ChainCatcher news, Bitget appoints Gracy Chen as CEO, effective this May. Former CEO Sandra Lou will leave the company to focus on personal endeavors.Gracy has over 10 years of management, marketing, and investment experience and joined Bitget as Managing Director in 2022. During her tenure, she and the management team led Bitget in advancing its globalization strategy, signing celebrities like Messi, and building an international alliance network, increasing Bitget's user base by four times and propelling its total trading volume and overall strength into the global top five.Gracy actively promotes the integration of blockchain with public welfare, leading Bitget to launch the #Blockchain4Youth initiative aimed at encouraging young talents to embrace blockchain technology, as well as the #Blockchain4Her public welfare initiative supporting female entrepreneurs and professionals. Gracy is also a columnist for well-known media outlets such as Forbes and Cointelegraph. Additionally, she was invited to join the first crypto reality TV show Killer Whales, produced by a Hollywood team, as a judge to find promising Web3 startups. Gracy holds a bachelor's degree from the National University of Singapore (NUS) and an MBA from the Massachusetts Institute of Technology (MIT).

ChainCatcher news, the Harvard Entrepreneurship Club and the Berkeley Chinese Music Industry Association jointly launched the AMIF Music Venture Special Forum. Gracy Chen, Managing Director of Bitget, was invited to attend the forum, where she discussed the latest trends in the global music industry, investment, and entrepreneurial opportunities with George Howard, Professor of Music Business Management at Berkeley, and Gao Yang, Co-founder of MIXX Lifestyle Group.

ChainCatcher news, invited by Forbes, Bitget's Managing Director Gracy Chen has been selected as a member of the Forbes Business Council. The Forbes Business Council is an invitation-only community for entrepreneurs and business leaders. Gracy Chen passed the review and selection process by the advisory board and officially became a member of the Forbes Business Council due to her achievements in the management field.Bitget's Managing Director Gracy Chen stated, "I am very honored to join the Forbes Business Council and look forward to collaborating with the business leaders of the council. This is an opportunity to drive the development of the digital space and further realize our mission."

ChainCatcher news, Bitget's General Manager publicly stated regarding the recent malicious events in the industry: "Since the birth of the industry, we have experienced many ups and downs together, traversing bull and bear markets, and witnessing the rapid development of the industry. Along this journey, we have gathered industry practitioners with a shared goal and common aspirations. Some have exited but still hold a passion, while many more, like Bitget, focus on enhancing product experience and service quality as builders of the industry."She pointed out, "Deliberate smearing and slandering of competitors will hinder the progress of the industry; obstacles to industry development should not come from peers. Bitget will always be a builder of the industry and a practitioner of positive energy. We once again thank our users who have always trusted us. Bitget will uphold the original intention of the cryptocurrency industry, resolutely maintain a fair and orderly positive environment, and truly create value for the industry and users."

ChainCatcher news, August 25, Benzinga selected 30 global figures to watch, among which Gracy Chen, Managing Director of Bitget, made the list.Benzinga explained the reason for Gracy Chen's inclusion on the list: "Chen actively promotes the development of cryptocurrency, launching innovative tools that combine artificial intelligence to effectively lower the entry barriers to the crypto space. Her profound understanding of blockchain and artificial intelligence, combined with her extensive experience as a professional speaker and interviewer, makes her the perfect ambassador between traditional finance and crypto investment."

ChainCatcher news, according to DefiLlama data, the current total market capitalization of stablecoins is approximately $124.3 billion, the lowest level since September 2021, with continuous outflows from the entire market. As of August 23, USDT's market capitalization reached $82.815 billion, accounting for 66.62% of the stablecoin market share, ranking first; the second and third largest by market capitalization are USDC ($25.57 billion) and DAI ($5.08 billion), respectively.In terms of the outflow of funds from mainstream stablecoins, except for DAI, which has shown an upward trend due to the revival of RWA, centralized stablecoins including USDT and USDC have seen outflows of 1.15% and 3.55% this month, respectively; BUSD has experienced the most severe outflow in a single month, reaching 17.35%.Gracy Chen pointed out: "The overall volume of stablecoin funds is expected to continue to decline, one reason being the ongoing decline in the crypto market, which has also led to a continuous decrease in mining yields around stablecoins, resulting in large funds exiting; secondly, the reduction in market wealth effects and the overall decrease in volatility are causing speculative capital to gradually withdraw. Thirdly, the Federal Reserve's continuous interest rate hikes are pushing up deposit rates, leading to significant outflows of dollar stablecoins. Additionally, a major positive event is needed to reverse the market trend and stop the outflow of stablecoins."

ChainCatcher news, Bitget will hold the "Bitget 5th Anniversary VIP Private Journey" in Singapore from September 11 to September 14. Bitget's General Manager Gracy Chen has confirmed her attendance at this VIP event, where she will engage in in-depth discussions on emerging hot topics with attendees and share industry experiences.

ChainCatcher news, recently the Telegram Bot track has been gaining popularity, mainly due to the meme wealth creation myth and the rampant MEV providing fertile ground for the growth of Telegram Bots. Currently, Unibot cannot rely on its product to earn most of its money, but is heavily dependent on token trading (charging a 5% transaction tax). If token trading volume declines, a vicious cycle may occur: "reduced income, deteriorating fundamental data, declining user confidence, token price drop, and weakened wealth effect in the track."Bitget's General Manager Gracy Chen stated, "To avoid a vicious cycle in the Bot track, continuous progress is needed in both user base and product innovation. There is significant room for growth in current trading volume and number of trading users. Bots expanding from Telegram to Discord, like Wagiebot, may also be a way to acquire new users. In terms of product innovation, Bots may not be limited to Snipe and Front-Run of Tokens in the future, but can also explore new users in the NFT market. Additionally, the underlying logic of Telegram Bots is to 'follow Smart Money,' and now Bitget is the world's largest cryptocurrency copy trading platform; as of June this year, over 100,000 traders have shared strategies on Bitget, and more than 490,000 users have copied their strategies."

