Bybit Cuts 30% of Jobs in "Deepening Bear Market"

[{"selector":"#anim-8072412e-168b-44e6-8a1f-47a9f8263de2 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.235351448636845%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Ben Zhou, CEO of cryptocurrency exchange Bybit, said the company plans to cut 30% of its staff.

[{"selector":"#anim-72ccbe87-c4b2-4b06-b2e4-c55802362145 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(5.35913731211118%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] The changes are part of an ongoing reorganisation to refocus efforts.

[{"selector":"#anim-d2ef5022-2eb3-4a16-8840-a9c7bc71fb07 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(35.20891149984248%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] Sunday, Zhou said cuts will be across-the-board to protect corporate operations and client assets.

[{"selector":"#anim-01b449b6-ba4d-4104-bd6a-a5a10e2fbb9f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.20166006038629%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Bybit is one of CoinMarketCap's top 10 crypto exchanges.

[{"selector":"#anim-5769da1a-1bb6-4dcd-bb91-1362f521e03a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(19.769122865158636%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] “Bybit is here for the long run,” Zhou wrote in a Thursday blog post.

[{"selector":"#anim-4bdd844a-3a19-4916-a6c4-af479bab1573 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(2.50000003915002%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] The Formula One 2021 and 2022 world champions were the exchange's largest crypto sponsorship.

[{"selector":"#anim-19fba8b6-3905-431d-93de-40a4b11e9167 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(46.400786781410346%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] He also announced a $100 million institution support fund. Learn more