16:16 - 28.06.2024

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June 28, Fineko/abc.az. The cryptocurrency exchange managed by Bibi Fintech has risen to the 2nd place in the world in terms of trading volume.

ABC.AZ reports with reference to Bloomberg that the exchange attracted former clients of the defunct FTX platform, as well as users from Russia and Europe.

According to Kaiko, since October, the share of Ebit in trading volume has doubled and reached 16%, which helped it beat the American leader Coinbase in March. Now Bybit is 2nd only to Binance Holdings in terms of spot and derivative transactions.

Ben Zhou, co-founder and CEO of the company, stated that “the growth of Bybit was caused by the fact that the company filled the gap left by FTX” and provided a service that allows using digital tokens as collateral for margin trading.