Latest news with #TransparencyReport
Barnama
5 days ago
- Business
- Barnama
Bitget's May Report Highlights 21% Increase In Futures Trading Volume Accelerating It To Top #3 Exchange
VICTORIA, Seychelles, June 16 (Bernama) -- Bitget, the leading cryptocurrency exchange and Web3 company, has released its May 2025 Transparency Report, highlighting growth in trading activity, product innovation, global expansion, and social impact despite a consolidating crypto market. In May, the total crypto market cap fluctuated from a high of $3.6 trillion to close at $3.28 trillion, with daily trading volume averaging $84.44 billion. Despite broader market consolidation, Bitget's trading volume surged by 21%, led by a 26% increase in futures trading. Spot trading reached $107 billion, ranking Bitget as the #3 crypto exchange globally by spot volume, just behind Binance and Bybit, and capturing an estimated 8.9% market share, according to Coingecko data.
Hamilton Spectator
13-06-2025
- Business
- Hamilton Spectator
Bitget's May Report Highlights 21% increase in Futures Trading Volume Accelerating it to top #3 exchange
VICTORIA, Seychelles, June 13, 2025 (GLOBE NEWSWIRE) — Bitget , the leading cryptocurrency exchange and Web3 company, has released its May 2025 Transparency Report, highlighting growth in trading activity, product innovation, global expansion, and social impact despite a consolidating crypto market. In May, the total crypto market cap fluctuated from a high of $3.6 trillion to close at $3.28 trillion, with daily trading volume averaging $84.44 billion. Despite broader market consolidation, Bitget's trading volume surged by 21%, led by a 26% increase in futures trading. Spot trading reached $107 billion, ranking Bitget as the #3 crypto exchange globally by spot volume, just behind Binance and Bybit, and capturing an estimated 8.9% market share, according to Coingecko data. Bitget added over 500,000 new users in May alone, contributing to more than 2 million new users in Q2 2025. Bitget also recorded an industry-leading 192% Proof of Reserves ratio, and its Protection Fund hit an all-time high of $725 million, reflecting a long-term commitment to transparency, asset security, and user protection. May was a milestone month for Bitget Wallet, which rebranded under the ' Crypto for Everyone ' identity and rolled out major upgrades. Key launches included Paydify integration for seamless LATAM fiat onramps, a ' Shop with Crypto ' marketplace for spending at 300+ global brands, and Bitget Wallet Alpha , a mobile-native hub for token discovery and one-click trading across 130+ blockchains. Bitget forged key partnerships to drive adoption and education, teaming up with Sweat to expand crypto access in Southeast Asia, and collaborating with Cryptita to launch a blockchain encyclopedia for youth , promoting early crypto literacy. Product rollouts this month included the highly anticipated launch of Bitget Live , a real-time streaming feature designed to empower creators and expert traders to share their insights directly on the platform. The exchange also unveiled BGUSD , a USDC-pegged stablecoin backed by tokenized real-world assets including US Treasuries. Bitget Wallet became the official wallet for LINE's Mini Dapp Portal , allowing LINE's 196 million users to access Kaia chain games and tools via Bitget. Bitget continued to expand its listing of new digital assets, welcoming RLUSD , Ripple's USD-backed stablecoin, to its platform. Bitget also listed Shardeum , a scalable, EVM-compatible Layer 1 blockchain, allowing users to access high-performance DeFi protocols and smart contract applications. The addition of USD1 , a stablecoin issued by World Liberty Financial and affiliated with the Trump family, signaled Bitget's commitment to onboarding digital assets that aim to bridge fiat and crypto for broader user adoption. In May, Bitget advanced its social impact efforts through its Blockchain4Youth program, which marked two years with over 8,000 participants and global outreach across 70+ countries. It also supported Google's ' Build With AI ' Hackathon, delivered emergency aid to earthquake-affected families in Myanmar, and expanded its Starlink Program in the Philippines to bring satellite internet to underserved islands, supporting long-term digital and blockchain inclusion. From its strong on-chain integrations to fiat-crypto innovation, Bitget continues to set new benchmarks in exchange trust, product utility, and real-world Web3 applications. Bitget's sustained momentum positions it as a key driver in the next phase of crypto evolution. For the full transparency report, visit here . 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. Bitget is at the forefront of 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. For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet For media inquiries, please contact: media@ 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
Economic Times
09-06-2025
- Business
- Economic Times
