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Tag: Bybit

October 29, 2024

Bankrupt Crypto Exchange FTX Settles Suit Against Crypto Firm Bybit for $228 Million!

The legal dispute between the collapsed U.S. crypto exchange FTX and Dubai-based Bybit has recently reached a significant milestone with a settlement agreement worth $228 million. Here's an overview of the background, context, and latest developments. The settlement comes just in time for the expected bull run in the crypto segment.

Crypto

June 30, 2024

Red-listed Bybit Surpasses Coinbase in Market Share Following Binance’s Regulatory Troubles!

In a shift within the crypto exchange landscape, Bybit has emerged as the world's second-largest cryptocurrency exchange, overtaking Coinbase. This change comes amid a backdrop of regulatory challenges faced by Binance, the leading exchange by trading volume. The Chinese national Ben Zhou is the key figure behind Bybit's rapid growth, having founded the cryptocurrency exchange in 2018.

June 21, 2024

Meme Coins: A Game of Chance and Pump-and-Dump Schemes Masquerading as Investment!

In the current crypto bull run, a troubling trend has emerged: more and more crypto exchanges are aggressively promoting the trading of meme coins. These..

FinTelegram

January 19, 2024

Binance’s Remarkable Resurgence Post U.S. Settlement: Dominating the Crypto Exchange Market!

In an extraordinary turn of events, Binance, the world's leading crypto exchange, has demonstrated a formidable comeback following its legal settlement in the United States, solidifying its position as the top global crypto exchange. As of January 19, 2024, the Binance coin BNB has been trading at $312, up 38% since Nov 21, 2023. This is an impressive testament to the growing investor confidence in Binance's stability and potential.

FinTelegram

September 15, 2023

Crypto Exchange Bybit To Withdraw From UK Because Of Regulatory Scrutiny!

Bybit, one of the world's largest crypto exchange operators, anticipates withdrawing from the United Kingdom in anticipation of forthcoming marketing regulations. These new rules, scheduled to take effect in the coming weeks, are poised to impose more stringent requirements on crypto-related marketing practices. Ben Zhou, co-founder and CEO of Bybit, commented: "We do see regulation becoming more strict."

July 3, 2023

Greylisted UAE, Their Dangerous Crypto-Friendly Approach, And What It Means For Investors!

In March 2022, the United Arab Emirates (UAE) was designated as a high-risk country by the global financial crime watchdog Financial Action Task Force (FATF) and added to their “grey list” of countries subject to increased monitoring to counter financial crime. Despite the greylisting, many crypto companies such as Binance have set up shop in Dubai in recent months. Lured by the crypto-friendly regulation. This is dangerous for all other regulatory regimes, merchants, and consumers.

May 10, 2023

101 Crypto Ecosphere: Crypto Exchanges And Their Payment Processors!

To map the worldwide crypto scene is an impossible task. One encounters a practically opaque network of crypto exchanges such as Binance, ByBit, KuCoin, BitGet, etc., and connected payment processors such as Advcash or MoonPay. For example, the FIAT transactions of the crypto exchanges are processed via the latter. Of course, this is a very simplified representation. But you have to start somewhere. The "101 Crypto Ecosphere" chart shown above is such a start.

May 2, 2023

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

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.

Crypto-Exchange

March 5, 2023

Troubled U.S. Crypto Industry! ByBit Suspends US Dollar Deposits Via Bank Transfer!

Dubai-based crypto exchange Bybit has suspended United States dollar deposits via bank transfers (including SWIFT) in response to “service outages from a partner,” the company announced via a blog post and on Twitter. However, customers can continue to deposit USD via the Advcash Wallet or buy cryptocurrencies with a credit card on ByBit's One-Click Buy page. Funds can be withdrawn through wire transfers until March 10.

September 8, 2022

The Disastrous Trustpilot Ratings Of Crypto Exchanges And The Exceptions CEX, Oobit, And BitPanda!

The well-known crypto exchanges like Coinbase, Binance, Crypto.com, or FTX seem to have a problem with their customers. On Trustpilot, most of the top crypto exchanges have scam ratings with customers complaining about unfounded blocked accounts and problems with customer service. Exceptions are CEX.io, Oobit, or BitPanda, which stand out like a lighthouse on Trustpilot. With 4.7-stars and 4.1-stars respectively, CEX.io and BitPanda apparently perform incredibly better than their international competitors.

Compliance

March 7, 2021

Crypto-trading gamification platform Bybit terminates UK business after FCA warning

Bybit is a leader in the gamification of crypto trading. FinTelegram published an initial review on Singapore-based crypto-derivate trading platform Bybit (www.bybit.com) of Ben Zhou a few days ago. In this context, we also reported on an investor and scam warning issued by the UK Financial Conduct Authority (FCA) against Bybit. In October, the FCA had issued a ban on the sale of crypto derivatives to UK retail investors or consumers. In a recent blog post, Bybit has now announced the suspension of services to UK customers.

Cash Cow Crypto: U.S. CFTC Enforcement Sets Records in FY 2024 with $17.1 Billion in Monetary Relief!

The U.S. Commodity Futures Trading Commission (CFTC) achieved a landmark year in FY 2024, securing over $17.1 billion in monetary relief, including $2.6 billion in civil penalties and $14.5 billion in restitution. The agency’s groundbreaking actions spanned digital asset (crypto) markets, voluntary carbon credits, and major compliance cases, highlighting its leadership in safeguarding market integrity.

U.S. DOJ’s Whistleblower Pilot Program: 250+ Tips in Just Months!

Whistleblowers are the only effective way to fight financial crime. The U.S. DOJ whistleblower pilot program has already proven effective, generating over 250 tips of potential misconduct since its launch in August, according to Principal Associate Deputy Attorney General Marshall Miller. According to a Reuters report, the initiative targets corporate malfeasance and encourages internal self-disclosure by companies.

Online Gambling: Lokinvestigation in Curaçao, its Maltese Connections, and How to Shut Down!

For many years, the far-far-away Curacao was the regulatory mecca of global online gambling. But that is over. The Lokinvestigation, spearheaded by opposition politician and forensic investigator Dr. Luigi Faneyte, reveals systemic failures and alleged corruption in Curaçao’s online gambling sector. With ties to Maltese investors and global financial networks, the report demands transparency but also carries political implications.

KTM’s Collapse: How Pierer and Blazicek Possibly Misled Investors and Profited Amid a €2.9 Billion Crisis!

The recent insolvency filing by KTM AG, Europe's largest motorcycle manufacturer, has unveiled significant managerial failures under CEO Stefan Pierer and Chairman of the Supervisory Board Josef Blasicek of Pierer Mobility AG. Despite clear indicators of financial distress, the company continued to distribute substantial dividends, misleading investors about its fiscal health. Here is an investor update on the KTM case.

Investor Briefing

Investor Briefing: Why Elon Musk’s SpaceX is valued at $350 Billion!

SpaceX, Elon Musk's private aerospace company, is reportedly in discussions to sell insider shares at a valuation of approximately $350 billion. This would be double what the company was reportedly selling shares at one year ago. In December 2023, Bloomberg reported SpaceX shares were being sold at a $175 billion valuation. Musk's closeness to Trump is apparently paying off.