Blockchain Press Releases
INEOS QUATTRO FINANCE 2 PLC ANNOUNCES CASH TENDER OFFER FOR ANY AND ALL OF ITS 3 3/8% SENIOR SECURED NOTES DUE 2026
LONDON, Oct. 30, 2023 /PRNewswire/ — INEOS Quattro Finance 2 Plc (the “Offeror“), a company incorporated under the laws of England and Wales, announces today an offer to purchase any and all of its outstanding U.S.$500,000,000 33/8% Senior Secured Notes due 2026 (the “Securities“), issued by the Offeror and guaranteed by INEOS Quattro Holdings Limited (“IQHL“), a company incorporated under the laws of England and Wales and certain of its subsidiaries, for cash (the “Offer“). The terms and conditions of the Offer are described in an offer to purchase dated October 30, 2023 (the “Offer to Purchase“). Capitalized terms not otherwise defined in this announcement have the same meaning as assigned to them in the Offer to Purchase.
Holders are advised to read carefully the Offer to Purchase for full details of, and information on the procedures for participating in, the Offer.
The following table sets forth certain information relating to pricing for the Offer.
|
Title of Security  |
ISIN |
CUSIP |
Principal Amount |
Maturity Date |
Purchase Price per |
Amount subject to |
|
33/8% Senior Secured Notes due 2026 |
US45674GAA22 / USG4772GAA34 |
45674G AA2 / G4772G AA3 |
U.S.$500,000,000(1) |
January 15, 2026 |
U.S.$950 |
Any and all |
|
Note: |
||||||
Purpose of the Offer
The purpose of the Offer is, amongst other things, to proactively manage the Offeror’s expected maturity profile. The Offer also provides Holders with the opportunity to sell their current holdings in the Securities, as more fully described in the Offer to Purchase.
The Offer
The Offeror will pay a Purchase Price per U.S.$1,000 principal amount of Securities validly tendered and not validly withdrawn prior to the Expiration Deadline (including those validly tendered in accordance with the Guaranteed Delivery Procedures) equal to U.S.$950. In addition, the Offeror will pay accrued and unpaid interest on the Securities purchased pursuant to the Offer from (and including) the immediately preceding interest payment date, and up to (but excluding), the Settlement Date (“Accrued Interest“).
The Purchase Price and the Accrued Interest for the Securities validly tendered (and not validly withdrawn) in the Offer will be paid on the Settlement Date (subject to the right of the Offeror to extend the Expiration Deadline and delay the acceptance of Tender Instructions as set out in the Offer to Purchase). If a Holder tenders less than the full amount of its holding of Securities, Tender Instructions must be submitted in respect of a principal amount of Securities so that the principal amount of any Securities held by such Holder after tendering is no less than the Minimum Denomination or an integral multiple of U.S.$1,000 above such Minimum Denomination. The “Minimum Denomination” is U.S.$200,000.
The Offer is not conditioned on any minimum amount of Securities being tendered. The Offeror’s obligation to accept and pay for Securities in the Offer is, however, subject to the satisfaction or waiver of the General Conditions and the condition that the Offeror and/or subsidiaries of IQHL shall have completed the New Debt Financing on terms satisfactory to the Offeror in its sole discretion, with aggregate net proceeds of at least €2,800,000,000 (equivalent) (the “Financing Condition“).
Announcements in connection with the Offer will be made by issuing a press release to a widely disseminated news or wire service. Copies of all such announcements, press releases and notices will also be available from the Tender & Information Agent. All documentation relating to the Offer, together with any updates, will also be available on the Offer Website https://deals.is.kroll.com/ineosquattrousd operated by the Tender & Information Agent for the purpose of the Offer.
A tender of Securities for purchase pursuant to the Offer should be made by the submission of a valid Tender Instruction. If any Holder wishes to tender its Securities but such Holder cannot comply with the procedures for the submission of a valid Tender Instruction prior to the Expiration Deadline, such Holder may tender its Securities according to the Guaranteed Delivery Procedures, as set out in the Offer to Purchase.