Digit Life Insurance FY25 revenue crosses Rs 1,300 crore in first full year of operations
Digit Life Insurance witnessed substantial growth in FY 2024-25. Its revenue surpassed Rs 1,315.9 crore. The company settled claims worth Rs 2.88 billion. Digit Life improved its claim settlement turnaround time to 1.89 days. The claim settlement ratio reached 99.53%. The company focuses on simplifying products and enhancing trust. Digit Life has served 6.7 million customers with over 4,000 agents. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Mumbai: Go Digit Life Insurance Limited ( Digit Life ), a new-age life insurance company, said its revenue (total gross written premium including reinsurance inward) crossed Rs 1,315.9 crore in FY 2024-25 compared to Rs 492.5 crore in the year-ago company settled claims worth Rs2.88 billion in FY 2024-25 with most claims (worth Rs1.97 billion) being paid under the Group Term Life Insurance category. Digit Life's average TAT of death claims settlement too, improved to 1.89 days during the year from 2 days in FY 23-24 with its claims settlement ratio for the same period hitting 99.53%.Digit Life shared the key figures as part of the second edition of its Transparency Report, a bi-annual exercise where it goes beyond mandatory disclosures and shares various data-led insights and stories.'We are encouraged by the response we have received in the last one year. We now have a robust portfolio of both retail and group products and will look to expand both segments equally in the coming years. We as a company will continue to focus on simplifying life insurance products and improving trust levels in the ecosystem—with the transparency report both as our report card and trust promise," Sabyasachi Sarkar, MD & CEO, Digit Life, company said it has developed a fully automated and secure verification process to identify and check declaration matches and built advanced face matching technology to verify the identity of its customers. It has also developed a claim document classification service that uses an intelligent process to quickly sort claims Life Insurance has served 6.7 million customers since its inception and now has over 4,000 agents and intermediaries. Its Solvency Ratio currently stands at Ventures LLP (promoted by Kamesh Goyal) and FAL Corporation (having Fairfax Financial Holdings Limited as its ultimate parent company) are the promoters of Digit Life Insurance. Fairfax Financial Holdings Limited is listed on the Toronto Stock Exchange in Canada.
Yahoo
06-06-2025
- Business
- Yahoo
New York judge halts Job Corps closings; 100 Milwaukee staffers spared for now
After thinking they were going to get laid off, staff members at the Milwaukee Job Corps Center might still have jobs after all, even though the U.S. Department of Labor announced it was cancelling contractor-operated centers. On June 4, U.S. District Judge Andrew Carter Jr. granted a temporary restraining order halting the Labor Department and Secretary Lori Chavez-Deremer from closing the facilities without congressional approval. The Job Corps center in Milwaukee, 6665 N. 60th St., is operated by Horizons Youth Services based in Virginia; it has about 100 staffers that could be affected by any changes. 'We were pleased and excited with the court's decision to grant the Temporary Restraining Order and that the closure of Job Corps Centers has been stopped," Nolyn Fueller, president of Horizons, said in a statement. "The students that we serve deserve and need the opportunities that Job Corps provides. I hope that the facts and figures contained in the Transparency Report are further reviewed and more accurate statistics are shared regarding the success and safety of Job Corps campuses. Job Corps positively changes lives.' On May 29, the Labor Department announced it was closing contractor-operated centers due to low graduation rates, high costs and safety issues. 'Job Corps was created to help young adults build a pathway to a better life through education, training, and community,' Chavez-DeRemer said in a statement at the time. 'However, a startling number of serious incident reports and our in-depth fiscal analysis reveal the program is no longer achieving the intended outcomes that students deserve. We remain committed to ensuring all participants are supported through this transition and connected with the resources they need to succeed as we evaluate the program's possibilities.' Sen. Tammy Baldwin, D-Wisconsin, has been a strong supporter of the Jobs Corps program and sent a letter to Chavez-Deremer on June 3 urging that the decision be reversed. After the court's June 4 ruling, Baldwin issued a statement: 'Gutting a program that is a proven way to connect Wisconsinites with careers and helps businesses and the trades get the skilled workers they need is a huge mistake. While students and employers are both left in the lurch about whether the training, housing, and support they were promised will continue, President Trump could stop this chaos if he just ended this crusade to make room in his budget for big corporate tax cuts, and instead prioritized Wisconsin working families and businesses.' The Milwaukee Journal Sentinel reached out to the Labor Department but has not received any comment. This article originally appeared on Milwaukee Journal Sentinel: New York judge halts Job Corps closings affecting 100 Milwaukee staff
