Latest news with #JohannEid
Toronto Star
2 days ago
- Business
- Toronto Star
Bitget Boosts Trust with Chainlink Proof of Reserve
VICTORIA, Seychelles, Aug. 20, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has announced the adoption of Chainlink Proof of Reserve on Ethereum to provide real-time transparency for its wrapped Bitcoin asset, BGBTC. This collaboration also supports the growing use of BGBTC within BitVault Finance's DeFi yield strategies and lending products, enabling both retail and institutional participants to engage with the asset knowing its backing is continuously monitored and verifiable. As blockchain technology reshapes how trust is established in financial markets, Bitget and Chainlink are working together to ensure that proof is not just promised, but provable. 'Transparency is essential in the digital asset industry,' said Gracy Chen, CEO of Bitget. 'By adopting Chainlink's industry-leading Proof of Reserve, we're giving our users and institutional partners the assurance they deserve, knowing that BGBTC is always verifiably backed. This is another step in our mission to deliver secure, transparent, and innovative products for the Web3 space.' ARTICLE CONTINUES BELOW Chainlink Proof of Reserve leverages decentralized oracle networks to autonomously verify the reserve balances backing tokenized assets. By publishing onchain data that reflects real-world asset reserves, Chainlink ensures that BGBTC's backing can be independently audited at any time without relying on manual disclosures. 'Chainlink Proof of Reserve, the industry standard, offers real-time monitoring, enabling users to independently verify asset collateralization, and bringing increased transparency and trust to onchain products. We are excited about Bitget's integration of Chainlink Proof of Reserve to back its BGBTC, establishing a robust framework that fuels the ongoing expansion of DeFi,' said Johann Eid, Chief Business Officer, Chainlink Labs. The adoption of Chainlink Proof of Reserve reinforces Bitget's commitment to setting a higher standard for transparency and trust in the digital asset industry. Complementing its existing Proof of Reserve and industry-leading Protection Fund, this integration ensures users can trade with greater confidence, knowing their assets are backed and verifiable in real time. Together, these measures cement Bitget's position as a security-first exchange, dedicated to safeguarding user interests in an evolving market landscape. About Bitget Established in 2018, Bitget is the world's leading cryptocurrency exchange and Web3 company. Serving over 120 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a leading non-custodial crypto wallet supporting 130+ blockchains and millions of tokens. It offers multi-chain trading, staking, payments, and direct access to 20,000+ DApps, with advanced swaps and market insights built into a single platform. ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW Bitget is driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World's Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency. Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. In the world of motorsports, Bitget is the exclusive cryptocurrency exchange partner of MotoGP™, one of the world's most thrilling championships. For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet For media inquiries, please contact: media@ About Chainlink Chainlink is the backbone of the blockchain industry, the global standard for connecting blockchains to real-world data, other blockchains, governments, and enterprise systems. Chainlink has enabled tens of trillions in transaction value across the blockchain economy, powering critical use cases across DeFi, banking, tokenized real-world assets (RWAs), cross-chain, and more. Chainlink is widely adopted by major financial market infrastructures, institutions, and top DeFi protocols, including Swift, Euroclear, Mastercard, Fidelity International, UBS, ANZ, Aave, GMX, Lido, and many more. Learn more by visiting Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use. A photo accompanying this announcement is available at
Yahoo
05-08-2025
- Business
- Yahoo
LINK Rebounds 4% as Chainlink Roll Outs Data Streams for U.S. Equities and ETFs
The price of LINK (LINK), native token of oracle provider Chainlink, climbed 4% on Monday extending its rebound from late last week's crypto carnage. The token hit $17 during the session, up nearly 10% from the weekend lows, CoinDesk data shows. The move occurred as Chainlink rolled out market data feed for U.S. Equities and ETFs, aiming to connect traditional financial instrument with on-chain capital markets. Chainlink Data Streams now provide "real-time, high-throughput pricing" for assets such as SPY, QQQ, NVDA, AAPL, MSFT, and other instruments across 37 blockchain networks, according to a blog post. The feature enables use cases such as tokenized stock trading, perpetual futures and synthetic ETFs on blockchain rails. Invest in Gold American Hartford Gold: #1 Precious Metals Dealer in the Nation Priority Gold: Up to $15k in Free Silver + Zero Account Fees on Qualifying Purchase Thor Metals Group: Best Overall Gold IRA Solana-based DeFi protocol Kamino and decentraliized perpetuals trading venue GMX have already started using the service, according to the post. "This is a significant leap forward for tokenized markets — closing a critical gap between traditional finance and blockchain infrastructure," Johann Eid, Chief Business Officer at Chainlink Labs, said in the post. LINK exhibited remarkable bullish performance throughout the 24-hour trading session, climbing from $16.16 to $16.87 and delivering a substantial 4.39% gain, according to CoinDesk Research's technical analysis model. The persistent upward momentum, distinguished by progressively higher lows and consistently above-average volume during rally phases, indicates sustained bullish market sentiment with strong potential for additional gains targeting the $17.00 psychological threshold, the model said. Normal support established at $16.11 representing the initial session low during the 24-hour period. High-volume support confirmed at $16.29 during the midnight UTC surge with significant trading activity. Key resistance formed at $16.87 with strong volume confirmation and multiple test attempts. Volume spike to 1,533,754 units during the 4 August 13:00 hour, nearly triple the average volume. Breakout pattern confirmed from $16.65 to $16.83 establishing critical resistance turned support level. Higher lows pattern maintained throughout the rally indicating sustained bullish momentum. Volume confirmation above 30,000 units during key rally phases supporting upward price action. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
