Bybit will cease withdrawal and custody services for French users by Jan. 8, 2025, amid increased regulatory pressures.
In an interview, Bitget CEO Gracy Chen surveys the geopolitics of the crypto exchange landscape, including contested territories like Nigeria, Russia and India.
Bybit’s November market report points toward Ethereum gaining traction as Bitcoin dominance fades.
Bybit, Bitget and OKX combined have 877,000 daily active users in the U.S., data from Sensor Tower shows. It's unclear if they are just checking prices, or trading in violation of the rules.
SUI has seen notable interest from investors and traders as the project has attracted a substantial influx of liquidity in the midst of rising market sentiment, underlining the growing confidence towards the crypto asset. This capital rise has increased trading activity and broadened the asset’s availability on many exchanges, indicating that the market is confident […]
The Nigerian government has dropped charges against a Binance exec, Ripple has filed an appeal, FTX settled with Bybit, and Denmark moves to tax unrealized crypto gains.
The costly meltdown of global exchange FTX is still settling big chunks of its bankruptcy drama, now securing about $228 million from Bybit to further feed the cash dispersal that was approved in court earlier this month.
The prices of Bitcoin and other digital assets were significantly lower during the 2022 collapse of FTX compared to current market prices.
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
Indian crypto exchange WazirX has disclosed its proof-of-reserves (PoR) report, showing that over 40% of customer assets are stored on third-party exchanges, according to an Oct. 25 statement. The exchange said its PoR dashboard aims to promote transparency by enabling independent verification of its wallet addresses, which include the precise holdings for each asset. WazirX’s […]
The post WazirX reveals 40% customer assets held on third-party exchanges amid transparency push appeared first on CryptoSlate.
Singaporean cryptocurrency exchange Fairdesk has unveiled plans to wind down its operations in the coming month. This move comes as a surprise, as there had been no prior indications of difficulties facing the platform. However, it aligns with a broader trend of exchanges shutting down amid increasingly strict crypto regulations imposed by national authorities. Related […]
Ethena’s synthetic stablecoin USDe can benefit from incorporating UStb during periods of weak funding conditions, Ethena Labs said.
Bybit launches Shariah-compliant crypto account, targeting Muslim investors seeking investment options in line with Islamic finance principles.
Bitcoin is trending higher at spot rates, floating above $60,000 and confirming gains of September 13. From price action in the daily chart, buyers appear to be back in the picture. The confidence follows the United States Federal Reserve’s (Fed) decision to slash rates by 50 basis points on September 18. Over $21 Billion Of Shorts To Be Liquidated If Bitcoin Breaks $70,500 While buyers double down, flocking back to BTC, looking at the sharp uptick in trading volume over the past day, one analyst on X has identified an interesting observation if bulls continue to dominate. Citing market data and the liquidation map of Binance perpetuals, the analyst said if Bitcoin flies above $70,500, over $21 billion of shorts will be liquidated. Liquidation happens in the perpetuals market where leverage traders aim to clip market volatility for profit. There are longs, or traders banking on bulls to press prices higher, and shots, betting for prices to drop. Related Reading: October To Remember: Descending Broadening Wedge Says Bitcoin Is Going To $90,000 These positions are leveraged in both instances, meaning they borrow funds from the exchange. The collateral, in this case, the margin, acts as an “insurance” for the exchange. As a result, they will forcefully sell it should the market move against the trader. Looking at the state of price action in the daily chart, Bitcoin needs to expand by around 11% from spot rates of $70,500 to be hit. The immediate liquidation level is at around $66,000, marking August highs. If this level is broken, and the leg up is rising trading volume, the resulting rally could easily be the basis for bulls to overcome the intense liquidation pressure of around $70,000 and $72,000. The $70,000 And $72,000 Resistance Zone Is Crucial For BTC Traders Bitcoin bulls have struggled to break $72,000 since the retest in June. Accordingly, any firm and decisive close above $70,000 can trigger a short squeeze. Therefore, it is highly likely that BTC may retest $73,800 and even print print fresh all-time highs. Related Reading: Cardano Goes Bullish On-Chain: Can ADA Price Catch Up? Coinglass data on September 19 shows that over $69 million of leveraged shorts have been liquidated in the last 24 hours. Meanwhile, more than $13 million worth of longs were also forcibly closed due to market volatility. Over 66,000 crypto traders were liquidated in the past day, and the largest leveraged BTCUSD position worth over $8.9 was closed on Bybit, a perpetuals trading platform, during this period. Feature image from DALLE, chart from TradingView
The Virtual Asset Regulatory Authority (VARA) has granted Bybit a non-operational license to serve retail and institutional crypto investors in Dubai.
