Comment: See Wikipedia's referencing for beginners. Dan arndt (talk) 07:32, 18 December 2023 (UTC)

Brief Introduction:
Bitrue Inc., known as Bitrue (Be-True, phonetically), is a Singaporean headquartered digital asset and derivatives exchange. Founded in 2018, Bitrue is an international centralized cryptocurrency exchange and management platform. Bitrue has 10 million registered users, and a daily spot market in excess of $1bn per day and $3bn in futures, according to coin market cap data.
Type: Private
Industry: Asset Management, Cryptocurrency, Financial Services
Founded: July, 2018
Headquarters: Singapore
Key People: Emma Li (CMO), Anchit Goal (Head of Partnerships)
Area served: Mainland Europe, Middle East, and Asia
Products: Digital assets, Trading, Bitcoin, Ethereum, Cardano, XRP (Ripple), exchange of digital assets
Number of Employees: 250 (2022)
Website: www.bitrue.com
History
In July 2018, Bitrue was founded in Asia enabling trading of only 5 cryptocurrencies when it launched. Over time, it has grown to 10 million registered users. In 2019, the CEX suffered a $5 million hack, but compensated all effected users in full.
In 2021, Bitrue become the first exchange to support native assets on the Cardano ecosystem, and an ERC-20 token on Ethereum. Bitrue also launched a specialist derivative contract to provide investors with increased exposure to an underlying asset’s performance without the complexities of managing a margin trade.
In 2022, Bitrue open-sourced its Cardano integration code, allowing other exchanges to set up more easily and contribute to the collective development of the ecosystem.
In April 2023, Bitrue suffered a $23million hack, which was resolved swiftly and less than 4% of assets housed by the exchange were exposed to the hack – effected investors were compensated by insurance funds Bitrue has. After a 48hr suspension of withdrawals to ensure all security measures were soldi, withdrawals were reinstated.
Bitrue launched an auto-invest feature, and announced plans for more wealth management and automated investment solutions on the platform,
Products
Bitrue offers products and services for both retail and institutional digital asset investors, including:
Bitrue, an app used to buy, store and trade cryptocurrencies.
Bitrue.com, trading platform for trading digital assets across 550 altcoin coins such as Bitcoin, Ethereum, Litecoin, Cardano, XRP ripple, Dogecoin, USDT, Luna, and Polygon (Matic).
Pairs trading (1,584 spot trading pairs).
Futures trading (170 pairs).
Exchange traded funds of underlying digital assets protocols across layer 1 and layer 2, as well as those focused on sector specific, asset backed “stable coins”, and geographic focused ETFs.
Asset-backed, decentralised, and peer-to-peer lending
XRP Focus (Sub heading under products)
Bitrue supports XRP as a base currency and has been industry advocate for the project since first listing in 2019. Bitrue is one of the largest exchanges for trading XRP
Bitrue Coin (BTR)
Bitrue Coin (BTR) is the native asset on the Bitrue exchange. More on this to follow.
Operations
The firm maintains a presence in Singapore, Hong Kong, Indonesia, Poland, and Malaysia, and employs 250 staff across marketing & PR, finance, technology, product, operations, listings, legal, and partnerships.
Sponsorship and advertising
To date, Bitrue’s sponsorship activities have concentrated on industry specific conferences such as Cardano Summit, Nordic Blockchain Summit, and Token2049. In 2023, Bitrue was offered the opportunity to sponsor Haas Formula One (link) for the 2024 F1 Season. The company has announced plans to sponsor additional events, research into digital economies and blockchain, and sport.
Bitrue Ventures
Bitrue Ventures, the venture capital arm of Bitrue, is a separate legal entity that invests in web3, altcoins, gamefi, blockchain technology, and digital wealth management. Existing investments include decentralised exchange (link) Wingriders and lending business Liqwid. Bitrue Ventures has $50m in dry powder.
Background Information
Media coverage
"Bitrue launches new community owned, ecosystem-driven and highly secure crypto exchange." PRNewswire, 26 Jul. 2018, Bitrue launches new community owned, ecosystem-driven and highly secure crypto exchange
Wang believes that instead of just thinking about how to make money from listing fees, exchanges should strictly review ICO applicants to help users identify good currencies from bad ones.
