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Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n

New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n

The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$

Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n

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\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
See Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

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Follow The Distributed

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\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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August 19, 2024

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Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

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Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Argentina Approves Bybit’s VASP Registration As Country Tightens Crypto Laws

August 19, 2024

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Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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November 24, 2024

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Follow The Distributed

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\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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August 19, 2024

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November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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By subscribing, you agree with our privacy and terms.

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Follow The Distributed

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\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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August 19, 2024

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November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Follow The Distributed

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\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Speculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Follow The Distributed

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\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\n
Speculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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August 19, 2024

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Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

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November 24, 2024

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By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Bybit, the fourth largest exchange by trading volumes, is planning to halt US dollar deposits and withdrawals, including those through SWIFT, over what it has termed an outage from an end-point processing partner. The suspension would remain on until further communication.<\/p>\n\n\n\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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August 19, 2024

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Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Bybit joins other exchanges like Binance, forced to end USD transactions, partly due to regulatory pressure.<\/li>\n<\/ul>\n\n\n\n
Bybit, the fourth largest exchange by trading volumes, is planning to halt US dollar deposits and withdrawals, including those through SWIFT, over what it has termed an outage from an end-point processing partner. The suspension would remain on until further communication.<\/p>\n\n\n\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Adoption

Argentina Approves Bybit’s VASP Registration As Country Tightens Crypto Laws

August 19, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

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Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
It comes at a time the crypto space continues to digest the implications of the troubles facing Silvergate.<\/li>\n\n\n\n
Bybit joins other exchanges like Binance, forced to end USD transactions, partly due to regulatory pressure.<\/li>\n<\/ul>\n\n\n\n
Bybit, the fourth largest exchange by trading volumes, is planning to halt US dollar deposits and withdrawals, including those through SWIFT, over what it has termed an outage from an end-point processing partner. The suspension would remain on until further communication.<\/p>\n\n\n\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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\n
\n
It comes at a time the crypto space continues to digest the implications of the troubles facing Silvergate.<\/li>\n\n\n\n
Bybit joins other exchanges like Binance, forced to end USD transactions, partly due to regulatory pressure.<\/li>\n<\/ul>\n\n\n\n
Bybit, the fourth largest exchange by trading volumes, is planning to halt US dollar deposits and withdrawals, including those through SWIFT, over what it has termed an outage from an end-point processing partner. The suspension would remain on until further communication.<\/p>\n\n\n\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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August 19, 2024

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November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632911504776519680\n<\/div><\/figure>\n","post_title":"Bybit Teams Up with Mastercard to Launch Revolutionary Crypto Debit Card","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-teams-up-with-mastercard-to-launch-revolutionary-crypto-debit-card","to_ping":"","pinged":"","post_modified":"2023-03-07 23:37:04","post_modified_gmt":"2023-03-07 12:37:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10282","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10266,"post_author":"13","post_date":"2023-03-06 23:37:10","post_date_gmt":"2023-03-06 12:37:10","post_content":"\n
\n
It comes at a time the crypto space continues to digest the implications of the troubles facing Silvergate.<\/li>\n\n\n\n
Bybit joins other exchanges like Binance, forced to end USD transactions, partly due to regulatory pressure.<\/li>\n<\/ul>\n\n\n\n
Bybit, the fourth largest exchange by trading volumes, is planning to halt US dollar deposits and withdrawals, including those through SWIFT, over what it has termed an outage from an end-point processing partner. The suspension would remain on until further communication.<\/p>\n\n\n\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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By subscribing, you agree with our privacy and terms.

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Follow The Distributed

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\n
Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632911504776519680\n<\/div><\/figure>\n","post_title":"Bybit Teams Up with Mastercard to Launch Revolutionary Crypto Debit Card","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-teams-up-with-mastercard-to-launch-revolutionary-crypto-debit-card","to_ping":"","pinged":"","post_modified":"2023-03-07 23:37:04","post_modified_gmt":"2023-03-07 12:37:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10282","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10266,"post_author":"13","post_date":"2023-03-06 23:37:10","post_date_gmt":"2023-03-06 12:37:10","post_content":"\n
\n
It comes at a time the crypto space continues to digest the implications of the troubles facing Silvergate.<\/li>\n\n\n\n
Bybit joins other exchanges like Binance, forced to end USD transactions, partly due to regulatory pressure.<\/li>\n<\/ul>\n\n\n\n
Bybit, the fourth largest exchange by trading volumes, is planning to halt US dollar deposits and withdrawals, including those through SWIFT, over what it has termed an outage from an end-point processing partner. The suspension would remain on until further communication.<\/p>\n\n\n\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Adoption

Argentina Approves Bybit’s VASP Registration As Country Tightens Crypto Laws

August 19, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

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Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n
Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632911504776519680\n<\/div><\/figure>\n","post_title":"Bybit Teams Up with Mastercard to Launch Revolutionary Crypto Debit Card","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-teams-up-with-mastercard-to-launch-revolutionary-crypto-debit-card","to_ping":"","pinged":"","post_modified":"2023-03-07 23:37:04","post_modified_gmt":"2023-03-07 12:37:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10282","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10266,"post_author":"13","post_date":"2023-03-06 23:37:10","post_date_gmt":"2023-03-06 12:37:10","post_content":"\n
\n
It comes at a time the crypto space continues to digest the implications of the troubles facing Silvergate.<\/li>\n\n\n\n
Bybit joins other exchanges like Binance, forced to end USD transactions, partly due to regulatory pressure.<\/li>\n<\/ul>\n\n\n\n
Bybit, the fourth largest exchange by trading volumes, is planning to halt US dollar deposits and withdrawals, including those through SWIFT, over what it has termed an outage from an end-point processing partner. The suspension would remain on until further communication.<\/p>\n\n\n\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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ADVERTISEMENT

\n
Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n
The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n
Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632911504776519680\n<\/div><\/figure>\n","post_title":"Bybit Teams Up with Mastercard to Launch Revolutionary Crypto Debit Card","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-teams-up-with-mastercard-to-launch-revolutionary-crypto-debit-card","to_ping":"","pinged":"","post_modified":"2023-03-07 23:37:04","post_modified_gmt":"2023-03-07 12:37:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10282","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10266,"post_author":"13","post_date":"2023-03-06 23:37:10","post_date_gmt":"2023-03-06 12:37:10","post_content":"\n
\n
It comes at a time the crypto space continues to digest the implications of the troubles facing Silvergate.<\/li>\n\n\n\n
Bybit joins other exchanges like Binance, forced to end USD transactions, partly due to regulatory pressure.<\/li>\n<\/ul>\n\n\n\n
Bybit, the fourth largest exchange by trading volumes, is planning to halt US dollar deposits and withdrawals, including those through SWIFT, over what it has termed an outage from an end-point processing partner. The suspension would remain on until further communication.<\/p>\n\n\n\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Adoption

Argentina Approves Bybit’s VASP Registration As Country Tightens Crypto Laws

August 19, 2024

Artificial Intelligence

Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n
Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n
The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n
Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632911504776519680\n<\/div><\/figure>\n","post_title":"Bybit Teams Up with Mastercard to Launch Revolutionary Crypto Debit Card","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-teams-up-with-mastercard-to-launch-revolutionary-crypto-debit-card","to_ping":"","pinged":"","post_modified":"2023-03-07 23:37:04","post_modified_gmt":"2023-03-07 12:37:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10282","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10266,"post_author":"13","post_date":"2023-03-06 23:37:10","post_date_gmt":"2023-03-06 12:37:10","post_content":"\n
\n
It comes at a time the crypto space continues to digest the implications of the troubles facing Silvergate.<\/li>\n\n\n\n
Bybit joins other exchanges like Binance, forced to end USD transactions, partly due to regulatory pressure.<\/li>\n<\/ul>\n\n\n\n
Bybit, the fourth largest exchange by trading volumes, is planning to halt US dollar deposits and withdrawals, including those through SWIFT, over what it has termed an outage from an end-point processing partner. The suspension would remain on until further communication.<\/p>\n\n\n\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Follow The Distributed

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\n
Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n
A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n
Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n
The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n
Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632911504776519680\n<\/div><\/figure>\n","post_title":"Bybit Teams Up with Mastercard to Launch Revolutionary Crypto Debit Card","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-teams-up-with-mastercard-to-launch-revolutionary-crypto-debit-card","to_ping":"","pinged":"","post_modified":"2023-03-07 23:37:04","post_modified_gmt":"2023-03-07 12:37:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10282","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10266,"post_author":"13","post_date":"2023-03-06 23:37:10","post_date_gmt":"2023-03-06 12:37:10","post_content":"\n
\n
It comes at a time the crypto space continues to digest the implications of the troubles facing Silvergate.<\/li>\n\n\n\n
Bybit joins other exchanges like Binance, forced to end USD transactions, partly due to regulatory pressure.<\/li>\n<\/ul>\n\n\n\n
Bybit, the fourth largest exchange by trading volumes, is planning to halt US dollar deposits and withdrawals, including those through SWIFT, over what it has termed an outage from an end-point processing partner. The suspension would remain on until further communication.<\/p>\n\n\n\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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August 19, 2024