Securities purchased by the Offeror pursuant to the Offer are expected to be immediately canceled. Securities that have not been validly tendered and/or accepted for purchase, or which have been tendered and validly withdrawn, pursuant to the Offer will remain outstanding after the Settlement Date.
INDICATIVE TIMETABLE
This is an indicative timetable showing one possible outcome for the timing of the Offer based on the dates in the Offer to Purchase. This timetable is subject to change and dates and times may be extended, re-opened or amended by the Offeror in accordance with the terms of the Offer as described in the Offer to Purchase. Accordingly, the actual timetable may differ from the timetable below.
|
Date and Time |
Action |
|
October 30, 2023……………………… |
Commencement of the Offer |
|
Offer to Purchase available from the Tender & Information Agent and on the Offer Website. Offer announced through a press release to a recognized financial news service in the manner described under “Terms and Conditions of the Offer—Announcements” in the Offer to Purchase. |
|
|
November 8, 2023, 5:00 p.m. (New York City time)………………………………………. |
Expiration Deadline |
|
The last time and date for Holders to submit Tender Instructions (or, where applicable, Notices of Guaranteed Delivery) in order to be able to participate in the Offer and to be eligible to receive the Purchase Price and Accrued Interest on the Settlement Date. |
|
|
November 8, 2023, 5:00 p.m. (New York City time)………………………………………. |
Withdrawal Deadline |
|
Deadline for Holders to properly withdraw tenders of their Securities (or, where applicable, Notices of Guaranteed Delivery). If a tender of Securities (or, where applicable, a Notice of Guaranteed Delivery) is properly withdrawn, the Holder will not receive any consideration on the Settlement Date (unless that Holder validly re-tenders such Securities at or prior to the Expiration Deadline and the Securities are accepted by the Offeror). |
|
|
November 9, 2023……………………. |
Announcement of Results of the Offer |
|
The Offeror expects to announce the aggregate principal amount of Securities to be accepted for purchase pursuant to the Offer (assuming that Securities tendered in accordance with the Guaranteed Delivery Procedures are validly delivered by the Guaranteed Delivery Deadline). |
|
|
November 13, 2023, 5:00 p.m. (New York City time)………………………………………. |
Guaranteed Delivery Deadline |
|
The last time and date for Holders to validly deliver Securities in respect of which a Notice of Guaranteed Delivery was delivered at or prior to the Expiration Deadline. |
|
|
Expected to be November 14, 2023………………………………………. |
Settlement Date |
|
Settlement Date for Securities validly tendered and accepted for purchase by the Offeror (including pursuant to the Guaranteed Delivery Procedures). Payment of the Purchase Price and any Accrued Interest in respect of any such Securities. |
Subject to applicable securities laws and the terms set within the Offer to Purchase, the Offeror reserves the right, with respect to the Offer made by it, (i) to waive or modify in whole or in part any and all conditions to the Offer, (ii) to extend the Withdrawal Deadline and/or the Expiration Deadline, (iii) to modify or terminate the Offer or (iv) to otherwise amend the Offer in any respect. In the event that the Offer is terminated or otherwise not completed, the Purchase Price relating to the Securities subject to the Offer will not be paid or become payable, without regard to whether Holders have validly tendered their Securities (in which case such tendered Securities will be promptly returned to the Holders).
Holders are advised to check with any bank, securities broker or other intermediary through which they hold Securities when such intermediary would require to receive instructions from a Holder in order for that Holder to be able to participate in, or to validly withdraw their instruction to participate in, the Offer before the deadlines specified above.
FURTHER INFORMATION
Holders of Securities may access the Offer to Purchase and the form of Notice of Guaranteed Delivery at https://deals.is.kroll.com/ineosquattrousd.
This announcement is released by INEOS Quattro Finance 2 Plc and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of MAR, encompassing information relating to the Offer described above. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055 (including as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 (as amended), this announcement is made by Dirk Arhelger, Head of Investor Relations at INEOS Quattro Finance 2 Plc.