SMEStreet Desk. "BITRUE LAUNCHES HIGHLY SECURE CRYPTO EXCHANGE." SMEStreet India, 30 Jul. 2018, Bitrue Launches Highly Secure Crypto Exchange
Commenting on its launch in India Bitrue CEO Curis Wang said “The Indian market for cryptocurrency has been growing steadily with the last recorded number of users being around 6 lakhs. Bitrue’s third largest user base is in India. We will do our best to serve our current users and help Indian cryptocurrency investor’s trade securely on our platform.”
Fintech News Desk. "Building on the XRP Ledger and Beyond – FinNexus & Bitrue Burst Into DeFi." Global FinTech Series, 28 Apr. 2020, Building on the XRP Ledger and Beyond - FinNexus & Bitrue Burst Into DeFi
“Innovation has always been at the heart of Bitrue, from the introduction of our Power Piggy product that gives ordinary investors a chance to earn while they sleep, to our adoption of XRP as a base currency, we’re always on the lookout for new ways to bring value to our users. We’re excited to be working on yet another cutting edge and unique financial product,” said Curis Wang, CEO of Bitrue.
Team Ripple. "Bitrue Reaps the Rewards of Putting XRP at the Center of its Digital Assets Platform." Ripple, 13 May 2020, Bitrue Reaps the Rewards of Putting XRP at the Center of its Digital Assets Platform | Ripple
"For any blockchain project to be successful, it has to be practical and scalable," explained Co-founder and CEO, Curis Wang. Bitrue CEO Curis Wang: "XRP's role in solving problems with cross-border payments is a perfect use case that will drive growth, which is why Bitrue decided to make it the central asset of our exchange".
CoinEdition. "Cryptocurrency Exchange Bitrue Exceeds 4 Million Registered Users as XRP Trades at Multi-Year Highs." Investing.com, 13 Apr. 2021, Bitrue Pushes Past 4 Million Registered Use
“Amid the latest $XRP bull run the Bitrue platform has been reaching its own all time highs,” Bitrue said in a tweet.
Avan-Nomayo, Osato. "Bitrue floats $50M cryptocurrency investment fund." Cointelegraph, 12 May 2021, Bitrue floats $50M cryptocurrency investment fund
Commenting on the company’s selection plans to determine worthy recipients, Adam O’Neill, CMO of Bitrue, said, “We will be carefully selecting projects that we deem have an appreciable chance of becoming successful or have some form of significant value. In this way, we hope that more entrepreneurs will be able to change the world through blockchain technology.”
Olowoporoku, Muhaimin. "How Bitrue crypto exchange is emerging as one of the top crypto firms." Cryptopolitan, 13 Sept. 2021, Bitrue crypto exchange emerging as top crypto firm
O’Neill stated that despite being 3-years old, the exchange platform has come a long way by delivering quality services and functionalities to benefit the growing number of users, mostly crypto trading enthusiasts with a keen interest in DeFi, loans, staking, and weekly new coin listings.
Sopov, Vladislav. "Bitrue floats $50M cryptocurrency investment fund." UToday, 24 Mar. 2022, Crypto Exchange Bitrue Chooses BTR as its Newest Basic Currency
Adam O’Neill, chief marketing officer at Bitrue, stresses that BTR is a pivotal element of tokenomics of his product since the very first days of its mainnet operations. “Since its launch in 2019, BTR has been at the heart of everything that we have worked on at Bitrue. For three years our primary goal has been to add extra utility to this coin, which we have achieved through regular feature launches and upgrades which have led to consistent growth even in turbulent market conditions.”
Ashmore, Dan. “Interview: Cryptocurrency exchange Bitrue launch new BMAX token.” Coin Journal, 20 Apr. 2022, Interview with Bitrue following the launch of their new token, BMAX
CMO Adam O’ Neill says, “by utilizing BMAX as a reward token we will be eliminating the problems currently present in staking and DeFi rewards programs, such as the risks of theft.”
