Lookonchain: Bitget has burned 220 million BGB and locked 220 million BGB in a new wallet.

Foresight News reported, according to monitoring by Lookonchain, BGB has undergone a major update, with 220 million BGB (worth approximately $1.09 billion) burned, and another 220 million BGB (worth approximately $1.09 billion) transferred to a new wallet for locking.

This move is related to the announcement of an exclusive strategic partnership between Bitget and Morph. Morph will adopt BGB as its gas and governance token, and the Morph Foundation will update the BGB burning mechanism, linking it to Morph network activity until the total supply of BGB is reduced to 100 million.