Market makers and high-frequency trading firms may use the $100 million support fund, according to the announcement released by Bybit on November 24. The money will be given to qualified candidates with no interest.
Institutional traders must be active on Bybit or other exchanges to qualify. Each applicant can receive up to $10 million, and the money must be used for spot and perpetual USDT trading on Bybit.
Bybit CEO and co-founder Ben Zhou stated:
“We are all in this together, and it’s up to everyone to do what they can to support our industry and this is one way we are helping to give back.”
The bankruptcy filing of the crypto exchange FTX earlier this month set off a chain reaction throughout the already ailing market, forcing other businesses to issue a warning about deteriorating liquidity shortages.
In an interview with Bloomberg yesterday, Changpeng Zhao, the CEO of Binance, stated that the company aims to raise $1 billion for a recovery fund to acquire troubled crypto assets.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
Coincu News
BlockDAG crosses $170.5M in presale success with BDAG250 bonus and Whitepaper V3 launch! Solana grows…
Discover why Qubetics, Toncoin, and XRP are the best coins to invest in right now.…
Over the years, meme coins have evolved from inside jokes into serious investment opportunities.
Discover BlockDAG's five-tier bonus program's closing phases that enhance buyer holdings. Gain insights on the…
Discover why Qubetics, Solana, and Cardano are redefining the crypto landscape. Learn about milestones, price…
Discover why Qubetics, NEAR Protocol, and Immutable X are the best altcoins to join today,…
This website uses cookies.