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Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Consequently, exchanges are cracking down on the loopholes that allow brokerages to bundle customers to enjoy lower trading fees. Previously, Binance said its move was to ensure compliance and level the playing ground for its users. Bybit is the other exchange that is said to be monitoring the developments that are curtailing the brokerage multi-tiered fee structure.<\/p>\n","post_title":"OKX Follows Binance In Asking Trading Firms For Information About Their Clients","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"okx-follows-binance-in-asking-trading-firms-for-information-about-their-clients","to_ping":"","pinged":"","post_modified":"2024-07-23 19:24:41","post_modified_gmt":"2024-07-23 09:24:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17849","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n
Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n
A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n
Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n
The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n
Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632911504776519680\n<\/div><\/figure>\n","post_title":"Bybit Teams Up with Mastercard to Launch Revolutionary Crypto Debit Card","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-teams-up-with-mastercard-to-launch-revolutionary-crypto-debit-card","to_ping":"","pinged":"","post_modified":"2023-03-07 23:37:04","post_modified_gmt":"2023-03-07 12:37:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10282","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10266,"post_author":"13","post_date":"2023-03-06 23:37:10","post_date_gmt":"2023-03-06 12:37:10","post_content":"\n
\n
It comes at a time the crypto space continues to digest the implications of the troubles facing Silvergate.<\/li>\n\n\n\n
Bybit joins other exchanges like Binance, forced to end USD transactions, partly due to regulatory pressure.<\/li>\n<\/ul>\n\n\n\n
Bybit, the fourth largest exchange by trading volumes, is planning to halt US dollar deposits and withdrawals, including those through SWIFT, over what it has termed an outage from an end-point processing partner. The suspension would remain on until further communication.<\/p>\n\n\n\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Often, exchanges give their large customers discounted trading fees, allowing them to trade like VIPs on their platforms. This gives a loophole for prime brokerages to funnel multiple customers via a single account to qualify for lower fees. <\/p>\n\n\n\n
Consequently, exchanges are cracking down on the loopholes that allow brokerages to bundle customers to enjoy lower trading fees. Previously, Binance said its move was to ensure compliance and level the playing ground for its users. Bybit is the other exchange that is said to be monitoring the developments that are curtailing the brokerage multi-tiered fee structure.<\/p>\n","post_title":"OKX Follows Binance In Asking Trading Firms For Information About Their Clients","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"okx-follows-binance-in-asking-trading-firms-for-information-about-their-clients","to_ping":"","pinged":"","post_modified":"2024-07-23 19:24:41","post_modified_gmt":"2024-07-23 09:24:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17849","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n
Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n
A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n
Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n
The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n
Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632911504776519680\n<\/div><\/figure>\n","post_title":"Bybit Teams Up with Mastercard to Launch Revolutionary Crypto Debit Card","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-teams-up-with-mastercard-to-launch-revolutionary-crypto-debit-card","to_ping":"","pinged":"","post_modified":"2023-03-07 23:37:04","post_modified_gmt":"2023-03-07 12:37:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10282","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10266,"post_author":"13","post_date":"2023-03-06 23:37:10","post_date_gmt":"2023-03-06 12:37:10","post_content":"\n
\n
It comes at a time the crypto space continues to digest the implications of the troubles facing Silvergate.<\/li>\n\n\n\n
Bybit joins other exchanges like Binance, forced to end USD transactions, partly due to regulatory pressure.<\/li>\n<\/ul>\n\n\n\n
Bybit, the fourth largest exchange by trading volumes, is planning to halt US dollar deposits and withdrawals, including those through SWIFT, over what it has termed an outage from an end-point processing partner. The suspension would remain on until further communication.<\/p>\n\n\n\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
The OKX move is believed to be informed by similar interventions made at rival crypto exchange Binance<\/a>. Earlier this month, Binance altered its Link Plus Interface, eliminating a loophole that key trading firms used to offer rebates to clients.\u00a0<\/p>\n\n\n\n
Often, exchanges give their large customers discounted trading fees, allowing them to trade like VIPs on their platforms. This gives a loophole for prime brokerages to funnel multiple customers via a single account to qualify for lower fees. <\/p>\n\n\n\n
Consequently, exchanges are cracking down on the loopholes that allow brokerages to bundle customers to enjoy lower trading fees. Previously, Binance said its move was to ensure compliance and level the playing ground for its users. Bybit is the other exchange that is said to be monitoring the developments that are curtailing the brokerage multi-tiered fee structure.<\/p>\n","post_title":"OKX Follows Binance In Asking Trading Firms For Information About Their Clients","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"okx-follows-binance-in-asking-trading-firms-for-information-about-their-clients","to_ping":"","pinged":"","post_modified":"2024-07-23 19:24:41","post_modified_gmt":"2024-07-23 09:24:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17849","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n
Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n
A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n
Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n
The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n
Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632911504776519680\n<\/div><\/figure>\n","post_title":"Bybit Teams Up with Mastercard to Launch Revolutionary Crypto Debit Card","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-teams-up-with-mastercard-to-launch-revolutionary-crypto-debit-card","to_ping":"","pinged":"","post_modified":"2023-03-07 23:37:04","post_modified_gmt":"2023-03-07 12:37:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10282","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10266,"post_author":"13","post_date":"2023-03-06 23:37:10","post_date_gmt":"2023-03-06 12:37:10","post_content":"\n
\n
It comes at a time the crypto space continues to digest the implications of the troubles facing Silvergate.<\/li>\n\n\n\n
Bybit joins other exchanges like Binance, forced to end USD transactions, partly due to regulatory pressure.<\/li>\n<\/ul>\n\n\n\n
Bybit, the fourth largest exchange by trading volumes, is planning to halt US dollar deposits and withdrawals, including those through SWIFT, over what it has termed an outage from an end-point processing partner. The suspension would remain on until further communication.<\/p>\n\n\n\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
Closing Loophole Used By Prime Brokers To Enjoy Lower Fees<\/h2>\n\n\n\n
The OKX move is believed to be informed by similar interventions made at rival crypto exchange Binance<\/a>. Earlier this month, Binance altered its Link Plus Interface, eliminating a loophole that key trading firms used to offer rebates to clients.\u00a0<\/p>\n\n\n\n
Often, exchanges give their large customers discounted trading fees, allowing them to trade like VIPs on their platforms. This gives a loophole for prime brokerages to funnel multiple customers via a single account to qualify for lower fees. <\/p>\n\n\n\n
Consequently, exchanges are cracking down on the loopholes that allow brokerages to bundle customers to enjoy lower trading fees. Previously, Binance said its move was to ensure compliance and level the playing ground for its users. Bybit is the other exchange that is said to be monitoring the developments that are curtailing the brokerage multi-tiered fee structure.<\/p>\n","post_title":"OKX Follows Binance In Asking Trading Firms For Information About Their Clients","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"okx-follows-binance-in-asking-trading-firms-for-information-about-their-clients","to_ping":"","pinged":"","post_modified":"2024-07-23 19:24:41","post_modified_gmt":"2024-07-23 09:24:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17849","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n
Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n
A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n
Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n
The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n
Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632911504776519680\n<\/div><\/figure>\n","post_title":"Bybit Teams Up with Mastercard to Launch Revolutionary Crypto Debit Card","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-teams-up-with-mastercard-to-launch-revolutionary-crypto-debit-card","to_ping":"","pinged":"","post_modified":"2023-03-07 23:37:04","post_modified_gmt":"2023-03-07 12:37:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10282","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10266,"post_author":"13","post_date":"2023-03-06 23:37:10","post_date_gmt":"2023-03-06 12:37:10","post_content":"\n
\n
It comes at a time the crypto space continues to digest the implications of the troubles facing Silvergate.<\/li>\n\n\n\n
Bybit joins other exchanges like Binance, forced to end USD transactions, partly due to regulatory pressure.<\/li>\n<\/ul>\n\n\n\n
Bybit, the fourth largest exchange by trading volumes, is planning to halt US dollar deposits and withdrawals, including those through SWIFT, over what it has termed an outage from an end-point processing partner. The suspension would remain on until further communication.<\/p>\n\n\n\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
See Related: <\/em><\/strong>Binance, OKX, And Bybit Suspend USDT And USDC Deposits on Solana<\/a><\/p>\n\n\n\n
Closing Loophole Used By Prime Brokers To Enjoy Lower Fees<\/h2>\n\n\n\n
The OKX move is believed to be informed by similar interventions made at rival crypto exchange Binance<\/a>. Earlier this month, Binance altered its Link Plus Interface, eliminating a loophole that key trading firms used to offer rebates to clients.\u00a0<\/p>\n\n\n\n
Often, exchanges give their large customers discounted trading fees, allowing them to trade like VIPs on their platforms. This gives a loophole for prime brokerages to funnel multiple customers via a single account to qualify for lower fees. <\/p>\n\n\n\n
Consequently, exchanges are cracking down on the loopholes that allow brokerages to bundle customers to enjoy lower trading fees. Previously, Binance said its move was to ensure compliance and level the playing ground for its users. Bybit is the other exchange that is said to be monitoring the developments that are curtailing the brokerage multi-tiered fee structure.<\/p>\n","post_title":"OKX Follows Binance In Asking Trading Firms For Information About Their Clients","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"okx-follows-binance-in-asking-trading-firms-for-information-about-their-clients","to_ping":"","pinged":"","post_modified":"2024-07-23 19:24:41","post_modified_gmt":"2024-07-23 09:24:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17849","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n
Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n
A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n
Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n
The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n
Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632911504776519680\n<\/div><\/figure>\n","post_title":"Bybit Teams Up with Mastercard to Launch Revolutionary Crypto Debit Card","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-teams-up-with-mastercard-to-launch-revolutionary-crypto-debit-card","to_ping":"","pinged":"","post_modified":"2023-03-07 23:37:04","post_modified_gmt":"2023-03-07 12:37:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10282","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10266,"post_author":"13","post_date":"2023-03-06 23:37:10","post_date_gmt":"2023-03-06 12:37:10","post_content":"\n
\n
It comes at a time the crypto space continues to digest the implications of the troubles facing Silvergate.<\/li>\n\n\n\n
Bybit joins other exchanges like Binance, forced to end USD transactions, partly due to regulatory pressure.<\/li>\n<\/ul>\n\n\n\n
Bybit, the fourth largest exchange by trading volumes, is planning to halt US dollar deposits and withdrawals, including those through SWIFT, over what it has termed an outage from an end-point processing partner. The suspension would remain on until further communication.<\/p>\n\n\n\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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August 19, 2024

