Leverage Traders Got Smashed: Why Bitget Just Stood Out

Cryptoic · February 13

My buddy and I were talking about the recent market did on Feb 5–6 and how it was so brutal for crypto traders, a colleague of ours lost about 50% of her portfolio, it wasn't funny though.

Over $2.6B wiped out in a single day and yes, even 2–5× leverage positions got smashed. That's how and it got

But here’s the twist: Bitget just launched a $5M support fund for users via their westay programme that offers good ROI on low risk USDT staking.. Meanwhile, heavyweights like Binance, OKX, and Bybit? Nothing. Zip. Nada.

If you’re trading leverage, this is a wake-up call: not all exchanges have your back when the market crashes, I'm sure that's clear by now.

So… who do you actually trust to survive the next wipeout?

Henry · February 13

When even 2–5x positions get liquidated, you know it wasn’t a normal dip, it was a full-on flush. Stuff like that is exactly why I don’t rely on any exchange to “have my back.” A support fund sounds nice, but at the end of the day, risk is on you. Exchanges protect themselves first. I don’t park all funds on one platform, and assume another wipeout can happen anytime. Trust? I trust my own risk management more than any exchange PR move.