The volume of crypto liquidations from exchanges could be vastly underreported, a senior researcher from K33Research noted on X. Vast Underrepresentation Of Crypto Liquidation Data According to a series of posts on X by Vetle Lunde, a senior researcher at K33 Research, liquidation volume data shared by leading digital assets exchange might be severely underreported. […]
Three major crypto exchanges teased the launch of new Solana-based products. The trading platforms shared mysterious hints on their official X accounts, suggesting their entry to Solana’s Liquid Staking ecosystem. The news received a positive reaction from the crypto community, seemingly fueling a bullish sentiment among SOL investors. Related Reading: TON-Based Memecoin DOGS Becomes Top 100 Largest Gainer With 30% Jump Exchanges Hint At New Solana-Based Products On Thursday, crypto exchanges Binance, Bybit, and Bidget created a buzz among crypto investors after hinting at the launch of new Solana-based products. Binance, the largest crypto exchange by trading volume, was the first to announce the mysterious partnership with two X posts stating “BNSOL,” and “Coming soon.” The crypto community quickly speculated about the meaning of the post, wondering about the collaboration. Soon after, Bybit and Bitget posted similar messages. Bybit stated it was “welcoming a new baby to the family” named bbSOL, while Bitget teased that “something BG is coming #BGSOL.” Despite not having further details, the community concluded the exchanges will launch Liquid Staking Tokens (LSTs), based on Sanctum’s comments. The Solana-based Liquid Staking Protocol replied to the news, hinting at its involvement in the project. In a reply to Bybit’s post, the Liquid Staking protocol said it was “ready to help this bbSOL grow big and strong.” This suggests that the exchanges are entering the Solana Liquid Staking ecosystem. The BNSOL, BGSOL, and bbSOL LSTs would allow users to stake their tokens and receive rewards while continuing to participate in other DeFi projects. The tokens would offer investors flexibility, as they would have access to liquidity without unstaking their tokens. Major Boost For SOL Price Coming? Following the announcements, the crypto community expressed a positive sentiment towards SOL. Many shared their excitement about the products, calling them “bullish” for the Solana ecosystem. Meanwhile, others suggested that positive competition was brewing in Solana’s Liquid Staking sector. The bullish sentiment seemingly translated to CLOUD, Sanctum’s governance token. The Liquid Staking protocol’s token soared 56% following the announcement. CLOUD saw a massive surge from the $0.16 price range to the $0.25 mark before stabilizing above the $0.24 level. Similarly, some community members noted that the crypto exchanges appear to see significant potential in SOL’s performance. SOL quickly surged to the $147 range, a 4.2% increase from Wednesday’s lows. Despite the positive sentiment, the price retraced to the $145 support zone before unsuccessfully retesting the daily high a second time. Nonetheless, investors believe that the recently announced tokens could bring a significant inflow of liquidity as the crypto exchanges have a massive user base. Moreover, the TSLs could accelerate Solana’s Liquid staking sector’s expansion and boost its adoption by retail users. The fifth-largest cryptocurrency by market capitalization had its price recovery halted by the most recent market shakeout. SOL’s price lost the $160 support zone and revisited the $140 level as Bitcoin slipped to $58,000 two days ago. Related Reading: RENDER Soars 30% In A Week, Here’s Why Experts Forecast A Massive Pump As a result, some market watchers remain cautious about the token’s short-term performance but suggest that SOL might aim for new heights in the coming months. As of this writing, the cryptocurrency trades at $145, a 2% increase in the last 24 hours. Featured Image from Unsplash.com, Chart from TradingView.com
With both spot and derivatives trading showing robust growth, exchanges like Bybit and Binance continue to play pivotal roles in facilitating this activity.
It has always been Bybit's primary objective to operate our business in compliance with all relevant rules and regulations, the company said in its post.
The access to Hamster Kombat tokens on Bybit’s OTC pre-market platform allows users to secure HMSTR tokens ahead of the market and to lock in their purchase early.
Bybit became the world’s second-largest crypto exchange, while the leading exchange, Binance, has lost some market share due to previous regulatory issues.
Data suggested that more than ten million Chinese nationals lived outside the country, giving Bybit access to a larger pool of crypto users.
Bybit has removed China from the list of countries whose citizens are restricted from using its services. CryptoSlate confirmed this development on June 5 via the exchange’s website and noted that the list still includes other countries such as the United States, the United Kingdom, Canada, Singapore, and Hong Kong. It is unclear if Bybit […]
The post Bybit opens doors to Chinese users despite regulatory hurdles appeared first on CryptoSlate.
Bybit crypto exchange CEO Ben Zhou has firmly denied rumors about the exchange’s alleged insolvency circulating on social media. This week, obscure social media accounts began spreading these rumors, with one user suggesting that a bug in a proof-of-reserves graph from Arkham Intelligence might have sparked the speculation. Zhou promptly dismissed these claims, stating they […]
The post Bybit CEO dispels insolvency rumors amid $115 million user withdrawals appeared first on CryptoSlate.
The Autorité des Marchés Financiers reported Bybit has been blacklisted since May 2022 “for non-compliance with current French regulations.”
In a post on X, one analyst now claims traditional fiat-backed stablecoins like USDT and USDC should prepare for a “major” attack due to the increasing popularity of Ethena’s USDe. The warning follows Ethena and USDe’s integration with Bybit, a crypto exchange allowing perpetual trading. Ethena Partners With ByBit USDe is not fiat-backed like other popular stablecoins. […]
Ethena's USDe tokenized yield strategy has attracted over $2 billion in deposits and some scrutiny of the token's risks.
Hong Kong's markets regulator identified Bybit as a suspicious cryptocurrency exchange and placed several of its products on its suspicious investment products list.
The share of weekend Bitcoin trading volume has been in decline since 2018 but has dropped considerably since the U.S. launch of spot Bitcoin ETFs in early January.
The cryptocurrency exchange submitted its license application on Jan 31.