Questions and requests for assistance in connection with the Offer may be directed to Goldman Sachs International, HSBC Bank plc or ING Bank N.V., London Branch:
Goldman Sachs International
Plumtree Court
25 Shoe Lane
London EC4A 4AU
United Kingdom
Telephone: +44 20 7774 4836
Attention: Liability Management Group
Email: liabilitymanagement.eu@gs.com
HSBC Bank plc
8 Canada Square
London, E14 5HQ
United Kingdom
Europe: +44 (0) 20 7992 6237
U.S. Toll-Free: +1 (888) HSBC-4LM
U.S.: +1 (212) 525-5552
Email: [email protected]
Attention: Liability Management, DCM
ING Bank N.V., London Branch
8-10 Moorgate
London EC2R 6DA
United Kingdom
Telephone: +44 20 7767 6784
Email: [email protected]
Attention: Liability Management Group
BNP Paribas
Citigroup Global Markets Limited
J.P. Morgan Securities LLC
Questions and requests for assistance in connection with the tender of Securities including requests for a copy of the Offer to Purchase may be directed to:
TENDER & INFORMATION AGENT
Kroll Issuer Services Limited
The Shard, 32 London Bridge Street
London SE1 9SG
United Kingdom
Tel: +44 20 7704 0880
Attention: Owen Morris / Alessandro Zorza
E-mail: [email protected]
Offer Website: https://deals.is.kroll.com/ineosquattrousd
NOTICE AND DISCLAIMER
Whether or not the purchase of any Securities pursuant to the Offer is completed, the Offeror, IQHL or any of their respective subsidiaries or affiliates may, to the extent permitted by applicable law, acquire Securities other than pursuant to the Offer, including through open market purchases, privately negotiated transactions, tender offers, exchange offers, redemptions or otherwise. Such purchases may be on such terms and at such prices as the Offeror or, if applicable, IQHL or any of their respective subsidiaries or affiliates may determine, which may be more or less than the prices to be paid pursuant to the Offer and could be for cash or other consideration or otherwise on terms more or less favorable than those contemplated by the Offer. Any future purchases of Securities by the Offeror or any of its affiliates will depend on various factors existing at the relevant time. There can be no assurance that the Offeror or any of its affiliates will pursue any such future offers to purchase or as to the structure or terms (or combinations thereof) of any such future offers to purchase.
This announcement must be read in conjunction with the Offer to Purchase. This announcement and the Offer to Purchase contain important information which must be read carefully before any decision is made with respect to the Offer. If any Holder is in any doubt as to the action it should take or is unsure of the impact of the Offer, it is recommended to seek its own financial, legal or tax advice, including as to any tax consequences, from its stockbroker, bank manager, attorney, accountant or other independent financial, legal or tax adviser. Any individual or company whose Securities are held on its behalf by a broker, dealer, bank, custodian, trust company or other nominee or intermediary must contact such entity if it wishes to tender Securities in the Offer (or to validly withdraw any such tender). None of the Dealer Managers, the Tender & Information Agent, the Offeror, IQHL, nor any director, officer, employee, agent or affiliate of, any such person makes any recommendation whether Holders should tender Securities in the Offer.
Information Regarding Forward-Looking Statements
This announcement contains both historical and forward-looking statements. These forward-looking statements are not historical facts, but only predictions and generally can be identified by use of statements that include phrases such as “will,” “may,” “should,” “could,” “continue,” “anticipate,” “believe,” “expect,” “plan,” “probability,” “appear,” “project,” “estimate,” “intend,” “risk,” “target,” “goal,” “endeavor,” “outlook,” “optimistic,” “prospects” or other words or phrases of similar import. Similarly, statements that describe our objectives, plans or goals also are forward-looking statements. All statements that address the Offeror’s or IQHL’s future operating performance or events or developments that they expect or anticipate will occur in the future are forward-looking statements.
These forward-looking statements are based on the Offeror’s or IQHL’s then current plans, estimates and projections and are subject to risks and uncertainties that could cause actual results to differ materially from those currently anticipated. Factors that could materially affect these forward-looking statements can be found in the Offer to Purchase under the heading “Risk Factors.” Holders are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements included in this announcement are made only as of the date of this announcement, and the Offeror undertakes no obligation to update publicly these forward-looking statements to reflect new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events might or might not occur. The Offeror cannot assure you that projected results or events will be achieved.
