what's bybit?
Bybit is a global cryptocurrency exchange platform founded in 2018, headquartered in Dubai, specializing in derivatives trading including perpetual contracts, futures, and options with up to 100x leverage. It also supports spot trading, NFT marketplace access, and earn products like staking and savings for various cryptocurrencies. The platform emphasizes user-friendly interfaces, high liquidity, and advanced trading tools such as copy trading and trading bots. Bybit serves over 20 million users worldwide and has expanded into Web3 services, including wallet integrations and blockchain ecosystem support. It promotes partnerships with projects like Mantle ($MNT) for trading incentives, though $MNT is not its native token. Recent activities include liquidity provisions during market events and regulatory compliance efforts amid allegations of market manipulation.
Bybit listed FOGO, ranked 3rd in Dec spot volume, and offers crypto cashback on eSIMs.
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x.com/bybit_officialListed FOGO token for spot trading with pairs launching on 2026-01-15 at 14:00 UTC.
Recorded the highest liquidations among exchanges in the past 24 hours ending January 12, 2026, with total liquidations across Binance, Hyperliquid, and Bybit reaching $135M and affecting 73.9k traders.
Offers up to 10% crypto cashback on eSIM purchases made through Bybit Pay.
Bitcoin taker buy/sell ratio reached 30.33, indicating strong buy-side aggression and market buy pressure.
Ranked third in spot trading volume among mainstream centralized exchanges in December 2025, behind Binance and ahead of Kucoin.
bbSOL ranked No.1 on Arkham Intelligence exchange netflows with $1.08M in inflows over 24 hours, representing a 166% day-over-day increase.
Listed ZAMA token on pre-market trading.
Mantle Vault on Bybit reached $100M in assets under management (AUM).
A wallet associated with RookieXBT transferred 16.6M PENGU (valued at approximately $210,909) to a new wallet that previously deposited SOL into Bybit.
Bybit PWM's top fund achieved 20.30% APR in 2025 through diversified USDT and BTC strategies.
Listed WHITEWHALE perpetual contract with USDT settlement.
Lists WHITEWHALE token on Spot market as the first listing of 2026.
Added silver trading on Bybit TradFi platform.
Listed BREV token for spot trading.
Accumulated 1,982 BTC on January 3, 2026.
Surpassed by Solana onchain spot volume in total trading volume during 2025, with Solana reaching $1.6 trillion while Bybit was exceeded.
Captured an estimated 1.59 trillion Korean won (~$1.12 billion) in trading fees from South Korean users in 2025, as part of offshore exchanges collectively earning 4.77 trillion won from Korean traders.
Runs a trading competition with $1,000 MNT in rewards distributed to 10 winners, ending on 2026-01-08.
Helen Liu serves as Co-CEO and Group Partner.
Runs a promotion until February 10, 2026 offering users who deposit USD via StraitsX (SWIFT) for 1:1 USD to XUSD conversion a share of 50,000 XUSD plus winter merchandise.
Conducted an airdrop through post-to-earn activities on Kaito platform in 2025.
Combined perpetual futures open interest across Bybit, Binance, and OKX was surpassed by regulated BTC, ETH, SOL, and XRP ETF options open interest for the first time.
Captured 11% market share of the crypto derivatives market in 2025, with total derivatives market volume reaching approximately $85.7 trillion for the year.
Released 29th Proof of Reserves report with snapshot date December 17, 2025, showing user BTC holdings at approximately 63,000 BTC (down 5.49% from November 19), user ETH holdings at approximately 537,000 ETH (down 6.67%), and user USDT holdings at approximately 6.05 billion USDT (up 8.13%).
Flagged by the Philippine Securities and Exchange Commission as an unlicensed exchange operating in the country.
Suffered the largest single exchange theft in history in February 2025, losing $1.5 billion with over 400,000 ETH stolen.
Introduces a new insurance fund mechanism for USDT perpetual contracts with a dedicated insurance fund of at least $8 million per new contract, transitioning to a shared composite fund based on risk and liquidity, raising average loss-absorption capacity per trading pair by over 200% compared to the previous single-pair model.
Will gradually exit the Japanese market starting in 2026, with accounts held by Japanese residents facing phased restrictions, following regulatory disputes with Japan's Financial Services Agency over unlicensed operations since 2021.
Offers xStocks tokenized shares of 60+ major U.S. companies and ETFs including Apple, Tesla, NVIDIA, and Amazon, enabling round-the-clock access to equities via crypto rails.
Reached 70 million users.
