Blockchain
Bybit Puts Crypto Transparency in the Spotlight
Recent market concerns highlight the need for the Industry to step up
Victoria, Seychelles–(Newsfile Corp. – November 9, 2022) – Bybit, the world’s third most visited crypto exchange, has said that recent market volatility is a wake up call for the industry and that customer confidence and market stability should be top priority for every exchange. Bybit also highlighted that the recent uncertainty had shone the spotlight on fund safety, custodianship, and transparency, and the industry would have to tackle this head on.
“The entire sector has a duty and obligation to do better by our customers,” said Ben Zhou, Bybit co-founder and CEO. “Bybit has always been a leader in this area and provides one of the highest levels of fund safety and security in the industry – But we can also do better.”
Zhou also stressed Bybit’s stance towards customer funds. “Bybit is NOT a bank, we are a custodian of our customers’ funds. We do not use those funds for any other purpose! Bybit can guarantee that all clients assets are stored in one to one liquidity held in custody – available in full, on request, and without delay if requested.”
Bybit commended industry moves to provide greater reassurance for customers as they navigate a volatile market. Bybit has long advocated for an industry wide standard on transparency that would help to provide greater trust and credibility for the industry and confidence for customers and regulators.
The company also said that despite its trust and security credentials, it expected to establish a Proof of Reserve programme in the near future – as an example of best practice for other exchanges and a symbol of its ongoing commitment to open and transparent trading.
Looking to the future Zhou added, “We are here for the long run and place a strong emphasis on staying focused and strict processes, policies, compliance, and our overarching risk management strategy. As we navigate the bear market, we are building out our products and frontline staff – preparing for a fast start when the market turns.”
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About Bybit
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR), City Esports, and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.
For media inquiries, please contact: [email protected]
For more information please visit: https://www.bybit.com/
Contact:
Dan Edelstein
[email protected]
For updates, please follow Bybit’s social media platforms on
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Bybit (@bybit_official) TikTok | Watch Bybit’s Newest TikTok Videos
Telegram: Contact @BybitEnglish
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/143582
According to a report from CoinTelegraph, nearly forty percent of institutional investors in Canada have exposure to cryptocurrency, as revealed by KPMG. This finding underscores the growing acceptance and adoption of digital assets among institutional investors in the country.
The report indicates that a significant portion of institutional investors in Canada are actively investing in or exploring opportunities in the cryptocurrency market. This trend reflects a shift in sentiment towards digital assets, with more investors recognizing the potential for long-term growth and diversification offered by cryptocurrencies.
KPMG’s findings highlight the increasing mainstream acceptance of cryptocurrencies among traditional investors, as well as the growing interest in blockchain technology and its potential applications across various industries. As institutional investors continue to enter the cryptocurrency market, they are expected to bring additional capital and liquidity, further fueling the growth and maturation of the digital asset ecosystem.
Overall, KPMG’s report signals a significant milestone in the adoption of cryptocurrencies in Canada, indicating that institutional investors are increasingly recognizing the value proposition of digital assets and integrating them into their investment portfolios. This trend is likely to accelerate the broader adoption and mainstream acceptance of cryptocurrencies in the country and beyond.
Source: cointelegraph.com
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Blockchain
BounceBit (BB) Megadrop Now Open: Participate by Subscribing to BNB Locked Products or Completing Web3 Quests
The BounceBit (BB) Megadrop is now open for participation, as announced by Blockchain.News. This event presents an exciting opportunity for users to earn BB tokens by engaging in various activities, including subscribing to BNB locked products and completing Web3 quests.
Participants can join the BB Megadrop by subscribing to BNB locked products or completing Web3 quests, both of which offer different avenues for earning BB tokens. By participating in these activities, users have the chance to accumulate BB tokens and potentially benefit from the rewards associated with the Megadrop.
Subscribing to BNB locked products allows users to earn BB tokens by locking their BNB assets for a specified period. This not only provides users with an opportunity to earn rewards but also contributes to the liquidity and stability of the BounceBit ecosystem.
Additionally, completing Web3 quests offers users an alternative way to earn BB tokens by engaging in various tasks and challenges related to Web3 technology. These quests provide users with a fun and interactive way to learn about blockchain and cryptocurrency while earning rewards in the form of BB tokens.
Overall, the BB Megadrop presents an exciting opportunity for users to participate in the BounceBit ecosystem and earn rewards by engaging in activities that contribute to the growth and development of the platform. As the Megadrop progresses, participants can look forward to additional opportunities to earn BB tokens and potentially benefit from the rewards associated with this event.
Source: blockchain.news
The post BounceBit (BB) Megadrop Now Open: Participate by Subscribing to BNB Locked Products or Completing Web3 Quests appeared first on HIPTHER Alerts.
Cronos, a prominent blockchain platform, has announced a collaboration with KYVE aimed at revolutionizing blockchain data, as reported by CryptoNewsZ. This partnership represents a significant step forward in enhancing the efficiency and scalability of blockchain data storage and retrieval.
The collaboration between Cronos and KYVE seeks to leverage KYVE’s decentralized data storage and retrieval solution to enhance the capabilities of the Cronos blockchain platform. By integrating KYVE’s technology, Cronos aims to address the challenges associated with storing and accessing large volumes of data on the blockchain, such as scalability and cost-effectiveness.
KYVE’s decentralized data storage solution utilizes a network of distributed nodes to store and retrieve data, ensuring high availability and reliability. This approach not only improves the efficiency of data storage and retrieval but also enhances the security and resilience of the blockchain network.
The partnership between Cronos and KYVE is expected to unlock new possibilities for decentralized applications (dApps) and smart contracts built on the Cronos platform. By providing a more efficient and scalable solution for blockchain data management, Cronos aims to attract developers and enterprises seeking to leverage blockchain technology for a wide range of applications.
Overall, the collaboration between Cronos and KYVE represents a significant development in the blockchain industry, highlighting the importance of innovation and collaboration in driving the evolution of decentralized technologies. As the partnership progresses, it is poised to deliver transformative benefits for blockchain data management and accelerate the adoption of decentralized applications and services.
Source: cryptonewsz.com
The post Cronos collaborates with KYVE to revolutionize Blockchain Data appeared first on HIPTHER Alerts.
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