Tag: Bybit

Ho Kai Xin, a former payroll manager at Bybit, has been reportedly sentenced to nine years and 11 months in prison for embezzling approximately $4.2 million from the exchange’s coffers. According to The Straits Times, the 32-year-old Singaporean was convicted of cheating, money laundering, and providing false information to authorities. ...

Bybit has introduced cmETH, a new liquid restaking token to improve Ethereum staking opportunities. To celebrate its launch, Bybit offers a limited-time 6% APR bonus for users who mint and hold cmETH via its On-Chain Earn service. The cmETH, developed by Mantle Network with the mETH Protocol, enables users to ...

The options markets of both Bitcoin and Ethereum are showing divergent trends, according to crypto exchange Bybit. In its latest crypto derivatives report, the crypto reported that Bitcoin's open interest began rebalancing after December's option expirations, while Ethereum saw rising demand for call options. It noted that this divergence between ...

Bybit has announced Xterio (XTER) as its latest Launchpad project.  Xterio is an AI-driven blockchain gaming platform built on the Layer 2 OP Superchain and has raised over $80 million in funding, with support from major backers, including Binance Labs, Makers Fund, and DST Global Partners. The platform is designed ...

Bybit is making strides in the Brazilian market by introducing the physical Bybit Card. Brazilian users can now pre-register for the card and enjoy free issuance for a limited time. The launch follows the success of the virtual Bybit Card, which has been available since September 2024 and currently serves ...

The Netherlands' central bank, De Nederlandsche Bank, has imposed a €2.2 million ($2.4 million) fine on Bybit for providing crypto services in the country without proper registration. The penalty addresses Bybit's non-compliance with regulations aimed at preventing money laundering and terrorist financing. According to the Bank, the €2.2 million fine ...

A new report has indicated that Binance and Crypto.com are losing market share to smaller competitors as decentralized exchanges (DEXs) gain popularity. Binance, the largest cryptocurrency exchange globally, saw a 13% drop in spot trading volume over the past year, declining from 52.5% in October 2023 to 39.5% in October ...

Bybit received provisional approval from Dubai’s Virtual Assets Regulatory Authority (VARA) in September 2024. The approval covered virtual asset exchange services for retail, qualified investors, and institutional clients. However, it was a non-operational approval, meaning Bybit could not start offering those services under the approval until it completed the remaining ...

Bybit has officially expanded its operations to Argentina as a licensed “Virtual Asset Service Provider (VASP) and card operator.” The crypto exchange announced that its VASP license, granted by Argentina’s Financial Intelligence Unit (FIU), will enable it to offer its full range of products in the region. Argentine crypto traders ...

ByBit has announced that it is ceasing operations in France due to recent regulatory actions by French authorities. Effective August 2, the company will restrict French users' accounts to "close-only" mode, preventing new positions or deposits. Users in France have been instructed to close all open positions and withdraw their ...