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's PoR shows mixed holdings; listed US equities, launched VIP program, facing insolvency rumors.
Links
x.com/bybit_officialPartnered with Emirates Red Crescent (ERC) to operate a dedicated Ramadan Tent in Madinat Zayed, Abu Dhabi, providing 200 iftar meals daily throughout Ramadan 2026.
Intercepted $300 million in impersonation scams and fraudulent withdrawals in Q4 2025.
Launched a promotion for TradFi product trading requiring users to sign up, claim a task in Rewards Hub, and trade TradFi products (metals, stocks, indices, forex, commodities) within 14 days ending approximately 2026-03-13 to qualify for rewards.
Launched UTA Fixed-Rate Borrowing feature offering users fixed rates, terms, and quotas with up to 10× leverage.
Runs a referral program offering up to $30 per qualified referral and a lucky draw with prizes up to 1 oz of Gold, ending on 2026-03-25.
Offers an 800,000 USDC prize pool in a trading incentive program ending on 2026-03-06.
Achieved median trading volume of $584M per listing from day one to month three based on 2025 data.
Launched incentive program offering 7,500,000 ROBO prize pool in partnership with OpenMind AGI.
Listed Fabric Protocol (ROBO) on spot trading platform February 27, 2026, with deposits via Ethereum, Base, and BSC chains.
Added Congolese Franc (CDF) as a fiat currency option on P2P trading, with a market launch booster campaign offering rewards for first successful CDF buy orders.
Experienced approximately 100% mETH balance growth from December 2025 to January 2026.
Runs a meme competition with a 500 USDT prize pool ending on March 11, 2026 at 23:59 UTC.
Reached a BTC taker buy/sell ratio of 13.15 on February 24, 2026.
Runs a new user promotion called "7UP" offering a share of 2,000 USDT in rewards for sign-ups with entry numbers that are 7 or multiples of 7, ending on 2026-02-28.
Runs a social media giveaway with a 2000 USDT prize pool for 20 winners from February 4 to February 28, 2026.
Enabled low-cost stablecoin settlement between Bybit and DeFi via USDT0, built direct liquidity bridge with Mantle.
Launched a Read-to-Earn program with a 1 XAUT prize pool for users who complete educational tasks on Gold hedging and TradFi products, plus a 0.001 XAUT airdrop for new users.
Launched Dual Account Modes (Zero-Fee and Tight-Spread) for TradFi product. Hosts educational session February 24, 2026 at 3PM UTC with Chief Market Analyst Han and Product Expert Brandon.
Partnered with Mantle for RWA distribution, with Mantle serving as infrastructure for issuers and focusing on institutional and non-US capital.
Partnered with Crypto Fund Trader (CFT), providing traders access to virtual capital ranging from $5K to $300K with profit-sharing.
CEO Ben delivered a year-end keynote reviewing 2025 developments and presenting 2026 roadmap, including strategic transition from crypto exchange to comprehensive financial platform.
Became title sponsor of the Stockholm Open tennis tournament, gaining center court and global stage visibility.
Arthur Hayes deposited 1,000 ETH (valued at $1.99M) on February 17, 2026.
Experienced a funding rate of -35000% annualized (100% per day) on RPL shorts, representing an extreme market condition.
Runs a promotional campaign with 1,000 XAUT in rewards for users participating in Easy Earn stablecoin activities, ending on 2026-02-28.
Launched a promotional scratch card campaign with a daily draw pool of 1,000,000 cards offering prizes up to 1,000 USDT.
Achieved $1.5T trading volume in 2025, representing 8.1% market share as the second-largest centralized exchange, down 13.7% year-over-year following recovery from a February hack.
Hosts a $150K MNT Puzzle Hunt incentive program in partnership with Mantle, running until February 23, 2026, rewarding users for staking, trading, and collecting activities.
Partnered with Nasdaq and Solidus Labs to enhance surveillance against coordinated market attacks.
Runs a Valentine's Day promotion offering 600 USDT in prizes for completing tasks, ending on 2026-02-19.
CEO Ben stated that Bybit will not build prediction market products in-house due to global regulatory compliance challenges, but is exploring partnerships to offer a compliant solution.
Listed among CEXs and DeFi protocols whose positions can be utilized as margin in Spark Prime's institutional DeFi product for hedge funds.
Offers 2x cashback points on Bybit Card transactions at restaurants, luxury hotels, and beauty & wellness merchants from February 21, 2026 until March 12, 2026, stacking on standard tiered cashback, with a limited-edition heart-inspired card design.
Integrated with Bybit, including Bybit Onchain Earn for Mantle vault yields. Participated in SuperMantle Content Arena with Solana, byreal, and Alpha, ending 2026-03-03.
Mantle Vaults crossed $150M, powered by CIAN protocol, with DeFi TVL on Mantle increasing from $258M to $585M.
Launches a $150,000 airdrop campaign with Valentine's Day referral bonuses and exclusive prizes.
A single trader was liquidated for $10 million on Bybit as part of $261 million in total liquidations across the platform in the past 24 hours, with 106,000 traders liquidated.
Enabled SOSO deposits on ValueChain, with withdrawals to open once liquidity requirements are met.
Experienced a 16% decrease in spot trading volume in January 2026 compared to December 2025.
Released its 30th Proof of Reserves report, confirming all major assets are backed 1:1 with some reserves exceeding user holdings.
Appointed Yoyee Wang as Head of Business-to-Business.
Sold 2,160 BTC in a coordinated market dump occurring over 20 minutes alongside multiple exchanges.
Integrated Aave V3 on Mantle through Earn product, routing CeFi liquidity into RWAs, staking, and onchain yield products. Aave V3 achieved over $700M total market size within two weeks of launch.
