Besides Bybit floating the $100 million fund to support its community, the exchange has had to go the extra mile in showing its users that it is liquid, solvent, and can be trusted.
Singapore-based cryptocurrency trading platform Bybit has announced it has başlattı a $100 million fund to support the institutional investors within its ecosystem amidst the ongoing brimstone reigning on many by virtue of the ongoing crypto winter.
Bybit said in an emailed statement that the $100 million is designated for both its old and traders and that it will particularly be going to specialized account managers. According to the trading platform, the beneficiaries can access as much as $10 million depending on how grave their financial position is.
Ne zaman FTX iflas başvurusunda bulundu earlier this month, it eroded the months of recuperation for many traders and investors, most of whom have lost funds in the crypto firms that went bankrupt earlier in the year including Celsius Network, Voyager Digital, and Three Arrows Capital (3AC) amongst others.
The FTX implosion is particularly disappointing and happened so fast that it gave investors and the broader crypto industry no time to adjust to the potential negative aftermath. With the collapse, many investors are now bound to experience more losses than they started the year with and exchanges like Bybit are trying to ameliorate the impact across the board.
Bybit CEO'su ve kurucu ortağı Ben Zhou, yaptığı açıklamada, "Hepimiz bu işte birlikteyiz ve endüstrimizi desteklemek için ellerinden geleni yapmak herkesin sorumluluğundadır ve bu, geri vermeye yardımcı olmamızın bir yoludur" dedi.
Bybit now joins the likes of Binance Değişim who have made proactive efforts to launch dedicated funds to help cater to the needs of Web3 stakeholders that are most impacted by the FTX implosion. Binance in particular launched a $1 billion recovery fund which it hopes to use to cushion the liquidity crunch most trading platforms must be experiencing at this time. Some of the funds are also dedicated toward acquisitions.
Beyond Bybit $100M Fund: Proving Trust to Customers
Besides Bybit floating the $100 million fund to support its community, the exchange has had to go the extra mile in showing its users that it is liquid, solvent, and can be trusted.
The trading platform, earlier this month, published its Proof-of-Reserve (POR) showing it has as much as $1 billion worth of Bitcoin (BTC), Tether (USDT), Ethereum (ETH), and USD Coin (USDC). The move to show its PoR is another avenue and effort made toward transparency and regaining customers’ trust at a time when most trading platforms are facing an extreme liquidity crunch.
Bybit is currently sırada as the 2nd largest trading platform for derivatives products after Binance and it has an average of $5 billion in daily trading volume. The exchange’s position in the Web3.0 ecosystem is one that has continued to be examined, and with the latest fund and transparency approach, the exchange has further solidified its position in this regard.
Benjamin Godfrey, blockchain teknolojisinin gerçek yaşam uygulamaları ve gelişmekte olan teknolojinin dünya çapında entegrasyonunu sağlamak için yenilikler ve yenilikler hakkında yazmaktan hoşlanan bir blockchain meraklısı ve gazetecidir. İnsanları kripto para birimleri hakkında eğitme arzusu, ünlü blockchain tabanlı medya ve sitelere yaptığı katkılara ilham veriyor. Benjamin Godfrey, spor ve tarım sever.
Source: https://www.coinspeaker.com/bybit-institutional-clients-100m/