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Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

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November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS

ADVERTISEMENT

\n
\"A failure to do so may result in undisclosed subaccounts being restricted from trading and\/or subaccount closure.\"<\/em><\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance, OKX, And Bybit Suspend USDT And USDC Deposits on Solana<\/a><\/p>\n\n\n\n
Closing Loophole Used By Prime Brokers To Enjoy Lower Fees<\/h2>\n\n\n\n
The OKX move is believed to be informed by similar interventions made at rival crypto exchange Binance<\/a>. Earlier this month, Binance altered its Link Plus Interface, eliminating a loophole that key trading firms used to offer rebates to clients.\u00a0<\/p>\n\n\n\n
Often, exchanges give their large customers discounted trading fees, allowing them to trade like VIPs on their platforms. This gives a loophole for prime brokerages to funnel multiple customers via a single account to qualify for lower fees. <\/p>\n\n\n\n
Consequently, exchanges are cracking down on the loopholes that allow brokerages to bundle customers to enjoy lower trading fees. Previously, Binance said its move was to ensure compliance and level the playing ground for its users. Bybit is the other exchange that is said to be monitoring the developments that are curtailing the brokerage multi-tiered fee structure.<\/p>\n","post_title":"OKX Follows Binance In Asking Trading Firms For Information About Their Clients","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"okx-follows-binance-in-asking-trading-firms-for-information-about-their-clients","to_ping":"","pinged":"","post_modified":"2024-07-23 19:24:41","post_modified_gmt":"2024-07-23 09:24:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17849","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n
Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n
A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n
Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n
The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n
Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632911504776519680\n<\/div><\/figure>\n","post_title":"Bybit Teams Up with Mastercard to Launch Revolutionary Crypto Debit Card","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-teams-up-with-mastercard-to-launch-revolutionary-crypto-debit-card","to_ping":"","pinged":"","post_modified":"2023-03-07 23:37:04","post_modified_gmt":"2023-03-07 12:37:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10282","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10266,"post_author":"13","post_date":"2023-03-06 23:37:10","post_date_gmt":"2023-03-06 12:37:10","post_content":"\n
\n
It comes at a time the crypto space continues to digest the implications of the troubles facing Silvergate.<\/li>\n\n\n\n
Bybit joins other exchanges like Binance, forced to end USD transactions, partly due to regulatory pressure.<\/li>\n<\/ul>\n\n\n\n
Bybit, the fourth largest exchange by trading volumes, is planning to halt US dollar deposits and withdrawals, including those through SWIFT, over what it has termed an outage from an end-point processing partner. The suspension would remain on until further communication.<\/p>\n\n\n\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
The information needs to be provided by July 17. A letter accompanying the request reads in part:<\/p>\n\n\n\n
\"A failure to do so may result in undisclosed subaccounts being restricted from trading and\/or subaccount closure.\"<\/em><\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance, OKX, And Bybit Suspend USDT And USDC Deposits on Solana<\/a><\/p>\n\n\n\n
Closing Loophole Used By Prime Brokers To Enjoy Lower Fees<\/h2>\n\n\n\n
The OKX move is believed to be informed by similar interventions made at rival crypto exchange Binance<\/a>. Earlier this month, Binance altered its Link Plus Interface, eliminating a loophole that key trading firms used to offer rebates to clients.\u00a0<\/p>\n\n\n\n
Often, exchanges give their large customers discounted trading fees, allowing them to trade like VIPs on their platforms. This gives a loophole for prime brokerages to funnel multiple customers via a single account to qualify for lower fees. <\/p>\n\n\n\n
Consequently, exchanges are cracking down on the loopholes that allow brokerages to bundle customers to enjoy lower trading fees. Previously, Binance said its move was to ensure compliance and level the playing ground for its users. Bybit is the other exchange that is said to be monitoring the developments that are curtailing the brokerage multi-tiered fee structure.<\/p>\n","post_title":"OKX Follows Binance In Asking Trading Firms For Information About Their Clients","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"okx-follows-binance-in-asking-trading-firms-for-information-about-their-clients","to_ping":"","pinged":"","post_modified":"2024-07-23 19:24:41","post_modified_gmt":"2024-07-23 09:24:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17849","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n
Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n
A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n
Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n
The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n
Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632911504776519680\n<\/div><\/figure>\n","post_title":"Bybit Teams Up with Mastercard to Launch Revolutionary Crypto Debit Card","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-teams-up-with-mastercard-to-launch-revolutionary-crypto-debit-card","to_ping":"","pinged":"","post_modified":"2023-03-07 23:37:04","post_modified_gmt":"2023-03-07 12:37:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10282","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10266,"post_author":"13","post_date":"2023-03-06 23:37:10","post_date_gmt":"2023-03-06 12:37:10","post_content":"\n
\n
It comes at a time the crypto space continues to digest the implications of the troubles facing Silvergate.<\/li>\n\n\n\n
Bybit joins other exchanges like Binance, forced to end USD transactions, partly due to regulatory pressure.<\/li>\n<\/ul>\n\n\n\n
Bybit, the fourth largest exchange by trading volumes, is planning to halt US dollar deposits and withdrawals, including those through SWIFT, over what it has termed an outage from an end-point processing partner. The suspension would remain on until further communication.<\/p>\n\n\n\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Crypto exchange OKX wants prime brokerages to provide more information about their clients. Reports<\/a> indicate that the exchange asked for details about the subaccounts, the entities or individuals under them, and their jurisdiction.<\/p>\n\n\n\n
The information needs to be provided by July 17. A letter accompanying the request reads in part:<\/p>\n\n\n\n
\"A failure to do so may result in undisclosed subaccounts being restricted from trading and\/or subaccount closure.\"<\/em><\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance, OKX, And Bybit Suspend USDT And USDC Deposits on Solana<\/a><\/p>\n\n\n\n
Closing Loophole Used By Prime Brokers To Enjoy Lower Fees<\/h2>\n\n\n\n
The OKX move is believed to be informed by similar interventions made at rival crypto exchange Binance<\/a>. Earlier this month, Binance altered its Link Plus Interface, eliminating a loophole that key trading firms used to offer rebates to clients.\u00a0<\/p>\n\n\n\n
Often, exchanges give their large customers discounted trading fees, allowing them to trade like VIPs on their platforms. This gives a loophole for prime brokerages to funnel multiple customers via a single account to qualify for lower fees. <\/p>\n\n\n\n
Consequently, exchanges are cracking down on the loopholes that allow brokerages to bundle customers to enjoy lower trading fees. Previously, Binance said its move was to ensure compliance and level the playing ground for its users. Bybit is the other exchange that is said to be monitoring the developments that are curtailing the brokerage multi-tiered fee structure.<\/p>\n","post_title":"OKX Follows Binance In Asking Trading Firms For Information About Their Clients","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"okx-follows-binance-in-asking-trading-firms-for-information-about-their-clients","to_ping":"","pinged":"","post_modified":"2024-07-23 19:24:41","post_modified_gmt":"2024-07-23 09:24:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17849","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n
Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n
A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n
Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n
The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n
Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632911504776519680\n<\/div><\/figure>\n","post_title":"Bybit Teams Up with Mastercard to Launch Revolutionary Crypto Debit Card","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-teams-up-with-mastercard-to-launch-revolutionary-crypto-debit-card","to_ping":"","pinged":"","post_modified":"2023-03-07 23:37:04","post_modified_gmt":"2023-03-07 12:37:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10282","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10266,"post_author":"13","post_date":"2023-03-06 23:37:10","post_date_gmt":"2023-03-06 12:37:10","post_content":"\n
\n
It comes at a time the crypto space continues to digest the implications of the troubles facing Silvergate.<\/li>\n\n\n\n
Bybit joins other exchanges like Binance, forced to end USD transactions, partly due to regulatory pressure.<\/li>\n<\/ul>\n\n\n\n
Bybit, the fourth largest exchange by trading volumes, is planning to halt US dollar deposits and withdrawals, including those through SWIFT, over what it has termed an outage from an end-point processing partner. The suspension would remain on until further communication.<\/p>\n\n\n\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Argentina Approves Bybit’s VASP Registration As Country Tightens Crypto Laws