Gogo, Jeffrey. "Crypto Crash: Could Bitcoin Ever Drop Below Zero Like What Happened With Oil?" BeInCrypto, 23 Jun. 2022, Crypto Crash: Could Bitcoin Ever Drop Below Zero Like What Happened With Oil? - BeInCrypto
“Suggesting the bitcoin price could go to zero…is almost unthinkable,” said Whitney Setiawan, a research analyst at crypto exchange Bitrue. “Its supply is not affected by the bureaucracies of the current global supply chain. Crude oil supply is almost infinite and this can impair how much one is willing to pay, which can lower its price.”
Owie, Best. "How Crypto Exchanges Are Handling The Bear Market, Bitrue CMO." Cointelegraph, 12 Jul. 2022, How Crypto Exchanges Are Handling The Bear Market, Bitrue CMO | Bitcoinist.com
CMO, Adam O' Neill says, "The key to survival in a bear market is preparation. For anyone in the crypto industry for a while, we now know that the markets go through periods of prolonged growth followed by sharp retractions, generally following the price trend of BTC. At Bitrue, we’ve been careful not to overextend ourselves, we minimize our exposure to risky debt and other factors that have killed off some of the big names in the last few months."
Bitcoin Insider. "How Crypto Exchanges Are Handling The Bear Market, Bitrue CMO." Bitcoin Insider, 26 Jul. 2022, Bitrue’s Fourth Anniversary Marked By Investments & Optimism | Bitcoin Insider
"It's an incredibly exciting time to be a company operating in the crypto space," said Adam O'Neill, Chief Marketing Officer at Bitrue. "Despite the current bearish sentiment, we continue to see an uptick in new users as well as professionals shifting their career to be crypto-oriented. As an established player in the field with a wide range of industry connections, we believe we are poised to become a world-class, tier 1 platform within the next year."
Vardai, Zolton. "All aboard the good ship Ethereum for The Merge. Next stop?" Forkast, 13 Sept. 2022, All aboard the good ship Ethereum for The Merge. Next stop?
Whitney Setiawan, a research analyst at Bitrue crypto exchange in Singapore, said The Merge will make Ether a more decentralized and sustainable coin, while opening up the way for more scalability on the network and price action. “The Merge lays a better foundation for Ethereum to secure its position as a market leader in the long run, and thus allowing it to possibly reach much higher prices in the future,” said Setiawan.
Whittaker, Matt. "Top 10 Altcoins Of 2022". Forbes, 16 Sept. 2022, 10 Best Altcoins Of November 2022 – Forbes Advisor
Solana is one of the fastest blockchains out there. Still, it has also faced criticism for being too centralized with very few validating nodes compared with Ethereum, says Whitney Setiawan, research analyst with digital assets exchange Bitrue.
Gail, Elizabeth. "Global inflation mounts: How stablecoins are helping protect savings". Cointelegraph, 16 Sept. 2022, Global inflation mounts: How stablecoins are helping protect savings
"Whitney Setiawan, a research analyst at the Bitrue crypto exchange, told Cointelegraph, “With the U.S. dollar recording steep appreciation against other fiat currencies, most crypto-savvy users have a special interest in holding stablecoins.”
Cryptured Team. “Bitrue Keeps Supporting XRP, Recognizes Potential Where The Market Sees Red.” Cryptured, 11 Oct. 2022, Bitrue keeps supporting XRP, recognizes potential where the market sees red. - Cryptured.com
‘Ever since the birth of Bitrue in 2018, XRP has been one of the core pillars supporting the exchange’s growth. It helped us rise as the most trusted exchange for millions of traders worldwide. Our communities are closely intertwined, so we will keep providing XRP trading, investments, and more,’ commented Adam O’Neill, Bitrue’s CMO.
“Exclusive Interview With Bitrue’s Research Analyst Whitney Setiawan on Bitcoin, Fed Policies, and Crypto Bull Run Prospects.” CoinCodex, 16 Oct. 2022, Exclusive Interview With Bitrue’s Research Analyst Whitney Setiawan on Bitcoin, Fed Policies, and Crypto Bull Run Prospects | CoinCodex
Whitney Setiawan, a research analyst says, “Based on our research, any sign of inflation slowing down or worsening economic conditions would spark a bull run, as investors would assume the probability of a Fed pivot or another round of loose monetary policy.”
