Telecom
Why we Invested $30m in DeFi Wallet Bitkeep – Gracy Chen, Managing Director of Bitget

As a cryptocurrency exchange and digital asset trading platform, Bitget has begun to explore new vistas of opportunities as it hopes to collaborate with BitKeep in order to leverage the respective strengths and advantages of Decentralized finance in its global operations. Gracy Chen, Bitget Managing Director, in this interview with Ugo Onwuaso, speaks on why it invested $30 million in BitKeep, among many other issues.

Bitget Managing Director Gracy Chen
Excerpts:
Hi Gracy, good to have you here. Can you tell us a bit more about yourself and when did you join Bitget
Formerly, I was an anchor and producer at the technology and finance channel of Phoenix TV, one of the largest Asian media conglomerates. That’s also around the time that some of my friends (who are famous crypto entrepreneurs and investors today such as He Yi, co-founder of Binance, and Tim Draper, whom I studied from when I was at Draper University) introduced me to the crypto industry. In 2014, I started to invest in cryptocurrencies including BTC, ETH, and XRP, not in huge amounts. I think people should build portfolios with small percentage investment in crypto according to their own experience and risk-tolerance level. And it’s only since 2017, that I started to invest more in the primary and secondary crypto market. For example, I‘ve been an investor in the early days of BitKeep, Asia’s leading decentralized wallet and Bitget’s sister company. So in this journey, I have witnessed the brand’s development and growth throughout the years. Hence, I decided to join Bitget in 2022, changing the role from an investor to a builder.
Can you tell us about the recent Bitget investment of $30 million in BitKeep
The investment is beneficial for both Bitget and BitKeep as they collaborate to connect DeFi and CeFi, leveraging their respective strengths. The integration of BitKeep Wallet with Bitget’s business domain will enhance the exchange’s product offering and expand its business into the wallet sector, providing native storage and asset management services.
Furthermore, BitKeep’s substantial user base of over 8 million in 168 countries will enable Bitget to tap into a new pool of potential clients. Additionally, BitKeep’s impressive range of services, including access to diverse DeFi protocols and NFT projects across various blockchains, will allow Bitget to transform from a prominent derivative exchange into a comprehensive and holistic exchange with a growing ecosystem, thus delving deeper into the Web3 space.
We have seen you giving speeches in different events talking about Bitget flagship product copy trading. Can you tell us more about Social Trading and how Bitget is helping its users with this innovative product? Do you follow any traders on the platform, any tips you want to share
With the vision to increase financial independence, we focus on transforming the way people connect and trade with social trading. We believe in the power of social trading and make it our quintessential feature, allowing us to differentiate among exchanges such as Binance and OKX, offering users valuable services.
High barriers to crypto investment hinder its mass adoption. Copy trading with more social interactions will be the key. Launched in May 2020, Bitget is the first crypto exchange to introduce copy trading features. It now supports copy trading in the spot market, futures market, and copy a strategist. Since its launch, the copy trading feature on Bitget has attracted more than 80,000 elite traders to share their strategies and more than 380,000 followers to copy, making it the largest crypto copy trading platform. As of Jan 2023, the number of profitable trades through Bitget copy trading is over 47 million, with gains from profitable trades reaching 300 million, and profits shared by elite traders reaching USD 20 million.
“Bitget Insights”, is a new feature on our platform, which makes social trading more accessible to everyone. The feature is acting as a mixture of “social media + trading”, and its curated “lead traders” can post their chart analysis, technical strategies, and articles, to share their insights with followers and help them make smarter financial decisions. As of Jan 2023, over 500 trading experts are sharing their crypto market insights on the platform with nearly 10,000 posts generated.
In the future, we will continue to bring innovative products and services, providing more trading strategies and skills for our users and helping beginners to learn more about the industry.
Changing topic, in this period it is inevitable to talk about the banking crisis. How do you see this impacting the crypto industry? What would you suggest to all our readers considering that there might be more banks on the verge of collapse
I think there will be inevitable development in the space after this wave of bank closures. We are living in an increasingly multipolar, interconnected and multicultural world. Since the 1980s, financial institutions and financial markets have no longer been operating within an enclosed geographical space. Instead, we are trading in a global and highly networked business arena. In this financial context, it is not realistic to think that we can continue to rely on siloed and immutable financial systems.
We need flexible, elevated open-source algorithms, time-efficient financial structures that cut settlement times as well as costs, and transactions that are not only frictionless but also borderless. Digital currencies offer exactly that. So, cryptocurrencies and crypto exchanges have been portrayed as an alternative to traditional banking, but actually we are expanding the financial offerings with the more advanced ecosystem. Most of the traditional banking businesses, such as loans, mortgage and credit cards etc, will still need banks to perform, and crypto exchanges can provide some innovative financial services with its infrastructure.
Bitget did great in 2022 while the market and several crypto companies were collapsing. What’s the secret sauce you have been using to grow rapidly and fast
The year 2022 was one of the roughest in the crypto industry. 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:
- Climbing the chart ranked as the Top 3 exchange according to the Boston Consulting Group report, in terms of crypto derivative trading volume.
- According to the latest TokenInsight report, Bitget’s market share in the derivative market increased from 3% to 11% after the collapse of FTX
- Over 300% increase in total transaction volume, with the popularity of copy trading products
- The workforce grew from barely 200 people at the beginning of 2022 to over 1300 employees now
- Became the exclusive crypto exchange partner with Lionel Messi
Bitget is the first and largest crypto copy trading platform, connecting beginners with professional traders. Launched in May 2020, Bitget now supports copy trading in the spot market, futures market, and copy a strategist. Since its launch, the copy trading feature on Bitget has attracted more than 80,000 elite traders to share their strategies and more than 380,000 followers to copy.
These figures of growth attribute to our endeavors on not only service improvement and product innovation, 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.
Can you tell us more about funds security at Bitget? Do you provide any audits
In Bitget, securing users’ assets on our platform has been our top priority since day one, and we have taken plenty of measures on this end. The first response we have done with FTX’s collapse is to launch a US $5 million builders’ fund to assist affected partners, and increased our Bitget Protection Fund to US $300 million with transparent wallet addresses and guarantee no withdrawal for 3 years. As far as I know, our Protection Fund is the second largest among all CEXs so far.
The next thing we worked on is our Proof-of-Reserves. We have developed a verification tool “Merklevalidator” internally and with free access to open-source codes on GitHub. Not only showing reserve status as a whole in the company, users can also verify their own account’s proof of reserves with the tool, and proving our exchange reserve to users assets is at least on an 1:1 ratio.
Aside from financial measures, Bitget’s team has also been working strenuously on platform security as well. Bitget’s security team adopted measures such as mature risk control systems, advanced security governance, trusted wallet encryption and many more to keep cybersecurity threats under control.
Telecom
MTN Mulls AI Tech to Protect Infrastructure as Cable Cuts Hit 13,000 in 18 Months

