Bitget Transfers Entire BGB Token Supply to Morph Foundation, Redefining Governance

Bitget has made a significant shift in its token governance by transferring its entire 440 million BGB token treasury to the Morph Foundation. This move removes Bitget’s control over the token and positions BGB as the central asset of the Morph Layer-2 network’s ecosystem. The transfer involves immediate burning of half the tokens, followed by a gradual release of the remaining tokens for ecosystem growth. This signifies the transition of BGB from an exchange-bound token to a utility token with a broader role in facilitating on-chain finance.