Gogo, Jeffrey. “Portfolio Stabilization: Managing Stablecoins in the Face of Market Turmoil”. BSC News, 24 Oct. 2022, Portfolio Stabilization: Managing Stablecoins in the Face of Market Turmoil
However, Bitrue’s Christian told BSC News that the yield is indeed worth going after, saying investors should “try every conceivable way to earn the highest possible return on their investment portfolio.”
Brown, Albert. “Bitrue Confirms It Holds 41M XRP as Insurance Funds” The Crypto Basic, 9 Nov. 2022, Bitrue Confirms It Holds 41M XRP as Insurance Funds
“Bitrue has always prioritized the safety and security of our user assets. We are the first crypto exchange to establish an insurance fund to safeguard your assets,” the exchange remarked in a tweet Wednesday amidst the FTX insolvency saga.
Merchant, Murtuza. "The FTT Debacle: Want To Cash In? Here's What Experts Said After Binance Selloff." Bezinga, 14 Nov. 2022, The FTT Debacle: Want To Cash In? Here's What Experts Said After Binance Selloff - BNB (BNB/USD), Cardano (ADA/USD) - Benzinga
Bitrue analyst Whitney Setiawan says FTT holders do not want to be caught in the cross-hairs of the feud between Zhao (CZ) and FTX chief Sam Bankman-Fried (SBF). It is likely that most traders don't want fear, uncertainty, and doubt, or FUD, by withdrawing their funds.
Gogo, Jeffrey. “A Bizarre Fairy Tale: The Story Behind Sam Bankman-Fried and Caroline Ellison.” BeInCrypto, 23 Nov. 2022, A Bizarre Fairy Tale: The Story Behind Sam Bankman-Fried and Caroline Ellison
CSO of Bitrue, Robert Quartly-Janeiro, says cryptocurrency exchanges are the primary gateway through which investors get to enter the digital currency ecosystem. Investors with larger portfolios are likely to embrace more of self custody than hot wallet storages that crypto exchanges offer. Retail holders are more poised to keep assets on exchanges in the long run.
Jagati, Shiraz. "FTX’s collapse could change crypto industry governance standards for good." Cointelegraph, 25 Nov. 2022, FTX’s collapse could change crypto industry governance standards for good
CSO of Bitrue, Robert Quartly-Janeiro, says that blockchain-based technologies are doing their part in redefining transactions. People cannot trust their money in other people's hands like exchanges, except when they are regulated with proof of insured funds. Liquidity can be an issue in any asset class.
Insurance funds
https://bithomp.com/explorer/rNYW2bie6KwUSYhhtcnXWzRy5nLCa1UNCn[11]
https://etherscan.io/address/0xf306f253dc042d88f83a49003a931c45b8e6f184 [12]
Partnerships
Bitrue has built and maintains partnerships with a variety of other companies, cryptocurrencies, and gaming providers
Bitrue becomes the first exchange to support native assets on Cardano through OCCADA listing
Bitrue Adds Cardano's ADA Token as a Base Pair with Additional Pairs Such as ETH, SOL, And SHIB to Follow
Bitrue Delegates 1,000,000 ADA to 1LOVE Staking Poo
Bitrue - golang library for Cardano network.
Bitrue Partner with Unicorn Ventures
Bitrue Ventures Invests In Land of Conquest - 블록스트리트
Bitrue Partners with GotBit
Bitrue Partners With Polygon Studios To Power Blockchain Gaming
Bitrue Partners With Crowd Fund Junction
Bitrue Partners with OceanEx and How the Crypto Community Stands to Benefit | CryptoGazette
Hacken AI HAI Can Now Be Bought With Credit Cards – Bitrue FAQ
Building on the XRP Ledger and Beyond - FinNexus & Bitrue Burst Into DeFi
Bitrue and Occam.fi Bring IDO Partners to the Masses
Bitrue Now Supports Polygon MATIC Mainnet