MTN Nigeria has said that there are plans to deploy an artificial intelligence (AI) technology to monitor and protect its fibre optic cables across the country.
Yahaya Ibrahim, chief technical officer (CTO), MTN, said the technology will detect vibrations, identify the cause, and alert relevant personnels.
According to Ibrahim who spoke during a session for the ongoing MTN Media Innovation Progamme, the proposed innovation comes amid concerns over the growing spate of telecoms infrastructure vandalism, which have led to multiple cable cuts, and the destruction of towers.
This, he said, would enable the company to promptly deploy agents to the site.
The system is being developed in collaboration with Huawei Technologies.
Providing data on fibre cut incidents in an email correspondence, the CTO said MTN recorded over 9,000 cable cuts in 2024.
He said 4,700 cables were destroyed as at the end of June 2025 alone, bringing the total to about 13,700 incidents in 18 months.
A breakdown of the incidents by zone showed that about 2,500 cuts occurred in northern Nigeria, 2,800 in south-west, while 3,500 were recorded in the south-east and south-south regions combined.
“If we look at the cuts per region, the Southeastern and South South states have more cuts and this is where we have the most hotspots for Fibre and site vandalism,” Ibrahim said.
“Akwa Ibom, Abia and Rivers stand out in states. While in specific locations Omoku and Egbema stand out for fibre vandalization.”
The MTN official said vandalism and road construction account for 69 percent of total cable cuts across the country.
Ibrahim said the incidents often disrupt services, with an average downtime of 15 hours recorded per month.
“Some regions are higher than others,” he said.
“All services will be down, that means no one will be able to use any services.
“We spent N17.6b in 2024 and budget for 2025 based on PO issued for maintenance and relocation is N26.3b.”
In addition to the expenditure, MTN is said to also conduct route patrol, route monitoring, and construction bypass — which involves the creation an alternative route that allows for the temporary or permanent relocation of essential resources around a construction site.
Ibrahim said the telco also invests in having a diverse route for resilience, relocation of fibre, holding stakeholder engagement, and working with communities for policing.
The technical officer confirmed that there are collaborations in place with state and federal authorities to secure fibre routes.
Telecom
NASENI and BPP Forge Nigeria First Alliance to Champion Local Goods and Services