Launched an earn product offering 8-9% APR that runs the Aavethena strategy for users on the exchange.
Achieved a Guinness World Record during WSOT 2025.
Dragonfly Capital deposited 6,000,000 MNT tokens (approximately $6.95M USD) to Bybit over a 7-day period ending December 21, 2025.
Launched a VIP campaign offering tiered benefits for deposits of at least $80,000 (VIP2) or $100,000 (VIP3), with VIP status activated within 3 days of deposit and valid for 30 days, running for 50 days total.
Relaunched in the UK via Archax with spot and P2P trading, complying with FCA financial promotion rules after exiting in 2023.
Obtained MiCA license in Austria.
Running a Christmas card design promotion with a 50,000 USDT prize pool.
Bybit multi-signature Safe interface was affected by a malicious code injection attack that altered transaction logic, resulting in funds being drained before detection.
Listed VOOI token on Bybit Spot trading with a 7 million VOOI prize pool for trading and deposits.
Hosts a livestream on December 18, 2025 at 8AM UTC focused on $BYUSDT trading benefits and insights for VIP users.
Supports Scroll (SCR) v5.10.0 network upgrade Phase II.
Bought 3,431 BTC on 2025-12-17.
Lists ZKP token for spot trading on the Bybit platform.
Listed SCOR token on Bybit Spot trading with a 25,000,000 SCOR prize pool for trading and deposit activities.
Reward pool of 858,670 USDT available for participants who mint, hold, and trade tokens.
Integration with Volmex Finance completed, bringing their Bitcoin volatility index (BVIV) to the platform.
The CryptoArk mining campaign closes on December 22, with participants able to claim their share of a 300,000 USDT reward pool.
ZIG token lists on the exchange with ZIG Chain deposits enabled.
Bybit celebrates its 7th anniversary with a Mantle-themed segment during Mantle's State of Mind livestream on December 18, 2025, at 7PM UTC+8.
Platform introduces Traders' House, consolidating trading, learning, earning and competition features in one location.
Bybit adds futures trading for $US token from Talus_Labs.
Bybit Earn products can now be used as collateral to trade on the platform.
FOLKS token lists on the exchange, and Head of Spot Emily Rio Freeman presents at Solana Breakpoint Day 3 on December 13, 2025, discussing unified liquidity layer and CeFi-DeFi convergence.
BYUSDT token launches with VIP-exclusive swap mechanism enabling 1:1 conversion of USDT Flexible Easy Earn to tradeable BYUSDT tokens.
Two newly created wallets withdraw 300,000 USDT from the platform to purchase RAVE token, spending 200,000 USDT to acquire 958,526 RAVE tokens with 100,000 USDT remaining.
Platform releases 2025 year-end recap feature displaying user metrics for $MNT holdings, fee savings, and Launchpool earnings with additional rewards for amplification.
GSR receives Outstanding Institutional Contribution Award from Bybit this week, with GSR CEO committing to continue deep cooperation to build institutional-grade products and services for the crypto market. Bybit ranks 3rd in perpetuals 24h volume at $20.81B behind Binance ($60.14B) and OKX ($26.32B).
CEO and Co-Founder participates in fireside chat with Solana Foundation President at Solana Breakpoint 2025 conference, discussing CeFi, DeFi, and Internet Capital Markets convergence. Chain for Good initiative funds impact-driven charitable projects.
Bybit launches 7th anniversary campaign with up to $2.5M in rewards for traders.
Wallet infrastructure upgrade starts December 12 with internal fund transfers between existing and new wallets, requiring no action from users.
$FOLKS token launches Futures trading on Bybit exchange.
Bybit records $109.3M in liquidations over 24 hours with 72% being long-side liquidations, ranking as the third-largest exchange by liquidation volume in a market-wide event that liquidated 149,832 traders totaling $495M.
Belarus blocks residents' access to Bybit and other crypto exchanges. Bybit Easy Earn launches two $MNT pools with boosted rewards for all users, staking deadline December 18.
ALMANAK token officially lists on Bybit Spot with an 11,000,000 ALMANAK prize pool for trading and deposits, as Bybit, Mantle, and Almanak partner to bring AI-powered quant strategies onchain.
Head of Spot at Bybit and Byreal founder Emily Bao speaks at Solana Breakpoint about CeFi/DeFi convergence and unified liquidity layer.
ByReal x Bybit x Mantle framework launches for RWA issuance and trading. Bybit-Mantle integration reaches 976K traders with $77.8B annual volume and 95.7% institutional participation.