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Follow The Distributed

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\n
The move is believed to curtail a multi-tiered fee system loophole used by prime brokerages.<\/li>\n<\/ul>\n\n\n\n
Crypto exchange OKX wants prime brokerages to provide more information about their clients. Reports<\/a> indicate that the exchange asked for details about the subaccounts, the entities or individuals under them, and their jurisdiction.<\/p>\n\n\n\n
The information needs to be provided by July 17. A letter accompanying the request reads in part:<\/p>\n\n\n\n
\"A failure to do so may result in undisclosed subaccounts being restricted from trading and\/or subaccount closure.\"<\/em><\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance, OKX, And Bybit Suspend USDT And USDC Deposits on Solana<\/a><\/p>\n\n\n\n
Closing Loophole Used By Prime Brokers To Enjoy Lower Fees<\/h2>\n\n\n\n
The OKX move is believed to be informed by similar interventions made at rival crypto exchange Binance<\/a>. Earlier this month, Binance altered its Link Plus Interface, eliminating a loophole that key trading firms used to offer rebates to clients.\u00a0<\/p>\n\n\n\n
Often, exchanges give their large customers discounted trading fees, allowing them to trade like VIPs on their platforms. This gives a loophole for prime brokerages to funnel multiple customers via a single account to qualify for lower fees. <\/p>\n\n\n\n
Consequently, exchanges are cracking down on the loopholes that allow brokerages to bundle customers to enjoy lower trading fees. Previously, Binance said its move was to ensure compliance and level the playing ground for its users. Bybit is the other exchange that is said to be monitoring the developments that are curtailing the brokerage multi-tiered fee structure.<\/p>\n","post_title":"OKX Follows Binance In Asking Trading Firms For Information About Their Clients","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"okx-follows-binance-in-asking-trading-firms-for-information-about-their-clients","to_ping":"","pinged":"","post_modified":"2024-07-23 19:24:41","post_modified_gmt":"2024-07-23 09:24:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17849","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n
Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n
A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n
Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n
The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n
Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632911504776519680\n<\/div><\/figure>\n","post_title":"Bybit Teams Up with Mastercard to Launch Revolutionary Crypto Debit Card","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-teams-up-with-mastercard-to-launch-revolutionary-crypto-debit-card","to_ping":"","pinged":"","post_modified":"2023-03-07 23:37:04","post_modified_gmt":"2023-03-07 12:37:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10282","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10266,"post_author":"13","post_date":"2023-03-06 23:37:10","post_date_gmt":"2023-03-06 12:37:10","post_content":"\n
\n
It comes at a time the crypto space continues to digest the implications of the troubles facing Silvergate.<\/li>\n\n\n\n
Bybit joins other exchanges like Binance, forced to end USD transactions, partly due to regulatory pressure.<\/li>\n<\/ul>\n\n\n\n
Bybit, the fourth largest exchange by trading volumes, is planning to halt US dollar deposits and withdrawals, including those through SWIFT, over what it has termed an outage from an end-point processing partner. The suspension would remain on until further communication.<\/p>\n\n\n\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Prime brokerages have to supply the information by July 17.<\/li>\n\n\n\n
The move is believed to curtail a multi-tiered fee system loophole used by prime brokerages.<\/li>\n<\/ul>\n\n\n\n
Crypto exchange OKX wants prime brokerages to provide more information about their clients. Reports<\/a> indicate that the exchange asked for details about the subaccounts, the entities or individuals under them, and their jurisdiction.<\/p>\n\n\n\n
The information needs to be provided by July 17. A letter accompanying the request reads in part:<\/p>\n\n\n\n
\"A failure to do so may result in undisclosed subaccounts being restricted from trading and\/or subaccount closure.\"<\/em><\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance, OKX, And Bybit Suspend USDT And USDC Deposits on Solana<\/a><\/p>\n\n\n\n
Closing Loophole Used By Prime Brokers To Enjoy Lower Fees<\/h2>\n\n\n\n
The OKX move is believed to be informed by similar interventions made at rival crypto exchange Binance<\/a>. Earlier this month, Binance altered its Link Plus Interface, eliminating a loophole that key trading firms used to offer rebates to clients.\u00a0<\/p>\n\n\n\n
Often, exchanges give their large customers discounted trading fees, allowing them to trade like VIPs on their platforms. This gives a loophole for prime brokerages to funnel multiple customers via a single account to qualify for lower fees. <\/p>\n\n\n\n
Consequently, exchanges are cracking down on the loopholes that allow brokerages to bundle customers to enjoy lower trading fees. Previously, Binance said its move was to ensure compliance and level the playing ground for its users. Bybit is the other exchange that is said to be monitoring the developments that are curtailing the brokerage multi-tiered fee structure.<\/p>\n","post_title":"OKX Follows Binance In Asking Trading Firms For Information About Their Clients","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"okx-follows-binance-in-asking-trading-firms-for-information-about-their-clients","to_ping":"","pinged":"","post_modified":"2024-07-23 19:24:41","post_modified_gmt":"2024-07-23 09:24:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17849","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n
Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n
A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n
Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n
The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n
Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632911504776519680\n<\/div><\/figure>\n","post_title":"Bybit Teams Up with Mastercard to Launch Revolutionary Crypto Debit Card","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-teams-up-with-mastercard-to-launch-revolutionary-crypto-debit-card","to_ping":"","pinged":"","post_modified":"2023-03-07 23:37:04","post_modified_gmt":"2023-03-07 12:37:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10282","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10266,"post_author":"13","post_date":"2023-03-06 23:37:10","post_date_gmt":"2023-03-06 12:37:10","post_content":"\n
\n
It comes at a time the crypto space continues to digest the implications of the troubles facing Silvergate.<\/li>\n\n\n\n
Bybit joins other exchanges like Binance, forced to end USD transactions, partly due to regulatory pressure.<\/li>\n<\/ul>\n\n\n\n
Bybit, the fourth largest exchange by trading volumes, is planning to halt US dollar deposits and withdrawals, including those through SWIFT, over what it has termed an outage from an end-point processing partner. The suspension would remain on until further communication.<\/p>\n\n\n\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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\n
\n
Prime brokerages have to supply the information by July 17.<\/li>\n\n\n\n
The move is believed to curtail a multi-tiered fee system loophole used by prime brokerages.<\/li>\n<\/ul>\n\n\n\n
Crypto exchange OKX wants prime brokerages to provide more information about their clients. Reports<\/a> indicate that the exchange asked for details about the subaccounts, the entities or individuals under them, and their jurisdiction.<\/p>\n\n\n\n
The information needs to be provided by July 17. A letter accompanying the request reads in part:<\/p>\n\n\n\n
\"A failure to do so may result in undisclosed subaccounts being restricted from trading and\/or subaccount closure.\"<\/em><\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance, OKX, And Bybit Suspend USDT And USDC Deposits on Solana<\/a><\/p>\n\n\n\n
Closing Loophole Used By Prime Brokers To Enjoy Lower Fees<\/h2>\n\n\n\n
The OKX move is believed to be informed by similar interventions made at rival crypto exchange Binance<\/a>. Earlier this month, Binance altered its Link Plus Interface, eliminating a loophole that key trading firms used to offer rebates to clients.\u00a0<\/p>\n\n\n\n
Often, exchanges give their large customers discounted trading fees, allowing them to trade like VIPs on their platforms. This gives a loophole for prime brokerages to funnel multiple customers via a single account to qualify for lower fees. <\/p>\n\n\n\n
Consequently, exchanges are cracking down on the loopholes that allow brokerages to bundle customers to enjoy lower trading fees. Previously, Binance said its move was to ensure compliance and level the playing ground for its users. Bybit is the other exchange that is said to be monitoring the developments that are curtailing the brokerage multi-tiered fee structure.<\/p>\n","post_title":"OKX Follows Binance In Asking Trading Firms For Information About Their Clients","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"okx-follows-binance-in-asking-trading-firms-for-information-about-their-clients","to_ping":"","pinged":"","post_modified":"2024-07-23 19:24:41","post_modified_gmt":"2024-07-23 09:24:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17849","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n
Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n
A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n
Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n
The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n
Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632911504776519680\n<\/div><\/figure>\n","post_title":"Bybit Teams Up with Mastercard to Launch Revolutionary Crypto Debit Card","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-teams-up-with-mastercard-to-launch-revolutionary-crypto-debit-card","to_ping":"","pinged":"","post_modified":"2023-03-07 23:37:04","post_modified_gmt":"2023-03-07 12:37:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10282","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10266,"post_author":"13","post_date":"2023-03-06 23:37:10","post_date_gmt":"2023-03-06 12:37:10","post_content":"\n
\n
It comes at a time the crypto space continues to digest the implications of the troubles facing Silvergate.<\/li>\n\n\n\n
Bybit joins other exchanges like Binance, forced to end USD transactions, partly due to regulatory pressure.<\/li>\n<\/ul>\n\n\n\n
Bybit, the fourth largest exchange by trading volumes, is planning to halt US dollar deposits and withdrawals, including those through SWIFT, over what it has termed an outage from an end-point processing partner. The suspension would remain on until further communication.<\/p>\n\n\n\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17849,"post_author":"21","post_date":"2024-07-23 19:24:38","post_date_gmt":"2024-07-23 09:24:38","post_content":"\n
\n
Prime brokerages have to supply the information by July 17.<\/li>\n\n\n\n
The move is believed to curtail a multi-tiered fee system loophole used by prime brokerages.<\/li>\n<\/ul>\n\n\n\n
Crypto exchange OKX wants prime brokerages to provide more information about their clients. Reports<\/a> indicate that the exchange asked for details about the subaccounts, the entities or individuals under them, and their jurisdiction.<\/p>\n\n\n\n
The information needs to be provided by July 17. A letter accompanying the request reads in part:<\/p>\n\n\n\n
\"A failure to do so may result in undisclosed subaccounts being restricted from trading and\/or subaccount closure.\"<\/em><\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance, OKX, And Bybit Suspend USDT And USDC Deposits on Solana<\/a><\/p>\n\n\n\n
Closing Loophole Used By Prime Brokers To Enjoy Lower Fees<\/h2>\n\n\n\n
The OKX move is believed to be informed by similar interventions made at rival crypto exchange Binance<\/a>. Earlier this month, Binance altered its Link Plus Interface, eliminating a loophole that key trading firms used to offer rebates to clients.\u00a0<\/p>\n\n\n\n
Often, exchanges give their large customers discounted trading fees, allowing them to trade like VIPs on their platforms. This gives a loophole for prime brokerages to funnel multiple customers via a single account to qualify for lower fees. <\/p>\n\n\n\n
Consequently, exchanges are cracking down on the loopholes that allow brokerages to bundle customers to enjoy lower trading fees. Previously, Binance said its move was to ensure compliance and level the playing ground for its users. Bybit is the other exchange that is said to be monitoring the developments that are curtailing the brokerage multi-tiered fee structure.<\/p>\n","post_title":"OKX Follows Binance In Asking Trading Firms For Information About Their Clients","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"okx-follows-binance-in-asking-trading-firms-for-information-about-their-clients","to_ping":"","pinged":"","post_modified":"2024-07-23 19:24:41","post_modified_gmt":"2024-07-23 09:24:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17849","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n
Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n
A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n
Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n
The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n
Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632911504776519680\n<\/div><\/figure>\n","post_title":"Bybit Teams Up with Mastercard to Launch Revolutionary Crypto Debit Card","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-teams-up-with-mastercard-to-launch-revolutionary-crypto-debit-card","to_ping":"","pinged":"","post_modified":"2023-03-07 23:37:04","post_modified_gmt":"2023-03-07 12:37:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10282","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10266,"post_author":"13","post_date":"2023-03-06 23:37:10","post_date_gmt":"2023-03-06 12:37:10","post_content":"\n
\n
It comes at a time the crypto space continues to digest the implications of the troubles facing Silvergate.<\/li>\n\n\n\n
Bybit joins other exchanges like Binance, forced to end USD transactions, partly due to regulatory pressure.<\/li>\n<\/ul>\n\n\n\n
Bybit, the fourth largest exchange by trading volumes, is planning to halt US dollar deposits and withdrawals, including those through SWIFT, over what it has termed an outage from an end-point processing partner. The suspension would remain on until further communication.<\/p>\n\n\n\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17849,"post_author":"21","post_date":"2024-07-23 19:24:38","post_date_gmt":"2024-07-23 09:24:38","post_content":"\n
\n
Prime brokerages have to supply the information by July 17.<\/li>\n\n\n\n
The move is believed to curtail a multi-tiered fee system loophole used by prime brokerages.<\/li>\n<\/ul>\n\n\n\n
Crypto exchange OKX wants prime brokerages to provide more information about their clients. Reports<\/a> indicate that the exchange asked for details about the subaccounts, the entities or individuals under them, and their jurisdiction.<\/p>\n\n\n\n
The information needs to be provided by July 17. A letter accompanying the request reads in part:<\/p>\n\n\n\n
\"A failure to do so may result in undisclosed subaccounts being restricted from trading and\/or subaccount closure.\"<\/em><\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance, OKX, And Bybit Suspend USDT And USDC Deposits on Solana<\/a><\/p>\n\n\n\n
Closing Loophole Used By Prime Brokers To Enjoy Lower Fees<\/h2>\n\n\n\n
The OKX move is believed to be informed by similar interventions made at rival crypto exchange Binance<\/a>. Earlier this month, Binance altered its Link Plus Interface, eliminating a loophole that key trading firms used to offer rebates to clients.\u00a0<\/p>\n\n\n\n
Often, exchanges give their large customers discounted trading fees, allowing them to trade like VIPs on their platforms. This gives a loophole for prime brokerages to funnel multiple customers via a single account to qualify for lower fees. <\/p>\n\n\n\n
Consequently, exchanges are cracking down on the loopholes that allow brokerages to bundle customers to enjoy lower trading fees. Previously, Binance said its move was to ensure compliance and level the playing ground for its users. Bybit is the other exchange that is said to be monitoring the developments that are curtailing the brokerage multi-tiered fee structure.<\/p>\n","post_title":"OKX Follows Binance In Asking Trading Firms For Information About Their Clients","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"okx-follows-binance-in-asking-trading-firms-for-information-about-their-clients","to_ping":"","pinged":"","post_modified":"2024-07-23 19:24:41","post_modified_gmt":"2024-07-23 09:24:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17849","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n
Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n
A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n
Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n
The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n
Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632911504776519680\n<\/div><\/figure>\n","post_title":"Bybit Teams Up with Mastercard to Launch Revolutionary Crypto Debit Card","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-teams-up-with-mastercard-to-launch-revolutionary-crypto-debit-card","to_ping":"","pinged":"","post_modified":"2023-03-07 23:37:04","post_modified_gmt":"2023-03-07 12:37:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10282","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10266,"post_author":"13","post_date":"2023-03-06 23:37:10","post_date_gmt":"2023-03-06 12:37:10","post_content":"\n
\n
It comes at a time the crypto space continues to digest the implications of the troubles facing Silvergate.<\/li>\n\n\n\n
Bybit joins other exchanges like Binance, forced to end USD transactions, partly due to regulatory pressure.<\/li>\n<\/ul>\n\n\n\n
Bybit, the fourth largest exchange by trading volumes, is planning to halt US dollar deposits and withdrawals, including those through SWIFT, over what it has termed an outage from an end-point processing partner. The suspension would remain on until further communication.<\/p>\n\n\n\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Argentina Approves Bybit’s VASP Registration As Country Tightens Crypto Laws

August 19, 2024

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Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

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November 24, 2024

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Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

