Bitget Token (BGB)

Bitget's exchange token, and the only one of the major venue tokens to have moved house: BGB is now the gas and governance token of Morph, a consumer-payments Ethereum layer 2, with quarterly burns calculated from Morph's own fee revenue rather than from exchange profits. That structural story collided with an acute one on September 24, when Bitget confirmed roughly $351.6 million drained from its hot and warm wallets — possibly the year's largest exchange breach — and paused withdrawals while pointing to a $464 million user protection fund.