Tag: Bybit FinTech

Interesting: FTX Estate Sues Bybit to Return $953M In Allegedly ‘Misappropriated Funds’

Bankruptcies Mark Lagarde - November 14, 2023

In a recent development in the cryptocurrency sector, the estate of the now-bankrupt U.S. crypto firm FTX has initiated legal action against Bybit, a competing exchange platform. The lawsuit, filed in Delaware, seeks the recovery of approximately $953 million. This sum represents assets and cash that FTX alleges were improperly withdrawn by Bybit’s investment arm, Mirana Corporation, prior to FTX’s bankruptcy declaration.

Despite Regulatory Issues: Crypto Exchange ByBit With Rising Number Of Russian Website Visitors!

BaFin Ben - May 2, 2023

Founded in 2018 in the British Virgin Islands, crypto exchange ByBit is currently operated through Singapore-registered ByBit Fintech Limited. In the UK, ByBit has cashed in on an FCA warning and withdrawn from the UK. German regulator BaFin announced an investigation into ByBit in July 2021. In 2023, Japan's regulator FSA warned against the crypto exchange. Despite Western sanctions, Similarweb analysis shows that most website visitors come from Russia.

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