Lists AZTEC token for spot trading.
Launched ESP/USDT Pre-Market Perpetual trading on February 10, 2026, at 10:10 AM UTC.
Suffered $1.5 billion hack on February 21, 2025, the largest crypto hack ever, via social engineering, device compromise, AWS S3 breach, and Safe{Wallet} hijacking, impacting trading volume performance throughout the year.
Offers up to 11% APY on XAUT through Flexible Earn product with flexible withdrawals.
Enabled NIGHT token deposits on BNB Smart Chain Network, with withdrawals to open once liquidity requirements are met.
Runs XAUUSD+ price prediction contest from February 9-15, 2026, offering 30 prizes of 10 USDT each for predicting the closing price on February 16, 2026.
Mentioned as a supported exchange for withdrawing XRP and RLUSD to external wallets in a guide about Doppler Finance yield vaults.
Released 28th Proof of Reserves report with snapshot date January 27, 2026, showing user BTC holdings at approximately 60,500 BTC (down 4.25% from December 17), user ETH holdings at approximately 470,000 ETH (down 12.44%), and user USDT holdings at approximately 6.226 billion USDT (up 2.88%).
Sold 7,800 BTC in a 30-minute period on February 5, 2026.
Listed three U.S. equities (MU, COHR, LITE) on Bybit TradFi, powered by Infra Capital (Mauritius FSC licensed).
Rumors circulate alleging insolvency, prompting warnings to withdraw funds from the exchange.
Launched a VIP reactivation program offering up to 3% extra APR on new net deposits and access to a 2,000,000 USDT trading rewards pool for former VIP users.
Presented at India Digital Summit 2026 in Bengaluru on February 3, 2026, with Senior Director of Policy sharing insights on AI's role in finance security, compliance, and customer experiences.
Partnered with AltCryptoGems and AltCryptoCast.
Hosts a HotSpot campaign offering 25,000 ZETA tokens as rewards for completing tasks, running until February 9, 2026, 9:59 AM UTC.
Listed TRIA token on Bybit Spot trading.
Listing PENGUIN token on the Bybit spot trading platform, with deposit and trading functionality enabled.
Listed INX perpetual contract (INXUSDT) on pre-market platform starting January 29, 2026, at 9:30 AM UTC.
Enabled deposits for 0G token on Zero Gravity Network, with withdrawals to open once liquidity requirements are met.
Referenced as a potential takeover target in 2026 market speculation, with hypothetical HYPE token price targets above $60 if Hyperliquid captures Bybit's market share.
Optimized Mark Price mechanism to filter pricing anomalies after the October 11, 2025 market crash, adding a new insurance pool.
Offers retail bank accounts with personal IBANs for USD and 18 other fiat currencies, with rollout February 2026.
Offers full deposit and withdrawal support for MNT on Solana.
Mentioned as a supported withdrawal destination for Hurupay's stablecoin neobank platform alongside Binance and Coinbase.
A newly created wallet withdrew 800 XAUT (worth $4.22M) from Bybit on 2026-01-28 at approximately 02:48 UTC.
Launched a trading and deposit promotion with a 4,000,000 BIRB prize pool for users trading or depositing BIRB.
Listed BIRB token for spot trading on Bybit, Alpha, and Byreal platforms.
Enabled direct AED deposits from UAE bank accounts, offering over AED 300 in rewards for depositing AED 400. Launched AED trading pairs.
Lists USA₮ (USAT), a new federally regulated dollar-backed stablecoin issued by Anchorage Digital Bank under the GENIUS Act framework.
Bybit recorded 3.3 million weekly visits, ranking 7th among major crypto exchanges by this metric.
Offers a $100 XAUT-USDT Trial Fund incentive program for users who deposit $100 and trade $500.
Recorded over $250 million in newly minted mETH on the platform within a 30-day period.
Listed PYBOBO token on Bybit Spot trading.
Running a creator rewards program for crypto-experienced content creators from January 26, 2026 until February 22, 2026.
Received a deposit of 200,000 SOL (approximately $25.44M) from Galaxy Digital on 2026-01-25.
A Pendle investor or team address transferred 1.8 million PENDLE tokens (worth $3.83 million) to Bybit on January 22, 2026, after holding them for three years since unlocking from the vesting contract between April 2022 and April 2023.
Powers cash prizes for Fantasy Crypto League (FCL), a prediction-style crypto fantasy game created by CastilloTrading, offering thousands in official prizes and community league rewards.
Running a 200,000 SKR giveaway campaign in partnership with Solana Mobile for users trading SKR via Spot or Convert, ending on 2026-01-28 at 10:00 UTC.
Supports deposits and withdrawals for XAUT0 on the Monad network.
Lists Seeker (SKR) token on spot trading.
Enables access to XAUT (Tether Gold) on Mantle Network with lower fees and faster transfers.
Listed SPORTFUN futures trading.
Listed IMU (Immunefi token) for spot trading, scheduled for 2026-01-22 at 14:00 UTC.
Hosting a live keynote event with CEO on January 29, 2026 at 8AM UTC, featuring a 10,000 USDT giveaway and presenting the company's vision for 2026.
Sold 3,339 BTC within one hour as part of a coordinated market-wide distribution event on January 19, 2026.
Announced token listing for HeyElsaAI.
Relocated headquarters to Dubai, UAE, operating within Dubai's regulatory sandbox through VARA, establishing risk control standards replicated in European, African, and Latin American markets.
Integrated with Replicate to enable copy trading strategies, with traders able to launch and followers able to copy strategies on the platform.
Listed 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.