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By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17849,"post_author":"21","post_date":"2024-07-23 19:24:38","post_date_gmt":"2024-07-23 09:24:38","post_content":"\n
\n
Prime brokerages have to supply the information by July 17.<\/li>\n\n\n\n
The move is believed to curtail a multi-tiered fee system loophole used by prime brokerages.<\/li>\n<\/ul>\n\n\n\n
Crypto exchange OKX wants prime brokerages to provide more information about their clients. Reports<\/a> indicate that the exchange asked for details about the subaccounts, the entities or individuals under them, and their jurisdiction.<\/p>\n\n\n\n
The information needs to be provided by July 17. A letter accompanying the request reads in part:<\/p>\n\n\n\n
\"A failure to do so may result in undisclosed subaccounts being restricted from trading and\/or subaccount closure.\"<\/em><\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance, OKX, And Bybit Suspend USDT And USDC Deposits on Solana<\/a><\/p>\n\n\n\n
Closing Loophole Used By Prime Brokers To Enjoy Lower Fees<\/h2>\n\n\n\n
The OKX move is believed to be informed by similar interventions made at rival crypto exchange Binance<\/a>. Earlier this month, Binance altered its Link Plus Interface, eliminating a loophole that key trading firms used to offer rebates to clients.\u00a0<\/p>\n\n\n\n
Often, exchanges give their large customers discounted trading fees, allowing them to trade like VIPs on their platforms. This gives a loophole for prime brokerages to funnel multiple customers via a single account to qualify for lower fees. <\/p>\n\n\n\n
Consequently, exchanges are cracking down on the loopholes that allow brokerages to bundle customers to enjoy lower trading fees. Previously, Binance said its move was to ensure compliance and level the playing ground for its users. Bybit is the other exchange that is said to be monitoring the developments that are curtailing the brokerage multi-tiered fee structure.<\/p>\n","post_title":"OKX Follows Binance In Asking Trading Firms For Information About Their Clients","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"okx-follows-binance-in-asking-trading-firms-for-information-about-their-clients","to_ping":"","pinged":"","post_modified":"2024-07-23 19:24:41","post_modified_gmt":"2024-07-23 09:24:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17849","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n
Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n
A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n
Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n
The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n
Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632911504776519680\n<\/div><\/figure>\n","post_title":"Bybit Teams Up with Mastercard to Launch Revolutionary Crypto Debit Card","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-teams-up-with-mastercard-to-launch-revolutionary-crypto-debit-card","to_ping":"","pinged":"","post_modified":"2023-03-07 23:37:04","post_modified_gmt":"2023-03-07 12:37:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10282","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10266,"post_author":"13","post_date":"2023-03-06 23:37:10","post_date_gmt":"2023-03-06 12:37:10","post_content":"\n
\n
It comes at a time the crypto space continues to digest the implications of the troubles facing Silvergate.<\/li>\n\n\n\n
Bybit joins other exchanges like Binance, forced to end USD transactions, partly due to regulatory pressure.<\/li>\n<\/ul>\n\n\n\n
Bybit, the fourth largest exchange by trading volumes, is planning to halt US dollar deposits and withdrawals, including those through SWIFT, over what it has termed an outage from an end-point processing partner. The suspension would remain on until further communication.<\/p>\n\n\n\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17849,"post_author":"21","post_date":"2024-07-23 19:24:38","post_date_gmt":"2024-07-23 09:24:38","post_content":"\n
\n
Prime brokerages have to supply the information by July 17.<\/li>\n\n\n\n
The move is believed to curtail a multi-tiered fee system loophole used by prime brokerages.<\/li>\n<\/ul>\n\n\n\n
Crypto exchange OKX wants prime brokerages to provide more information about their clients. Reports<\/a> indicate that the exchange asked for details about the subaccounts, the entities or individuals under them, and their jurisdiction.<\/p>\n\n\n\n
The information needs to be provided by July 17. A letter accompanying the request reads in part:<\/p>\n\n\n\n
\"A failure to do so may result in undisclosed subaccounts being restricted from trading and\/or subaccount closure.\"<\/em><\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance, OKX, And Bybit Suspend USDT And USDC Deposits on Solana<\/a><\/p>\n\n\n\n
Closing Loophole Used By Prime Brokers To Enjoy Lower Fees<\/h2>\n\n\n\n
The OKX move is believed to be informed by similar interventions made at rival crypto exchange Binance<\/a>. Earlier this month, Binance altered its Link Plus Interface, eliminating a loophole that key trading firms used to offer rebates to clients.\u00a0<\/p>\n\n\n\n
Often, exchanges give their large customers discounted trading fees, allowing them to trade like VIPs on their platforms. This gives a loophole for prime brokerages to funnel multiple customers via a single account to qualify for lower fees. <\/p>\n\n\n\n
Consequently, exchanges are cracking down on the loopholes that allow brokerages to bundle customers to enjoy lower trading fees. Previously, Binance said its move was to ensure compliance and level the playing ground for its users. Bybit is the other exchange that is said to be monitoring the developments that are curtailing the brokerage multi-tiered fee structure.<\/p>\n","post_title":"OKX Follows Binance In Asking Trading Firms For Information About Their Clients","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"okx-follows-binance-in-asking-trading-firms-for-information-about-their-clients","to_ping":"","pinged":"","post_modified":"2024-07-23 19:24:41","post_modified_gmt":"2024-07-23 09:24:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17849","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n
Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n
A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n
Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n
The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n
Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632911504776519680\n<\/div><\/figure>\n","post_title":"Bybit Teams Up with Mastercard to Launch Revolutionary Crypto Debit Card","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-teams-up-with-mastercard-to-launch-revolutionary-crypto-debit-card","to_ping":"","pinged":"","post_modified":"2023-03-07 23:37:04","post_modified_gmt":"2023-03-07 12:37:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10282","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10266,"post_author":"13","post_date":"2023-03-06 23:37:10","post_date_gmt":"2023-03-06 12:37:10","post_content":"\n
\n
It comes at a time the crypto space continues to digest the implications of the troubles facing Silvergate.<\/li>\n\n\n\n
Bybit joins other exchanges like Binance, forced to end USD transactions, partly due to regulatory pressure.<\/li>\n<\/ul>\n\n\n\n
Bybit, the fourth largest exchange by trading volumes, is planning to halt US dollar deposits and withdrawals, including those through SWIFT, over what it has termed an outage from an end-point processing partner. The suspension would remain on until further communication.<\/p>\n\n\n\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17849,"post_author":"21","post_date":"2024-07-23 19:24:38","post_date_gmt":"2024-07-23 09:24:38","post_content":"\n
\n
Prime brokerages have to supply the information by July 17.<\/li>\n\n\n\n
The move is believed to curtail a multi-tiered fee system loophole used by prime brokerages.<\/li>\n<\/ul>\n\n\n\n
Crypto exchange OKX wants prime brokerages to provide more information about their clients. Reports<\/a> indicate that the exchange asked for details about the subaccounts, the entities or individuals under them, and their jurisdiction.<\/p>\n\n\n\n
The information needs to be provided by July 17. A letter accompanying the request reads in part:<\/p>\n\n\n\n
\"A failure to do so may result in undisclosed subaccounts being restricted from trading and\/or subaccount closure.\"<\/em><\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance, OKX, And Bybit Suspend USDT And USDC Deposits on Solana<\/a><\/p>\n\n\n\n
Closing Loophole Used By Prime Brokers To Enjoy Lower Fees<\/h2>\n\n\n\n
The OKX move is believed to be informed by similar interventions made at rival crypto exchange Binance<\/a>. Earlier this month, Binance altered its Link Plus Interface, eliminating a loophole that key trading firms used to offer rebates to clients.\u00a0<\/p>\n\n\n\n
Often, exchanges give their large customers discounted trading fees, allowing them to trade like VIPs on their platforms. This gives a loophole for prime brokerages to funnel multiple customers via a single account to qualify for lower fees. <\/p>\n\n\n\n
Consequently, exchanges are cracking down on the loopholes that allow brokerages to bundle customers to enjoy lower trading fees. Previously, Binance said its move was to ensure compliance and level the playing ground for its users. Bybit is the other exchange that is said to be monitoring the developments that are curtailing the brokerage multi-tiered fee structure.<\/p>\n","post_title":"OKX Follows Binance In Asking Trading Firms For Information About Their Clients","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"okx-follows-binance-in-asking-trading-firms-for-information-about-their-clients","to_ping":"","pinged":"","post_modified":"2024-07-23 19:24:41","post_modified_gmt":"2024-07-23 09:24:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17849","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n
Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n
A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n
Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n
The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n
Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632911504776519680\n<\/div><\/figure>\n","post_title":"Bybit Teams Up with Mastercard to Launch Revolutionary Crypto Debit Card","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-teams-up-with-mastercard-to-launch-revolutionary-crypto-debit-card","to_ping":"","pinged":"","post_modified":"2023-03-07 23:37:04","post_modified_gmt":"2023-03-07 12:37:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10282","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10266,"post_author":"13","post_date":"2023-03-06 23:37:10","post_date_gmt":"2023-03-06 12:37:10","post_content":"\n
\n
It comes at a time the crypto space continues to digest the implications of the troubles facing Silvergate.<\/li>\n\n\n\n
Bybit joins other exchanges like Binance, forced to end USD transactions, partly due to regulatory pressure.<\/li>\n<\/ul>\n\n\n\n
Bybit, the fourth largest exchange by trading volumes, is planning to halt US dollar deposits and withdrawals, including those through SWIFT, over what it has termed an outage from an end-point processing partner. The suspension would remain on until further communication.<\/p>\n\n\n\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Adoption

