• Bybit’s rapid ascent to the second-largest global crypto exchange position, fueled by targeting former FTX clients and expanding into European and Russian markets.
• Growth driven by unique services like cross-margin trading with over 160 tokens, catering to a diverse user base.
• Strategic expansions in regulatory-friendly regions like Georgia and Kazakhstan, amid tightening global crypto regulations.

Bybit, the Dubai-based cryptocurrency exchange, has rapidly ascended to become the world’s second-largest, capitalizing on the void left by the collapse of FTX and also from the broader crypto market recovery.

Founded in Dubai, Bybit has capitalized on these opportunities in offering margin trading services that accept digital tokens as collateral, filling the gap left by FTX’s downfall.

Bybit’s trading volume share has doubled to 16% since October, surpassing industry giant Coinbase Global Inc. and trailing only Binance Holdings Ltd. in global rankings for spot and derivatives transactions, according to Kaiko data. The exchange’s growth coincides with a broader recovery in the cryptocurrency market, driven by Bitcoin’s price surge and the introduction of dedica…

The post The Rise of Bybit: The Crypto Exchange That’s Taking on the Giants appeared first on Coin Edition.

• Bybit’s rapid ascent to the second-largest global crypto exchange position, fueled by targeting former FTX clients and expanding into European and Russian markets.
• Growth driven by unique services like cross-margin trading with over 160 tokens, catering to a diverse user base.
• Strategic expansions in regulatory-friendly regions like Georgia and Kazakhstan, amid tightening global crypto regulations.

Bybit, the Dubai-based cryptocurrency exchange, has rapidly ascended to become the world’s second-largest, capitalizing on the void left by the collapse of FTX and also from the broader crypto market recovery.

Founded in Dubai, Bybit has capitalized on these opportunities in offering margin trading services that accept digital tokens as collateral, filling the gap left by FTX’s downfall.

Bybit’s trading volume share has doubled to 16% since October, surpassing industry giant Coinbase Global Inc. and trailing only Binance Holdings Ltd. in global rankings for spot and derivatives transactions, according to Kaiko data. The exchange’s growth coincides with a broader recovery in the cryptocurrency market, driven by Bitcoin’s price surge and the introduction of dedica…

The post The Rise of Bybit: The Crypto Exchange That’s Taking on the Giants appeared first on Coin Edition.