Bitget's Retail Promise Is Being Tested — And ZachXBT Has Questions

 


Bitget CEO Gracy Chen made headlines this week with a post promoting UEX, a product she described as giving ordinary traders access to the kind of assets — pre-IPO stocks, precious metals, global equities — that were previously locked behind venture capital doors. The pitch was sharp. The timing was complicated.

On-chain investigator ZachXBT responded directly. He reminded the community that Bitget promised an investigation into RAVE, a token that surged over 5,000% before collapsing in what ZachXBT and on-chain data described as a supply-controlled squeeze by insiders. That promise was made exactly one month ago. No public compliance update has appeared since.

The RAVE case involved wallets tied to the token's deployer pre-loading the exchange before the price moved. When the short squeeze played out, retail traders holding shorts on Binance absorbed most of the damage. Liquidations hit $30.6 million in a single day. ZachXBT also listed RIVER, SIREN, and LAB as carrying similar manipulation patterns, with LAB prompting a separate $10,000 bounty investigation.

The question this raises for any retail trader considering Bitget's Prime IPO offering is a fair one: can an exchange credibly position itself as a retail-first platform while unresolved manipulation investigations sit in its compliance queue? Chen's framing of the meme cycle as a trap is not wrong. The charts she shared, showing TRUMP, Melania, and AIXBT all giving back nearly everything they ever gained, are accurate.

But the counter-narrative ZachXBT is building is equally documented. The full breakdown of both sides is covered in detail at CryptoNewsLive.org, where the sourcing goes directly to on-chain data and named posts rather than unnamed commentary.

CryptoNewsLive.org covers crypto exchange accountability, price analysis, and on-chain investigations sourced from primary data. Visit the site for the full article and sourcing. cryptonewslive.org

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