Argentina Approves Bybit’s VASP Registration As Country Tightens Crypto Laws

August 19, 2024

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Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

December 19, 2024

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Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

August 15, 2024

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Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

November 24, 2024

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Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

November 24, 2024

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Type your email here

Follow The Distributed

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ADVERTISEMENT

\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17849,"post_author":"21","post_date":"2024-07-23 19:24:38","post_date_gmt":"2024-07-23 09:24:38","post_content":"\n
\n
Prime brokerages have to supply the information by July 17.<\/li>\n\n\n\n
The move is believed to curtail a multi-tiered fee system loophole used by prime brokerages.<\/li>\n<\/ul>\n\n\n\n
Crypto exchange OKX wants prime brokerages to provide more information about their clients. Reports<\/a> indicate that the exchange asked for details about the subaccounts, the entities or individuals under them, and their jurisdiction.<\/p>\n\n\n\n
The information needs to be provided by July 17. A letter accompanying the request reads in part:<\/p>\n\n\n\n
\"A failure to do so may result in undisclosed subaccounts being restricted from trading and\/or subaccount closure.\"<\/em><\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance, OKX, And Bybit Suspend USDT And USDC Deposits on Solana<\/a><\/p>\n\n\n\n
Closing Loophole Used By Prime Brokers To Enjoy Lower Fees<\/h2>\n\n\n\n
The OKX move is believed to be informed by similar interventions made at rival crypto exchange Binance<\/a>. Earlier this month, Binance altered its Link Plus Interface, eliminating a loophole that key trading firms used to offer rebates to clients.\u00a0<\/p>\n\n\n\n
Often, exchanges give their large customers discounted trading fees, allowing them to trade like VIPs on their platforms. This gives a loophole for prime brokerages to funnel multiple customers via a single account to qualify for lower fees. <\/p>\n\n\n\n
Consequently, exchanges are cracking down on the loopholes that allow brokerages to bundle customers to enjoy lower trading fees. Previously, Binance said its move was to ensure compliance and level the playing ground for its users. Bybit is the other exchange that is said to be monitoring the developments that are curtailing the brokerage multi-tiered fee structure.<\/p>\n","post_title":"OKX Follows Binance In Asking Trading Firms For Information About Their Clients","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"okx-follows-binance-in-asking-trading-firms-for-information-about-their-clients","to_ping":"","pinged":"","post_modified":"2024-07-23 19:24:41","post_modified_gmt":"2024-07-23 09:24:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17849","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n
Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n
A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n
Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n
The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n
Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632911504776519680\n<\/div><\/figure>\n","post_title":"Bybit Teams Up with Mastercard to Launch Revolutionary Crypto Debit Card","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-teams-up-with-mastercard-to-launch-revolutionary-crypto-debit-card","to_ping":"","pinged":"","post_modified":"2023-03-07 23:37:04","post_modified_gmt":"2023-03-07 12:37:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10282","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10266,"post_author":"13","post_date":"2023-03-06 23:37:10","post_date_gmt":"2023-03-06 12:37:10","post_content":"\n
\n
It comes at a time the crypto space continues to digest the implications of the troubles facing Silvergate.<\/li>\n\n\n\n
Bybit joins other exchanges like Binance, forced to end USD transactions, partly due to regulatory pressure.<\/li>\n<\/ul>\n\n\n\n
Bybit, the fourth largest exchange by trading volumes, is planning to halt US dollar deposits and withdrawals, including those through SWIFT, over what it has termed an outage from an end-point processing partner. The suspension would remain on until further communication.<\/p>\n\n\n\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17849,"post_author":"21","post_date":"2024-07-23 19:24:38","post_date_gmt":"2024-07-23 09:24:38","post_content":"\n
\n
Prime brokerages have to supply the information by July 17.<\/li>\n\n\n\n
The move is believed to curtail a multi-tiered fee system loophole used by prime brokerages.<\/li>\n<\/ul>\n\n\n\n
Crypto exchange OKX wants prime brokerages to provide more information about their clients. Reports<\/a> indicate that the exchange asked for details about the subaccounts, the entities or individuals under them, and their jurisdiction.<\/p>\n\n\n\n
The information needs to be provided by July 17. A letter accompanying the request reads in part:<\/p>\n\n\n\n
\"A failure to do so may result in undisclosed subaccounts being restricted from trading and\/or subaccount closure.\"<\/em><\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance, OKX, And Bybit Suspend USDT And USDC Deposits on Solana<\/a><\/p>\n\n\n\n
Closing Loophole Used By Prime Brokers To Enjoy Lower Fees<\/h2>\n\n\n\n
The OKX move is believed to be informed by similar interventions made at rival crypto exchange Binance<\/a>. Earlier this month, Binance altered its Link Plus Interface, eliminating a loophole that key trading firms used to offer rebates to clients.\u00a0<\/p>\n\n\n\n
Often, exchanges give their large customers discounted trading fees, allowing them to trade like VIPs on their platforms. This gives a loophole for prime brokerages to funnel multiple customers via a single account to qualify for lower fees. <\/p>\n\n\n\n
Consequently, exchanges are cracking down on the loopholes that allow brokerages to bundle customers to enjoy lower trading fees. Previously, Binance said its move was to ensure compliance and level the playing ground for its users. Bybit is the other exchange that is said to be monitoring the developments that are curtailing the brokerage multi-tiered fee structure.<\/p>\n","post_title":"OKX Follows Binance In Asking Trading Firms For Information About Their Clients","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"okx-follows-binance-in-asking-trading-firms-for-information-about-their-clients","to_ping":"","pinged":"","post_modified":"2024-07-23 19:24:41","post_modified_gmt":"2024-07-23 09:24:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17849","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n
Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n
A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n
Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n
The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n
Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632911504776519680\n<\/div><\/figure>\n","post_title":"Bybit Teams Up with Mastercard to Launch Revolutionary Crypto Debit Card","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-teams-up-with-mastercard-to-launch-revolutionary-crypto-debit-card","to_ping":"","pinged":"","post_modified":"2023-03-07 23:37:04","post_modified_gmt":"2023-03-07 12:37:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10282","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10266,"post_author":"13","post_date":"2023-03-06 23:37:10","post_date_gmt":"2023-03-06 12:37:10","post_content":"\n
\n
It comes at a time the crypto space continues to digest the implications of the troubles facing Silvergate.<\/li>\n\n\n\n
Bybit joins other exchanges like Binance, forced to end USD transactions, partly due to regulatory pressure.<\/li>\n<\/ul>\n\n\n\n
Bybit, the fourth largest exchange by trading volumes, is planning to halt US dollar deposits and withdrawals, including those through SWIFT, over what it has termed an outage from an end-point processing partner. The suspension would remain on until further communication.<\/p>\n\n\n\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17849,"post_author":"21","post_date":"2024-07-23 19:24:38","post_date_gmt":"2024-07-23 09:24:38","post_content":"\n
\n
Prime brokerages have to supply the information by July 17.<\/li>\n\n\n\n
The move is believed to curtail a multi-tiered fee system loophole used by prime brokerages.<\/li>\n<\/ul>\n\n\n\n
Crypto exchange OKX wants prime brokerages to provide more information about their clients. Reports<\/a> indicate that the exchange asked for details about the subaccounts, the entities or individuals under them, and their jurisdiction.<\/p>\n\n\n\n
The information needs to be provided by July 17. A letter accompanying the request reads in part:<\/p>\n\n\n\n
\"A failure to do so may result in undisclosed subaccounts being restricted from trading and\/or subaccount closure.\"<\/em><\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance, OKX, And Bybit Suspend USDT And USDC Deposits on Solana<\/a><\/p>\n\n\n\n
Closing Loophole Used By Prime Brokers To Enjoy Lower Fees<\/h2>\n\n\n\n
The OKX move is believed to be informed by similar interventions made at rival crypto exchange Binance<\/a>. Earlier this month, Binance altered its Link Plus Interface, eliminating a loophole that key trading firms used to offer rebates to clients.\u00a0<\/p>\n\n\n\n
Often, exchanges give their large customers discounted trading fees, allowing them to trade like VIPs on their platforms. This gives a loophole for prime brokerages to funnel multiple customers via a single account to qualify for lower fees. <\/p>\n\n\n\n
Consequently, exchanges are cracking down on the loopholes that allow brokerages to bundle customers to enjoy lower trading fees. Previously, Binance said its move was to ensure compliance and level the playing ground for its users. Bybit is the other exchange that is said to be monitoring the developments that are curtailing the brokerage multi-tiered fee structure.<\/p>\n","post_title":"OKX Follows Binance In Asking Trading Firms For Information About Their Clients","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"okx-follows-binance-in-asking-trading-firms-for-information-about-their-clients","to_ping":"","pinged":"","post_modified":"2024-07-23 19:24:41","post_modified_gmt":"2024-07-23 09:24:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17849","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n
Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n
A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n
Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n
The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n
Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632911504776519680\n<\/div><\/figure>\n","post_title":"Bybit Teams Up with Mastercard to Launch Revolutionary Crypto Debit Card","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-teams-up-with-mastercard-to-launch-revolutionary-crypto-debit-card","to_ping":"","pinged":"","post_modified":"2023-03-07 23:37:04","post_modified_gmt":"2023-03-07 12:37:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10282","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10266,"post_author":"13","post_date":"2023-03-06 23:37:10","post_date_gmt":"2023-03-06 12:37:10","post_content":"\n
\n
It comes at a time the crypto space continues to digest the implications of the troubles facing Silvergate.<\/li>\n\n\n\n
Bybit joins other exchanges like Binance, forced to end USD transactions, partly due to regulatory pressure.<\/li>\n<\/ul>\n\n\n\n
Bybit, the fourth largest exchange by trading volumes, is planning to halt US dollar deposits and withdrawals, including those through SWIFT, over what it has termed an outage from an end-point processing partner. The suspension would remain on until further communication.<\/p>\n\n\n\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Follow The Distributed