OFFER AND DISTRIBUTION RESTRICTIONS
This announcement and the Offer to Purchase do not constitute an offer or an invitation to participate in the Offer in any jurisdiction in which, or to any person to or from whom, it is unlawful to make such offer or invitation or for there to be such participation under applicable laws. The distribution of this announcement and the Offer to Purchase in certain jurisdictions may be restricted by law. Persons into whose possession this announcement or the Offer to Purchase comes are required by the Offeror, the Dealer Managers and the Tender & Information Agent to inform themselves about and to observe any such restrictions.
United Kingdom
The Offer to Purchase and any other documents or materials relating to the Offer are only addressed to Holders where they would (if they were clients of the Offeror) be per se professional clients or per se eligible counterparties of the Offeror within the meaning of the rules of the Financial Conduct Authority (FCA). Neither the Offer to Purchase nor any other documents or materials are addressed to or directed at any persons who would be retail clients within the meaning of the FCA rules and any such persons should not act or rely on them. Recipients of the Offer to Purchase and any other documents or materials relating to the Offer should note that the Offeror is acting on its own account in relation to the Offer and will not be responsible to any other person for providing the protections which would be afforded to clients of the Offeror or for providing advice in relation to the Offer.
The communication of the Offer to Purchase and any other documents or materials relating to the Offer are not being made and such documents have not been approved by an authorised person for the purposes of section 21 of the Financial Services and Markets Act 2000, as amended (the “FSMA“). Accordingly, the Offer to Purchase, such documents and/or other materials are not being distributed to, and must not be passed on to, the general public in the United Kingdom. Accordingly, the Offer to Purchase and the communication of all such documents and/or materials relating to the Offer are exempt from the restriction on financial promotions under Section 21 of the FSMA on the basis that they are only directed at and may only be communicated (i) to those persons in the United Kingdom falling within the definition of investment professionals (as defined in Article 19(5) of the Financial Promotion Order)), (ii) to those persons who are within Article 43(2) of the Financial Promotion Order, including existing members and creditors of either of the Offeror, (iii) to those persons who are outside of the United Kingdom, or (iv) to any other persons to whom they may otherwise lawfully be made under the Financial Promotion Order (all such persons together being referred to as “Relevant Persons“) and the transactions contemplated herein will be available only to, and engaged in only with, Relevant Persons. Any person who is not a Relevant Person should not act on or rely on the Offer to Purchase.
EEA
In the EEA, this announcement and the Offer will not, directly or indirectly, be made to, or for the account of, any person other than to qualified investors within the meaning of Article 2(e) of the Prospectus Regulation.
Neither this announcement nor the Offer to Purchase nor any other documentation or material relating to the Offer has been or will be submitted to a competent authority in the EEA for approval. Therefore, neither the Offer to Purchase nor any other documentation or material relating to the Offer qualifies as an approved prospectus as meant in Article 6 of the Prospectus Regulation.
Accordingly, in the EEA, the Offer may not be made by way of an “offer of securities to the public” within the meaning of Article 2(d) of the Prospectus Regulation and the Offer may not be promoted and is not being made to, any person in the EEA (with the exception of “qualified investors” within the meaning of Article 2(e) in conjunction with Article 1(4)(a) of the Prospectus Regulation). This announcement, the Offer to Purchase and any other documentation or materials relating to the Offer (including memoranda, information circulars, brochures or similar documents) have not been forwarded or made available to, and are not being forwarded or made available to, directly or indirectly, any such person.
With regard to the EEA, this announcement and the Offer to Purchase have been transmitted only for personal use by the aforementioned qualified investors and only for the purpose of the Offer. Accordingly, the information contained in this announcement and the Offer to Purchase may not be used for any other purpose or be transmitted to any other person in the EEA.
