthly prizes. Every day, 20 participants will receive ₦1,000 cash, ₦1,000 airtime, and 3.5GB data. On a weekly basis, five lucky winners will walk away with ₦100,000 each, while one grand prize winner will receive ₦1 million every month.
To participate, customers are required to dial *13055*2# for Animation World Promo,*13199*3# for Treasure Spin and *13199*2# for Sport Brain. Each plan can be activated either as a one-time purchase or Auto Renewal.
Globacom further explained that all products are available at an affordable subscription rate of ₦100 for a daily plan, ₦300 for weekly plan and ₦500 for monthly plan.
In concluding, the company disclosed that the services are available to all Glo prepaid and postpaid subscribers nationwide.
Telecom
SiBAN Applauds Interstellar’s Groundbreaking Role in Africa’s Blockchain Future

The Stakeholders in Blockchain Technology Association of Nigeria (SiBAN) has lauded Interstellar, one of its prominent members, for spearheading a major breakthrough in Africa’s financial technology space.
This follows Interstellar’s strategic partnership with the Pan-African Payment and Settlement System (PAPSS) to roll out the PAPSS African Currency Marketplace (PACM), a blockchain-based platform designed to address the continent’s long-standing currency inconvertibility challenge.
The initiative is already being hailed as a game-changer capable of eliminating the $5 billion annual trade friction currently plaguing intra-African commerce.
According to SiBAN President, Mr Obinna Iwuno, the development affirms Nigeria’s leadership in blockchain innovation, stating that Interstellar’s PACM is not only a technological feat but also a timely response to the African Continental Free Trade Area (AfCFTA) mandate of seamless and cost-effective regional trade.
PACM operates on STARGATE, a blockchain-agnostic system developed by Interstellar, and leverages the Bantu blockchain network to facilitate real-time, peer-to-peer exchanges of African currencies.
The solution ensures financial inclusion by allowing businesses, SMEs, and informal traders to transact in local currencies without relying on foreign intermediaries, all while maintaining regulatory compliance.
Mr Ernest Mbenkum, CEO of Interstellar, described the solution as Africa’s roadmap to financial sovereignty. “Blockchain is not just innovation; it is empowerment,” he said.
SiBAN reaffirmed its commitment to supporting policies and partnerships that promote secure, transparent, and inclusive digital economies.
The association further called on stakeholders in government and the private sector to prioritise blockchain adoption as a driver of national development.
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