Yahoo
02-06-2025
- Business
- Yahoo
Meta's Increasingly Relying on AI to Make Decisions About User Experience Elements
This story was originally published on Social Media Today. To receive daily news and insights, subscribe to our free daily Social Media Today newsletter. As highlighted by Meta CEO Mark Zuckerberg in a recent overview of the impact of AI, Meta is increasingly relying on AI-powered systems for more aspects of its internal development and management, including coding, ad targeting, risk assessment, and more. And that could soon become an even bigger factor, with Meta reportedly planning to use AI for up to 90% of all of its risk assessments across Facebook and Instagram, including all product development and rule changes. As reported by NPR: 'For years, when Meta launched new features for Instagram, WhatsApp and Facebook, teams of reviewers evaluated possible risks: Could it violate users' privacy? Could it cause harm to minors? Could it worsen the spread of misleading or toxic content? Until recently, what are known inside Meta as privacy and integrity reviews were conducted almost entirely by human evaluators, but now, according to internal company documents obtained by NPR, up to 90% of all risk assessments will soon be automated.' Which seems potentially problematic, putting a lot of trust in machines to protect users from some of the worst aspects of online interaction. But Meta is confident that its AI systems can handle such tasks, including moderation, which it showcased in its Transparency Report for Q1, which it published last week. Earlier in the year, Meta announced that it would be changing its approach to 'less severe' policy violations, with a view to reducing the amount of enforcement mistakes and restrictions. In changing that approach, Meta says that when it finds that its automated systems are making too many mistakes, it's now deactivating those systems entirely as it works to improve them, while it's also: '…getting rid of most [content] demotions and requiring greater confidence that the content violates for the rest. And we're going to tune our systems to require a much higher degree of confidence before a piece of content is taken down.' So, essentially, Meta's refining its automated detection systems to ensure that they don't remove posts too hastily. And Meta says that, thus far, this has been a success, resulting in a 50% reduction in rule enforcement mistakes. Which is seemingly a positive, but then again, a reduction in mistakes can also mean that more violative content is being displayed to users in its apps. Which was also reflected in its enforcement data: As you can see in this chart, Meta's automated detection of bullying and harassment on Facebook declined by 12% in Q1, which means that more of that content was getting through, because of Meta's change in approach. Which, on a chart like this, doesn't look like a significant impact. But in raw numbers, that's a variance of millions of violative posts that Meta's taking faster action on, and millions of harmful comments that are being shown to users in its apps as a result of this change. The impact, then, could be significant, but Meta's looking to put more reliance on AI systems to understand and enforce these rules in future, in order to maximize its efforts on this front. Will that work? Well, we don't know as yet, and this is just one aspect of how Meta's looking to integrate AI to assess and action its various rules and policies, to better protect its billions of users. As noted, Zuckerberg has also flagged that 'sometime in the next 12 to 18 months,' most of Meta's evolving code base will be written by AI. That's a more logical application of AI processes, in that they can replicate code by ingesting vast amounts of data, then providing assessments based on logical matches. But when you're talking about rules and policies, and things that could have a big impact on how users experience each app, that seems like a more risky use of AI tools. In response to NPR, Meta said that product risk review changes will still be overseen by humans, and that only "low-risk decisions" are being automated. But even so, it's a window into the potential future expansion of AI, where automated systems are being relied upon more and more to dictate actual human experiences. Is that a better way forward on these elements? Maybe it will end up being so, but it still seems like a significant risk to take, when we're talking about such a huge scale of potential impacts, if and when they make mistakes. Recommended Reading Meta Expands Meta Verified Paid Checkmark Subscription Program to Indian Users