Belgium
None of this announcement, the Offer to Purchase or any other documents or materials relating to the Offer have been submitted to or will be submitted for approval or recognition to the Financial Services and Markets Authority (Autorité des services et marchés financiers / Autoriteit voor financiële diensten en markten) and, accordingly, the Offer may not be made in the Kingdom of Belgium by way of a public offering, as defined in Articles 3 and 6 of the Belgian Law of April 1, 2007 on public takeover bids as amended or replaced from time to time. Accordingly, the Offer may not be advertised and the Offer will not be extended, and none of this announcement, the Offer to Purchase or any other documents or materials relating to the Offer (including any memorandum, information circular, brochure or any similar documents) has been or shall be distributed or made available, directly or indirectly, to any person in the Kingdom of Belgium other than “qualified investors” in the sense of Article 2(e) of the Prospectus Regulation, acting on their own account. This announcement and/or the Offer to Purchase have been issued only for the personal use of the above qualified investors and exclusively for the purpose of the Offer. Accordingly, the information contained in this announcement and/or the Offer to Purchase may not be used for any other purpose or disclosed to any other person in the Kingdom of Belgium.
France
This announcement, the Offer to Purchase and any other documents or offering materials relating to the Offer may not be distributed in the Republic of France except to qualified investors (investisseurs qualifiés) as defined in Article 2(e) of the Prospectus Regulation. The Offer to Purchase has not been and will not be submitted for clearance to the Autorité des marchés financiers.
Italy
None of the Offer, this announcement, the Offer to Purchase or any other documents or materials relating to the Offer has been or will be submitted to the clearance procedure of the CONSOB, pursuant to applicable Italian laws and regulations.
The Offer is being carried out in the Republic of Italy (“Italy“) as an exempted offer pursuant to article 101-bis, paragraph 3-bis of the Legislative Decree No. 58 of February 24, 1998, as amended (the “Financial Services Act“) and article 35-bis, paragraph 4 of CONSOB Regulation No. 11971 of May 14, 1999, as amended (the “Issuers’ Regulation“). The Offer is also being carried out in compliance with article 35-bis, paragraph 7 of the Issuers’ Regulation.
Holders or beneficial owners of the Securities located in the Republic of Italy can tender the Securities through authorized persons (such as investment firms, banks or financial intermediaries permitted to conduct such activities in the Republic of Italy in accordance with the Financial Services Act, CONSOB Regulation No. 20307 of February 15, 2018, as amended from time to time, and Legislative Decree No. 385 of September 1, 1993, as amended) and in compliance with applicable laws and regulations or with requirements imposed by CONSOB or any other Italian authority.
Spain
None of the Offer, this announcement or the Offer to Purchase constitutes an offer of securities to the public in Spain under Regulation (EU) 2017/1129 or a tender offer in Spain under the restated text of the Spanish Securities Market Act approved by Royal Legislative Decree 4/2015, of 23 October, and under Royal Decree 1066/2007, of 27 July, all of them as amended, and any regulation issued thereunder.
Accordingly, neither this announcement nor the Offer of Purchase have been or will be submitted for approval nor approved by the Spanish Securities Market Commission (Comision Nacional del Mercado de Valores).
Switzerland
A public offer within the meaning of the Swiss Financial Services Act (“FinSA“) may not be directly or indirectly made in Switzerland with respect to the Securities. Therefore, none of this announcement, the Offer or any other offering or marketing material relating to the Securities constitutes a prospectus as such term is understood pursuant to article 35 FinSA or a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange. Accordingly, the investor protection rules otherwise applicable to investors in Switzerland do not apply to the Offer. When in doubt, investors based in Switzerland are recommended to contact their legal, financial or tax adviser with respect to the Offer.
Luxembourg
The terms and conditions relating to this announcement and/or the Offer to Purchase have not been approved by and will not be submitted for approval to the Luxembourg Financial Services Authority (Commission de Surveillance du Secteur Financier) for purposes of public offering in the Grand Duchy of Luxembourg (“Luxembourg“). Accordingly, the Offer may not be made to the public in Luxembourg, directly or indirectly, and none of this announcement, the Offer to Purchase or any other prospectus, form of application, advertisement or other material may be distributed, or otherwise made available in or from, or published in, Luxembourg except in circumstances which do not constitute a public offer of securities to the public, subject to prospectus requirements, in accordance with the Luxembourg Act of 10 July 2005 on prospectuses for securities.