CEO Ben Zhou speaks at Fintech Abu Dhabi during AD Finance Week 2025 on a panel about the future of payments alongside leaders from Tabby and Google.
CEO and Co-Founder Ben Zhou joins SolanaConf 2025 for fireside chat with Solana Foundation President Lily Liu.
$MNT hits new all-time highs as treasury reaches $7.7 billion with deep Bybit integration.
$NIGHT Launchpool goes live in partnership with Midnight Network with 50,000,000 NIGHT prize pool available for NIGHT and MNT staking.
Report findings show RWA tokenization value at $2.57 billion (up 63%), on-chain payroll adoption at 9.6%, and stablecoins accounting for over 90% of payroll transactions.
World Crypto Rankings index by DL Research launches on Bybit, covering 79 countries with four-pillar measurement framework for global crypto adoption analysis.
$MNT Launchpool goes live with early staking window currently open for participants.
$FOLKS token launches on Bybit Futures trading with all-time high price breakout.
XDC Network integration launches for USDC deposits with zero gas fees and $200,000 USDC rewards program for new users, with USDC withdrawals on XDC to open once liquidity requirements are met.
Circle partners with Bybit to boost USDC liquidity and adoption globally, with integration of Circle's on/off-ramps as part of expanding regulated offerings.
$NIGHT token lists on Bybit Spot trading with a 200,000,000 NIGHT prize pool promotion for traders and depositors in partnership with Midnight Network.
Platform launches hackathon campaign in partnership with DMCC, offering 20 USDT rewards to 150 winners (3,000 USDT total distribution).
$WET token listed on Bybit spot trading platform.
Ethena Labs vesting contract recipients deposit significant ENA tokens to platform, with sershokunin depositing $595.5K (2.18M tokens) and distribution ongoing.
Spot trading volume declined from $1.7T to $1.4T, a decrease of approximately $300B, while overall CEX spot volume reached record $13.1T with competitors like Bitget, Gate, and Kraken showing growth.
Circle forms strategic partnership with Bybit to expand USDC liquidity and usability across global markets beyond Coinbase.
Platform launches Launchpool with MNT token rewards, staking opportunity ends December 18-19 at 10am UTC.
Platform announces Almanak Spot listing to go live with Almanak games launch and introduces pledging rewards for long-term user alignment.
Bybit Alpha's Liquidity Farm launches, enabling users to earn DeFi yields directly from their accounts.
Platform enables mETH as collateral through integration with Fireblocks, targeting institutional workflows with self-custody security features.
Whale wallet deposits $6M in HYPE tokens (200K tokens) to platform. 7th anniversary campaign offers 2,500,000 USDT prize pool for trading activities.
Platform partners with Circle to promote USDC integration across spot, derivatives, and payment products while enhancing fiat on/off-ramp efficiency, and joins Circle Arc public beta for stablecoin infrastructure development.
A whale wallet linked to Ethena team withdraws 25M ENA tokens worth $6.62M from the platform, bringing the wallet's total holdings to 780M ENA tokens valued at $213.7M.
Futures open interest on the platform reaches $5B, second only to Binance at $8.2B, as derivatives trading remains active.
Platform runs CryptoArk campaign with grand prizes including Chanel, Rolex, and Tesla Cybertruck, ending January 8, 2026 at 10AM UTC.
Platform announces upcoming listing of NIGHT token on Bybit Spot trading platform in partnership with Midnight Network, a privacy-focused L1 blockchain from Charles Hoskinson.
Platform hosts Institutional Gala in Abu Dhabi with industry leaders and institutions discussing regulation, markets, and the future of digital assets.
Bybit integrates directly with Mantle to enable trading and withdrawal of tokenized US equities from BackedFi and xStocksFi without intermediaries.
Platform introduces first-ever CEX-integrated liquidity farm via Bybit Alpha, offering 100-600% yields with concentrated liquidity model and customizable price ranges without lockups.
Platform launches $2.5M prize pool campaign for 7th anniversary celebration where users trade to level up avatars and earn points for guaranteed rewards.
Platform celebrates 7th anniversary with a leaderboard competition offering $77,777 in prizes. Separate Gold Mine campaign launches with 300,000 USDT prize pool.
Platform launches MNT price prediction competition with 200,000 USDT for top 500 participants and 50,000 USDT for top 200 new users, ending December 11, 2025.
A whale wallet with initial funding from Bybit launches $TBY token, now listed on Zoomex, with the wallet holding $1.31M in SOL and $1.87M in stablecoins.
WET token trades on premarket at $0.174. UAI token lists on the platform alongside Binance Alpha.