National Agency for Science and Engineering Infrastructure (NASENI) and the Bureau of Public Procurement (BPP) on Monday, 28th July 2025, signed a Memorandum of Understanding (MoU) on the implementation of “Nigeria First” Policy on Procurement, projects and other related matters.
The Nigeria First Policy is an initiative of the Federal Government, aimed at promoting Nigerian-made goods, services and utilization of Local content, infrastructures and other value chain.
As part of the Renewed Hope Agenda initiative of the Government, the policy seeks to encourage local production and consumption of Nigerian goods or services, also to support Nigerian business and entrepreneurs, foster economic growth and development, reduce dependency on imported goods and to promote Nigerian culture and identity. Also, by prioritizing local content, the policy aimed to create jobs, stimulate economic activity, and increase Nigeria’s global competitiveness.
Speaking at the MoU signing ceremony which took place at the Headquarters of Bureau of Public Procurement (BPP) office in Abuja, the Executive Vice Chairman/Chief Executive of NASENI, Mr. Khalil Suleiman Halilu, said, with the signing of MoU and implementation of the Nigeria First Policy, 80% of challenges faced while trying to convince investors and foreign partners would have been solved, as Nigeria will cease to be dumping ground for foreign goods, while focusing on promotion of Nigerian products, goods and services.
Halilu said that with support now coming from BPP, the over 50 market ready NASENI products will be off the shelves and gain patronage of Nigerians, adding that NASENI has gained for the country over 2 billion dollars from its recent partnership activities with China alone.
“One thing that is clear when I took over the leadership of NASENI was the determination to move the Agency from just producing prototypes to commercialization of its technologies and products, this was complemented by the turn around which we did in rebranding the Agency.
“We have 50 market-ready Nigeria branded products. NASENI is building the biggest renewable energy park in Nasarawa and has entered into partnership with Abuja Technology Village to boost Technology Transfer and innovation, enhance local manufacturing capacity, transform NASENI’s research-focused installation into full production facilities, promote national brands and local production”, he further explained.
Buttressing the partnership between NASENI and BPP, he said that it is expected that the policy would have transformative impacts on Nigeria’s economy and human capital development, aligning with national goals for industrialization, youth employment, and economic diversification. “This also shows that our efforts are not in vain:”
Earlier in his speech, the Director-General of Bureau of Public Procurement (BPP) Dr. Adebowale Adedokun said that the MoU between BPP and NASENI offers a structured bridge between production and procurement and how to take locally made solutions off the shelves and to place them at the center of public service delivery, which aimed at aligning Government policies with national priorities as well as giving practical force to the Nigeria First Policy.
According to him, “NASENI’s innovations, from tractors to tablets, from surveillance drones to solar backup systems, will now be actively prioritized in the procurement plans by Ministries, Departments, and Agencies. We are institutionalizing a framework that makes local options not just preferable, but the default option before all others.
Specifically, he said further that with the signing of the MoU, the “BPP will now integrate NASENI’s Product catalogue into the Nigeria Open Contracting Portal, NOCOPO, and therefore encouraging other MDAs to follow suit”
He noted that the “Nigeria First Policy is not an act of protectionism, but an act of patriotism grounded in performance, and it is targeted at fastracking Nigeria’s industrial revolution”. He remarked that “NASENI has invested in quality assurance. Its products are certified by national institutions such as SON and NAFDAC. This means NASENI’s offerings will now be visible, verifiable, and measurable across all MDAs. First, we are integrating NASENI’s catalogue into the Nigeria Open Contracting Portal, NOCOPO. Between January and June this year alone, NOCOPO’s enhanced price intelligence has helped Nigeria save over 173 billion naira, 155 million dollars, and 1.7 million euros.”
While calling on all MDAs to follow NASEN’s footprint in promoting Made in Nigeria products, he said that the BPP’s revised threshold is now five billion naira for goods and ten billion for works, meaning that MDAs can act faster, while they continue to strengthen post-review and audit mechanisms.
He emphasized that the role of BPP is to ensure that these standards are rewarded with access, and that MDAs no longer look outside when the best is being made inside. “For the avoidance of doubt, let me say here that we will be backing this commitment with reform actions”.
Telecom
Treepz Launches in Canada, Secures University of Toronto-Supported Program as First Corporate Travel Client

Treepz, Africa’s fast-growing corporate mobility technology company, has expanded its operations into Canada, marking a significant milestone in its global strategy. The announcement was made at Brampton City Hall, Ontario, with full support from the Mayor of Brampton, Patrick Brown.
The event, which featured key stakeholders and dignitaries, included the official announcement of Treepz’s partnership with the African Impact Initiative, a University of Toronto-sponsored program. Under the agreement, Treepz will provide comprehensive travel logistics—including flights, accommodation, experiences, and ground transportation—for program participants visiting four African countries: South Africa, Kenya, Ghana, and Rwanda.
Speaking at the launch, Mayor Brown described the expansion as “a proud moment for Brampton,” lauding Treepz’s founders for creating a brand that has served over six million customers since its inception in Nigeria in 2019. He added that Treepz’s ability to manage mobility in Lagos, one of Africa’s busiest cities, is a testament to the strength of its operational capacity.
Onyeka Akumah, Treepz Founder and CEO, expressed gratitude to city officials and program partners, noting that the move solidifies Treepz’s role as a globally recognized African brand.
“This launch is a strong statement of intent, not just for Treepz, but for all African startups. We are proud to be serving clients in both Africa and North America,” he said.
Treepz’s entry into Canada was supported by several Canadian organisations, including the World Trade Center’s TAP program, the Black Entrepreneurship Alliance, and the BHive Program.
It follows Treepz’s participation in the Techstars Toronto Accelerator in 2021, which played a pivotal role in its expansion roadmap.
The launch signals a new era for Treepz’s operations and marks a historic moment for African-led innovation in the global travel technology space.
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