General
This announcement is for informational purposes only and shall not constitute an offer to buy or the solicitation of an offer to sell Securities in any circumstances in which such offer or solicitation is unlawful. The Offer is being made only pursuant to the Offer to Purchase and only in such jurisdictions as is permitted under applicable law. Please see the Offer to Purchase for certain important information on offer restrictions applicable to the Offer.
THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014, AS AMENDED (AND INCLUDING AS IT FORMS PART OF UNITED KINGDOM DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED) (“MAR”).
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Blockchain Press Releases
Bybit’s CEO Meets with Vietnam’s Minister of Finance to Support Regulatory Sandbox and Strengthen Crypto Compliance
DUBAI, UAE, April 19, 2025 /PRNewswire/ — Ben Zhou, Co-founder and CEO of Bybit, one of the world’s second-largest cryptocurrency exchanges by trading volume, met with H.E. Nguyen Van Thang, Minister of Finance of Vietnam, to express Bybit’s strong support for the country’s regulatory sandbox initiative and its vision to build a safe, transparent, and innovation-friendly digital asset ecosystem.
Hosted at the Ministry of Finance headquarters, the meeting centered on Vietnam’s efforts to establish a comprehensive legal framework for crypto assets. Minister Nguyen Van Thang outlined the Government’s plan to launch a pilot sandbox mechanism that will allow regulators to test the issuance and trading of crypto assets in a controlled environment. This initiative is designed to mitigate risks, strengthen investor protection, and ensure regulatory readiness before introducing official legislation.
A key part of the discussion focused on safeguarding the market against illicit activities. The Minister emphasized the importance of robust compliance frameworks, including Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols, to prevent the misuse of digital assets and support the country’s financial security.
In response, Ben Zhou welcomed Vietnam’s measured and responsible approach to digital asset regulation and reiterated Bybit’s long-standing commitment to compliance:
“Vietnam’s forward-thinking regulatory sandbox is a critical step toward unlocking the full potential of blockchain technology. At Bybit, we are fully aligned with the Government’s focus on investor protection and financial integrity,” said Ben Zhou, Co-founder and CEO of Bybit. “We are proud to share our expertise in KYC, AML, and global compliance standards, and we look forward to supporting Vietnam in building a resilient, secure, and dynamic crypto economy.”
Bybit expressed its readiness to collaborate with Vietnamese authorities on several fronts, including system architecture design, transaction oversight, and the implementation of international best practices in AML/KYC. The exchange also proposed support in capacity building, such as training financial regulators and sharing experiences from other jurisdictions.
Minister Nguyen Van Thang welcomed Bybit’s proactive approach and assigned the State Securities Commission to coordinate with Bybit on concrete proposals. He also commended Bybit’s reputation for strong financial capabilities, technological resilience, and its adherence to legal and regulatory requirements in the markets where it operates.
This meeting underscores Bybit’s growing role as a trusted international partner for regulatory dialogue and innovation. It also highlights Vietnam’s readiness to embrace blockchain technology while ensuring financial safety and public confidence in the digital asset space.
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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View original content:https://www.prnewswire.co.uk/news-releases/bybits-ceo-meets-with-vietnams-minister-of-finance-to-support-regulatory-sandbox-and-strengthen-crypto-compliance-302432942.html
DUBAI, UAE, April 18, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is making waves with its latest trading showdown: Crypto Surf: Ride the Waves with Trailing Stops. This high-octane competition invites traders to rally behind either copy trading or trading bots, battling it out for their share of a prize pool worth up to $250,000 in USDT.
Running from April 18 to May 19, 2025, at 12 a.m. UTC, the event introduces a squad-based structure where users choose their camp, trade strategically, and compete across PnL, ROI and trading volume leaderboards. With a dynamic reward structure, participants can also win by predicting which squad will come out on top.
Prize Pool Distribution Highlights:
- 40% to the champion squad
- 30% to the runner-up
- 25% to the top 100 individual traders by volume
- 5% to users who correctly predict the winning squad
The event brings together the best of both worlds: the strategic finesse of copy trading and the automated power of trading bots. It celebrates innovation, user choice, and the thrill of crypto trading.
