Crypto Exchange Bybit Announces Trading Support for Overseas Chinese

June 7, 2024 Bitcoin.com

Bitcoin

Cryptocurrency exchange Bybit has opened its platform to overseas Chinese residents for trading. The Dubai-based company’s decision is part of a strategy to draw new users while navigating the complexities of global regulatory scrutiny. “This move is in response to the growing demand for secure, reliable, and user-friendly cryptocurrency trading platforms among Chinese expatriates and […]

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Bybit opens registration to Chinese nationals overseas

June 6, 2024 Coin Telegraph

Ban

Data suggested that more than ten million Chinese nationals lived outside the country, giving Bybit access to a larger pool of crypto users.

Cryptocurrency exchange Bybit has reportedly opened registration and identification verification for Chinese nationals outside the country.

According to reports from Bybit users on June 6, the exchange will allow overseas Chinese nationals to register and trade crypto on the platform. Users can register with a Chinese national ID, but trading crypto as a national based in China was seemingly not permitted.

With a headquarters in Dubai, Bybit is one of the largest cryptocurrency exchanges by trading volume, behind Coinbase and Binance. The firm previously pulled out of Canada in response to the regulatory environment but has expanded into other markets, including Kazakhstan and the Netherlands. Cointelegraph reached out to Bybit for comment but did not receive a response at the time of publication.

Russia Using Bitcoin to Bypass Sanctions – Is the Global Financial System Cracking?

Centralized crypto exchange trading volume falls to $5.2T in May

June 5, 2024 Coin Telegraph

Centralized crypto exchange trading volume falls to .2T in May

Binance

Trading volumes on CEXs have somewhat subsided after topping $9 trillion in March.

According to the latest report by CCData, in May 2024, the cryptocurrency market saw a significant decline in both spot and derivatives trading volumes.

The combined trading volume on centralized exchanges fell by 20.1% to $5.27 trillion during the month. This decline marks the second consecutive month of reduced trading activity, driven by the rangebound price of Bitcoin (BTC) following the network’s April halving.

Spot trading volumes on centralized exchanges dropped 21.6% to $1.57 trillion. The derivatives market also experienced a decline, with volumes decreasing by 19.4% to $3.69 trillion. Despite this downturn, the derivatives market’s dominance increased to the highest level since December 2023, as traders responded to the United States Securities and Exchange Commission’s unexpected approval of spot Ether (ETH) exchange-traded funds (ETFs). This led to a record high in open interest for Ether derivative instruments, which rose by 50.3% to $14.0 billion.

Russia Using Bitcoin to Bypass Sanctions – Is the Global Financial System Cracking?

Crypto Exchange Bybit Reaches 30 Million Registered Users Around the Globe

May 21, 2024 Bitcoin.com

bitcoin.com

Cryptocurrency exchange Bybit has announced that it has surpassed 30 million registered users globally, marking a significant milestone in its growth. The company’s market share in spot trading has increased from 2% in 2023 to 9.3% in 2024, according to the latest Kaiko Research quarterly report. This growth is attributed to Bybit’s commitment to user […]

Russia Using Bitcoin to Bypass Sanctions – Is the Global Financial System Cracking?

Decreasing Bitcoin Supply on Exchanges Indicating Possible Bullish Shift

May 17, 2024 Bitcoin.com

Bitcoin (BTC)

Bitcoin’s supply on exchanges has significantly decreased, reaching new lows amid a bullish market trend, which analysts interpret as a shift towards long-term holding rather than short-term trading. A report by Bybit claimed that the diminishing supply could deplete within the next nine months, driven by factors such as the recent Bitcoin halving event and […]

Russia Using Bitcoin to Bypass Sanctions – Is the Global Financial System Cracking?

French regulator warns investors Bybit provided services ‘illegally’

May 16, 2024 Coin Telegraph

Bybit

The Autorité des Marchés Financiers reported Bybit has been blacklisted since May 2022 “for non-compliance with current French regulations.”

The Autorité des Marchés Financiers (AMF), the securities regulator in France, has reiterated a warning to crypto investors that Bybit is blacklisted in the country.

In a May 16 notice, the AMF reminded the French public that Bybit was an unregistered crypto platform operating illegally in the country, offering digital asset services on behalf of third parties. The regulator warned it had the authority to block Bybit’s website “providing its services illegally in France.”

“Unregistered platforms providing these services in France are illegal under French law,” said the AMF. “BYBIT is not registered as a [digital asset service provider].”

Russia Using Bitcoin to Bypass Sanctions – Is the Global Financial System Cracking?

Centralized Crypto Exchange Trading Volume Plummets in April After Six Months of Consecutive Gains: CCData

May 11, 2024 The Daily Hodl

New data reveals that the overall trading volume of centralized crypto exchanges (CEXs) plummeted in April after six consecutive months of gains. According to blockchain tracker CCData, the combined volume of spot market and derivatives trading on centralized exchange platforms fell by a staggering 43.8% to $6.58 trillion. The firm’s charts indicate that in March, […]

The post Centralized Crypto Exchange Trading Volume Plummets in April After Six Months of Consecutive Gains: CCData appeared first on The Daily Hodl.

Russia Using Bitcoin to Bypass Sanctions – Is the Global Financial System Cracking?

Crypto Derivatives Exchange Bitmex Ventures Into Options Trading

May 9, 2024 Bitcoin.com

Binance

On Wednesday, the cryptocurrency exchange and derivatives trading platform Bitmex declared its introduction of new trading options. Users now have the opportunity to engage in a broad selection of crypto options, which are margined in bitcoin, USDT, or USDC. Bitmex Introduces Options Trading On Wednesday, the crypto firm Bitmex, established in 2014 by Arthur Hayes, […]

Russia Using Bitcoin to Bypass Sanctions – Is the Global Financial System Cracking?

Ethena’s USDe To Be Integrated Into Third Largest Global Crypto Exchange Bybit

May 7, 2024 The Daily Hodl

Altcoins

A new Ethereum (ETH)-based USD-pegged stablecoin is getting a boost from one of the world’s largest crypto exchanges. Ethena Labs has announced that USDe, the stablecoin of the Ethena (ENA) ecosystem, is being integrated by Bybit, the third largest crypto exchange by trading volume. “We are excited to share one of the most important developments for USDe adoption to date. As of […]

The post Ethena’s USDe To Be Integrated Into Third Largest Global Crypto Exchange Bybit appeared first on The Daily Hodl.

Russia Using Bitcoin to Bypass Sanctions – Is the Global Financial System Cracking?

OKX, Binance and Bybit monthly volumes tripled since late 2023

April 18, 2024 Coin Telegraph

Binance

According to Bybit data, the growth trend of CEXs has failed to overtake the growth rate of decentralized exchanges (DEX), as major DEX Uniswap v3 increased volumes by 320%.

A new report says trading volumes on global centralized cryptocurrency exchanges (CEX) like Binance have spiked significantly since late last year.

According to data from the Bybit Institutional Report 2024, many CEXs at least tripled their monthly trading volumes from October 2023 to March 2024.

Released on April 18, Bybit’s report indicates that OKX 30-day volumes have surged as much as 278% since last October, while Binance followed with a 239% increase. Bybit exchange also stood out as one of the fastest-growing platforms in terms of volumes, adding 264%.

Bybit

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