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Cryptocurrency exchange Bitget has completed the destruction of 30,001,053.1 BGB tokens worth approximately $138 million during the second quarter of 2025. The burn represents 2.56% of the total supply and brings the total tokens destroyed in the first half of 2025 to over 5% of BGB's total supply.
BGB has been among the top-performing centralised exchange tokens in 2025, maintaining high rankings in trading volume and market capitalisation. The token serves multiple functions within the Bitget ecosystem, including staking, fee discounts, Launchpad access, and exclusive campaign eligibility across the platform's 120 million users.
The quarterly burn mechanism operates as an automated programme that removes circulating tokens based on revenue performance and BGB usage across the platform. This structured approach reflects both the exchange's growth trajectory and increasing transactional demand for the native token.
As Bitget expands into new regions and product verticals, including AI-powered trading and Launchpool innovations, BGB's utility continues to grow across the platform's infrastructure. The token functions as what the company describes as the pillar of support for user incentivisation and liquidity across various products.
Gracy Chen, Chief Executive Officer of Bitget, said: "BGB has become one of the most attractive and best-performing CEX tokens. Its utility and growth have been indicators of its potential. With every burn, we invest in BGB's future that's driven by its strong community and growth."
The token burn mechanism is designed to reduce total supply and build long-term holder confidence by decreasing inflationary pressure. This creates what the company describes as a more favourable environment for price support and ecosystem maturity, with burn volumes expected to increase as the platform grows.
Bitget is a cryptocurrency exchange and Web3 company established in 2018, serving over 120 million users across 150+ countries and regions. The platform offers copy trading features and other trading solutions, alongside real-time access to cryptocurrency prices. The company also operates Bitget Wallet, formerly known as BitKeep, which supports 130+ blockchains and millions of tokens.
The exchange maintains strategic partnerships including its role as Official Crypto Partner of LALIGA in Eastern, Southeast Asian and Latin American markets, and partnerships with Turkish national athletes Buse Tosun Çavuşoğlu (wrestling world champion), Samet Gümüş (boxing gold medallist) and İlkin Aydın (volleyball national team).