Participants must hold a minimum wallet balance of $1,000 in USDT, generate at least $10,000 in squad volume, and complete identity verification Level 1 to qualify. Users can only register for one squad and vote once to predict the winner. Rewards will be distributed within 14 business days of the event’s completion.
The total prize pool will scale in line with event volume milestones, starting at $1.2 billion and unlocking up to $2 billion in traded volume for the full $250,000 in USDT.
Bybit continues to redefine the competitive trading landscape – bringing fun, strategy and serious rewards to its global community.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open, and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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Blockchain Press Releases
Tomorrowland Brasil 2025 General Sale in Full Swing — Exclusive Cashback for Bybit Cardholders
DUBAI, UAE, April 18, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, highlights that general ticket sales for Tomorrowland Brasil 2025 are currently ongoing, with exclusive benefit available to Bybit Card and Bybit Pay eligible users such as 20% cashback.
The Bybit Card is designed for global use and supports both fiat currencies—ARS, BRL, EUR, USD—and a wide selection of cryptocurrencies. Integrated with Apple Pay, Google Pay, and Samsung Pay, it offers users up to 10% cashback on everyday purchases, 8% APR through Auto-Savings, free worldwide delivery, and $100 in monthly ATM withdrawals at no cost—without any annual fees.
Returning to the vibrant setting of Parque Maeda in Itu, São Paulo, Tomorrowland Brasil 2025 will take place from October 12 to 14, promising three days of music, imagination, and cultural exchange. Famed for its theatrical stages, global audience, and meticulously curated lineup, Tomorrowland is more than a festival—it’s a world of its own. With each edition, it transforms into a breathtaking playground of light, sound, and storytelling, drawing music lovers from over 100 countries to celebrate unity through electronic music.
This year’s Brazilian edition will feature performances from some of the world’s most sought-after artists, including David Guetta, Armin van Buuren, Vintage Culture, Mind Against, Steve Aoki, James Hype, Alesso, Nervo, and I Hate Models. Special acts include Alok’s “Something Else” concept, ANNA b2b Vintage Culture, and a powerful b2b set from Matisse & Sadko and Third Party. With more names still to be revealed, the event is shaping up to be one of the strongest editions yet.
“Tomorrowland Brasil is one of those rare experiences that transcends music—it creates lasting memories and connects people from every walk of life,” said Joan Han, Head of Payment business unit at Bybit. “We’re proud to support this global celebration by offering our users exclusive benefits that make it easier to be part of something truly unforgettable.”
Tomorrowland Brasil continues to be a beacon of creativity, community, and connection, standing at the intersection of music, technology, and art.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
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About TOMORROWLAND BRASIL
Tomorrowland Brasil 2025 will take place on October 10-12 in the beautiful festival area of Parque Maeda in Itu, a municipality in São Paulo. The festival will revolve around the mesmerizing ‘LIFE’ theme, set against the backdrop of Brazil’s enchanting natural beauty. A story set in the mythical realm of Silvyra, it’s a world unto its own, filled with creatures, plant life, and people living in harmony, each with their own stories, with the diversity of Silvyra’s lush nature represented in the spectacular ‘LIFE’ Mainstage. Offering the ultimate escape from the city during three days of bliss, guests will be treated to breathtaking performances by more than 150 of the world’s finest electronic artists across 6 mesmerizing stages.
The first two festival editions of Tomorrowland Brasil took place in 2015 and 2016 in the beautiful festival area of Parque Maeda in Itu, São Paulo. After years of dreaming of a return, Tomorrowland finally headed back to Brazil in 2023, becoming a yearly highlight once again.
Tomorrowland Brasil 2025
October 10-12, 2025
Parque Maeda, Itu
brasil.tomorrowland.com
Photo – https://mma.prnewswire.com/media/2668248/Image_2025_04_18_10_29_43.jpg
Logo – https://mma.prnewswire.com/media/2668249/BybitxTML_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/tomorrowland-brasil-2025-general-sale-in-full-swing–exclusive-cashback-for-bybit-cardholders-302432402.html
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