Bybit Clears the Air on Exchange Tokens, Expands in Amsterdam

• Bybit clarifies BIT as BitDAO’s governance token, not an exchange token.
• Mantle proposes MIP-27 to address FTX Group’s $BIT token migration controversy.
• Bybit expands into the Dutch market, opening a new office in Amsterdam.

Bybit has set the record straight on BIT tokens as discussions heat up within the crypto community. In a recent X post, Igneus Terrenus, Bybit’s Head of Communications, stressed that the company has never issued one. He explained that BIT is BitDAO’s governance token, not Bybit’s.

Additionally, the BIT tokens held by Alameda Research are currently unable to migrate to MNT, and a legal process is determining their status.

This situation has sparked debate among Mantle community members regarding the migration of $BIT tokens held by the FTX Group. In response, Mantle Governance proposed a new policy, MIP-27, to clarify the migration terms.

The proposal, building on MIP-22, sta…

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