ChainCatcher news, recently, YGG has led the GameFi sector, however, the heat of the track has been maintained for a short time. As a gaming guild concept, the projects most closely associated with YGG are Merit Circle and Guild Fi, but both of these projects have shown weak performance subsequently, with significant price spikes. Additionally, leading platform tokens such as GALA, MAGIC, and IMX have not seen significant capital inflows, indicating that this GameFi sector has not experienced a true recovery.Through on-chain data analysis by Bitget Research Institute, it was found that during the rise of YGG, DWF Labs, BITKRAFT Ventures, a certain whale, Youbi Capital, Sfermion, and Wintermute transferred 3.64 million, 1.57 million, 2 million, 1 million, 1.2 million, and 11.1 million YGG tokens to Binance, respectively.Regarding the future development of the GameFi sector, Gracy Chen stated: "We can maintain medium to long-term attention on the gaming sector. First, the gaming sector has undergone a long period of bottom washing, and the chips in the hands of retail investors have basically been collected by institutions. Secondly, institutions continue to invest; since the beginning of this year, over 90 gaming projects have raised funds, amounting to hundreds of millions of dollars. Finally, the Cancun upgrade will bring benefits; as the Cancun upgrade significantly enhances Layer 2 performance, it will facilitate the multi-chain deployment and operation of GameFi games. The improvement of infrastructure and performance may lead to capital speculation."

ChainCatcher news, Worldcoin recently announced its token launch. When several CEXs opened, the WLD token briefly priced around 1 dollar, followed by a rapid surge. According to Bitget, WLD peaked at 4.7 dollars for a short time, with an increase exceeding 1000%.The total supply of Worldcoin (WLD) is 10 billion, and based on fully diluted valuation (FDV), this project reached a peak valuation of 47 billion dollars. However, the WLD price subsequently plummeted, primarily due to flaws in the market-making terms and the tokenomics.Gracy Chen, General Manager of Bitget, stated: It is difficult for WorldCoin to maintain a high valuation in the long term. Firstly, there are flaws in the market-making terms. Market makers control over 96% of the circulating tokens, and their high stakes give them complete manipulation ability over the market, allowing them to dictate the price direction. Since their cost is between 2-2.8, with a support price of 2.8 dollars, any opening price above 2.8 is a profit opportunity for market makers to distribute tokens. Secondly, NFT holders were not airdropped tokens, which sparked public outcry. Thirdly, the release curve is too rapid, and the aggressive token release speed has led to excessive selling pressure. Finally, the project changed its token distribution plan; in 2021, Worldcoin allocated 20% of tokens to Tools for Humanity (TFH) investors and teams, which was later increased to 25%. In the revised tokenomics, more low-cost tokens will flow to the project parties and investors rather than the community.

ChainCatcher news, Bitget General Manager Gracy Chen shared her views on the future market at the third VIP private meeting. She first pointed out that while regulation is tightening, it will not completely suppress industry development. Once the cryptocurrency market reaches a certain scale and user base, it will drive the construction of relevant frameworks. Secondly, the Federal Reserve has slowed down its interest rate hikes in the first half of the year and will gradually enter a rate-cutting phase in the second half. Finally, she noted that the entry of traditional financial giants like BlackRock and Fidelity has brought positive signals to BTC spot ETF applications, which will bring more incremental funds to the market.In addition, more rights and benefits will be empowered to VIP users in the second half of this year, such as: priority subscription for Launchpad and fund shares, whitelist for staking and lending, Bitcard (digital currency Visa credit card), and private wealth management products in the fund supermarket (for VIP3 and above), etc.

ChainCatcher message, in July, the DeFi classic leading tokens experienced significant speculation. According to Coingecko data, the total market capitalization of DeFi sector projects rose from 46.3 billion USD at the end of June to a peak of 51.2 billion USD, an increase of 4.9 billion USD in market value;Bitget General Manager Gracy Chen stated: "The first reason for this round of DeFi sector rotation is the hype around the RWA narrative, as US Treasury yields have surpassed the risk-free yield of DeFi. On June 29, Compound founder Robert Leshner announced his entry into the RWA track, establishing a new company Superstate and bringing US Treasury bonds on-chain, which led to a rise of over 100% in the related project COMP. Secondly, with XRP winning the lawsuit against the SEC regarding whether it is a security, the fundamentals of DeFi classic leading tokens have improved significantly. The third reason is the new proposal from MakerDAO, which suggests the introduction of a smart burn mechanism, while AAVE officially launched the decentralized stablecoin GHO, and Synthetix updated to version V3. These product updates and actions have sparked market enthusiasm."

ChainCatcher news, Killer Whales is a television show co-produced by HELLO Labs and CoinMarketCap. Bitget Managing Director Gracy Chen confirmed her attendance on Twitter on June 21 and will serve as a judge for the Killer Whales reality show. The show combines Shark Tank (also known as The Pitch) and America's Got Talent into a Web3 Hollywood television program. It is expected to air in prime time on global television stations by the end of 2023.HELLO Labs was founded by Grammy-nominated Paul Caslin, and HELLO Labs CEO Sander Gortjes stated, "Gracy has extensive experience in global strategic management, and we are thrilled to have her on board to share her valuable insights with audiences worldwide." (Source link)