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Bybit Strengthens Institutional Reach with New Leadership Appointment

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DUBAI, UAE, Sept. 12, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, today announced the appointment of Chris Aruliah as Head of Institution. Chris brings a wealth of experience and a proven track record in both cryptocurrency and trading industries, having held leadership roles at renowned exchanges such as Bitstamp and BCB.

With his deep understanding of the institutional market, Chris will spearhead Bybit’s efforts to attract and service a diverse range of institutional clients, including hedge funds, asset managers, brokers, market makers, family offices, etc. His strategic acumen and ability to foster strong relationships will be invaluable in expanding Bybit’s institutional footprint across various sectors and geographies.

“As the cryptocurrency market continues to mature and institutional interest surges, Bybit is uniquely positioned to capitalize on this growth. Our commitment to providing a secure, reliable, and compliant trading platform, combined with Chris’s expertise, makes us a trusted partner for institutions navigating the evolving landscape,” added Helen Liu, Chief Operating Officer at Bybit.

In his new role, Chris will be responsible for developing and executing Bybit’s institutional strategy, identifying new opportunities, and delivering tailored solutions to meet the evolving demands of sophisticated clients. His appointment underscores Bybit’s unwavering commitment to providing a world-class trading platform for institutional investors.

Chris Aruliah, Head of Institution at Bybit, commented: “I’m thrilled to join Bybit at this pivotal moment in the evolution of the cryptocurrency market. By leveraging my experience in the institutional space, I’m confident in my ability to drive Bybit’s growth and position it as a leading exchange for sophisticated investors.”

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“My mission at Bybit is to ensure that our institutional clients have the best possible trading experience in the industry. By showcasing Bybit’s compelling platform and the exceptional support provided by our team, I aim to attract new clients and help them realize their full trading potential on our platform,” Chris added.

Prior to joining Bybit, Chris served as an institutional client, leading OTC sales at Wincent. His firsthand experience as a client provides him with invaluable insights into the specific needs and challenges faced by institutional investors.

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected].
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

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Mysterious Trader Makes $150,000 Profit in 3 Hours From Just $2,956: Blockchain Analysis

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A new Ethereum meme coin, Pochita ($POCHITA), has made headlines after skyrocketing in value shortly after its launch. According to on-chain data, one trader turned an initial investment of $3,000 into $150,000 in under three hours, reflecting a near-5000% profit. This rapid surge has drawn comparisons to other meme coins like Bonk ($BONK), which gained significant attention in the Solana ecosystem.

Pochita launched on October 2, 2024, quickly reaching a $20 million market cap within 9 hours, despite the broader crypto market contracting by 2.9% over the past 24 hours. The meme coin sector also dipped 3.2%, now valued at $47.5 billion. Despite the falling prices, Pochita’s rapid rise suggests strong investor sentiment around meme coins remains, especially following recent Federal Reserve interest rate cuts.

Though meme coins are known for their volatility and lack of clear fundamentals, they can provide quick gains for traders. Pochita is being discussed as a potential successor to Bonk, and if it continues its growth, it could join the ranks of other top meme coins like Dogecoin, Shiba Inu, and Pepe Coin.

At the same time, other projects such as Crypto All-Stars ($STARS) are providing new avenues for meme coin holders by offering a unified staking platform where users can stake various meme coins and earn rewards. Crypto All-Stars has already raised over $1.9 million in its presale, indicating strong interest in platforms that provide utility and passive income opportunities for meme coin enthusiasts.

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Source: cryptonews.com

The post Mysterious Trader Makes $150,000 Profit in 3 Hours From Just $2,956: Blockchain Analysis appeared first on HIPTHER Alerts.

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Binance warns of crypto market risks from overvaluation, centralization

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A recent Binance report highlights critical risks in the cryptocurrency market, warning of the dangers posed by inflated valuations and centralized token ownership. The report cautions that if these issues remain unaddressed, they could destabilize the long-term stability and growth of the crypto industry.

Valuation Concerns: The report emphasizes that overvaluation, particularly in newly launched tokens with low circulating supply, could lead to market bubbles and poor performance. Venture capital funds, which once aggressively invested in crypto, are now scaling back and shifting focus to sectors with more sustainable valuations. As the market becomes saturated with new tokens, the circulating supply could increase exponentially, further straining performance.

Centralization of Token Ownership: Binance also flags the risks of centralization, where large tokenholders dominate ownership. This concentration of power can result in governance issues, market manipulation, and potential crashes caused by sudden sell-offs. The report stresses the need for decentralized control and broad participation to maintain the integrity and resilience of crypto projects.

Transparency and Trust: To mitigate these risks, the report underscores the importance of transparency in fund management. A lack of clear disclosures can erode stakeholder trust and harm project sustainability. Binance notes that greater transparency, like the adoption of proof-of-reserves by platforms such as Coinbase, is crucial for fostering responsible financial management and building long-term trust in the market.

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In conclusion, the report urges the crypto industry to prioritize decentralized governance and transparency to ensure sustainable growth and maintain market confidence.

Source: cointelegraph.com

The post Binance warns of crypto market risks from overvaluation, centralization appeared first on HIPTHER Alerts.

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COPA, Unified Patents Partner to Fight Crypto Patent Trolls

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The Cryptocurrency Open Patent Alliance (COPA) has teamed up with Unified Patents to launch the Blockchain Zone initiative, aimed at combating “patent trolls” in the crypto industry. Patent trolls, or non-practicing entities (NPEs), are known for exploiting patent rights through litigation rather than developing new technologies. COPA and Unified Patents aim to prevent such entities from hindering blockchain innovation by making costly and baseless patent assertions.

The initiative is designed to safeguard blockchain and related technologies from these unwarranted patent claims, fostering an environment where developers and companies can innovate freely without fear of legal threats. Key figures in the partnership, such as Paul Grewal from Coinbase and Steve Lee from Spiral, emphasize that patent trolls create significant barriers to technological progress, especially in the fast-evolving crypto space.

By aligning with over 300 companies through Unified Patents, COPA’s effort strengthens its mission to protect the blockchain community and the broader crypto-economy from the disruptive impact of NPEs, ensuring that blockchain innovation remains open and accessible.

Source: news.bitcoin.com

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The post COPA, Unified Patents Partner to Fight Crypto Patent Trolls appeared first on HIPTHER Alerts.

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