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\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17849,"post_author":"21","post_date":"2024-07-23 19:24:38","post_date_gmt":"2024-07-23 09:24:38","post_content":"\n
\n
Prime brokerages have to supply the information by July 17.<\/li>\n\n\n\n
The move is believed to curtail a multi-tiered fee system loophole used by prime brokerages.<\/li>\n<\/ul>\n\n\n\n
Crypto exchange OKX wants prime brokerages to provide more information about their clients. Reports<\/a> indicate that the exchange asked for details about the subaccounts, the entities or individuals under them, and their jurisdiction.<\/p>\n\n\n\n
The information needs to be provided by July 17. A letter accompanying the request reads in part:<\/p>\n\n\n\n
\"A failure to do so may result in undisclosed subaccounts being restricted from trading and\/or subaccount closure.\"<\/em><\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance, OKX, And Bybit Suspend USDT And USDC Deposits on Solana<\/a><\/p>\n\n\n\n
Closing Loophole Used By Prime Brokers To Enjoy Lower Fees<\/h2>\n\n\n\n
The OKX move is believed to be informed by similar interventions made at rival crypto exchange Binance<\/a>. Earlier this month, Binance altered its Link Plus Interface, eliminating a loophole that key trading firms used to offer rebates to clients.\u00a0<\/p>\n\n\n\n
Often, exchanges give their large customers discounted trading fees, allowing them to trade like VIPs on their platforms. This gives a loophole for prime brokerages to funnel multiple customers via a single account to qualify for lower fees. <\/p>\n\n\n\n
Consequently, exchanges are cracking down on the loopholes that allow brokerages to bundle customers to enjoy lower trading fees. Previously, Binance said its move was to ensure compliance and level the playing ground for its users. Bybit is the other exchange that is said to be monitoring the developments that are curtailing the brokerage multi-tiered fee structure.<\/p>\n","post_title":"OKX Follows Binance In Asking Trading Firms For Information About Their Clients","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"okx-follows-binance-in-asking-trading-firms-for-information-about-their-clients","to_ping":"","pinged":"","post_modified":"2024-07-23 19:24:41","post_modified_gmt":"2024-07-23 09:24:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17849","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n
Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n
A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n
Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n
The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n
Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632911504776519680\n<\/div><\/figure>\n","post_title":"Bybit Teams Up with Mastercard to Launch Revolutionary Crypto Debit Card","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-teams-up-with-mastercard-to-launch-revolutionary-crypto-debit-card","to_ping":"","pinged":"","post_modified":"2023-03-07 23:37:04","post_modified_gmt":"2023-03-07 12:37:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10282","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10266,"post_author":"13","post_date":"2023-03-06 23:37:10","post_date_gmt":"2023-03-06 12:37:10","post_content":"\n
\n
It comes at a time the crypto space continues to digest the implications of the troubles facing Silvergate.<\/li>\n\n\n\n
Bybit joins other exchanges like Binance, forced to end USD transactions, partly due to regulatory pressure.<\/li>\n<\/ul>\n\n\n\n
Bybit, the fourth largest exchange by trading volumes, is planning to halt US dollar deposits and withdrawals, including those through SWIFT, over what it has termed an outage from an end-point processing partner. The suspension would remain on until further communication.<\/p>\n\n\n\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17849,"post_author":"21","post_date":"2024-07-23 19:24:38","post_date_gmt":"2024-07-23 09:24:38","post_content":"\n
\n
Prime brokerages have to supply the information by July 17.<\/li>\n\n\n\n
The move is believed to curtail a multi-tiered fee system loophole used by prime brokerages.<\/li>\n<\/ul>\n\n\n\n
Crypto exchange OKX wants prime brokerages to provide more information about their clients. Reports<\/a> indicate that the exchange asked for details about the subaccounts, the entities or individuals under them, and their jurisdiction.<\/p>\n\n\n\n
The information needs to be provided by July 17. A letter accompanying the request reads in part:<\/p>\n\n\n\n
\"A failure to do so may result in undisclosed subaccounts being restricted from trading and\/or subaccount closure.\"<\/em><\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance, OKX, And Bybit Suspend USDT And USDC Deposits on Solana<\/a><\/p>\n\n\n\n
Closing Loophole Used By Prime Brokers To Enjoy Lower Fees<\/h2>\n\n\n\n
The OKX move is believed to be informed by similar interventions made at rival crypto exchange Binance<\/a>. Earlier this month, Binance altered its Link Plus Interface, eliminating a loophole that key trading firms used to offer rebates to clients.\u00a0<\/p>\n\n\n\n
Often, exchanges give their large customers discounted trading fees, allowing them to trade like VIPs on their platforms. This gives a loophole for prime brokerages to funnel multiple customers via a single account to qualify for lower fees. <\/p>\n\n\n\n
Consequently, exchanges are cracking down on the loopholes that allow brokerages to bundle customers to enjoy lower trading fees. Previously, Binance said its move was to ensure compliance and level the playing ground for its users. Bybit is the other exchange that is said to be monitoring the developments that are curtailing the brokerage multi-tiered fee structure.<\/p>\n","post_title":"OKX Follows Binance In Asking Trading Firms For Information About Their Clients","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"okx-follows-binance-in-asking-trading-firms-for-information-about-their-clients","to_ping":"","pinged":"","post_modified":"2024-07-23 19:24:41","post_modified_gmt":"2024-07-23 09:24:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17849","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n
Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n
A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n
Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n
The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n
Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632911504776519680\n<\/div><\/figure>\n","post_title":"Bybit Teams Up with Mastercard to Launch Revolutionary Crypto Debit Card","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-teams-up-with-mastercard-to-launch-revolutionary-crypto-debit-card","to_ping":"","pinged":"","post_modified":"2023-03-07 23:37:04","post_modified_gmt":"2023-03-07 12:37:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10282","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10266,"post_author":"13","post_date":"2023-03-06 23:37:10","post_date_gmt":"2023-03-06 12:37:10","post_content":"\n
\n
It comes at a time the crypto space continues to digest the implications of the troubles facing Silvergate.<\/li>\n\n\n\n
Bybit joins other exchanges like Binance, forced to end USD transactions, partly due to regulatory pressure.<\/li>\n<\/ul>\n\n\n\n
Bybit, the fourth largest exchange by trading volumes, is planning to halt US dollar deposits and withdrawals, including those through SWIFT, over what it has termed an outage from an end-point processing partner. The suspension would remain on until further communication.<\/p>\n\n\n\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17849,"post_author":"21","post_date":"2024-07-23 19:24:38","post_date_gmt":"2024-07-23 09:24:38","post_content":"\n
\n
Prime brokerages have to supply the information by July 17.<\/li>\n\n\n\n
The move is believed to curtail a multi-tiered fee system loophole used by prime brokerages.<\/li>\n<\/ul>\n\n\n\n
Crypto exchange OKX wants prime brokerages to provide more information about their clients. Reports<\/a> indicate that the exchange asked for details about the subaccounts, the entities or individuals under them, and their jurisdiction.<\/p>\n\n\n\n
The information needs to be provided by July 17. A letter accompanying the request reads in part:<\/p>\n\n\n\n
\"A failure to do so may result in undisclosed subaccounts being restricted from trading and\/or subaccount closure.\"<\/em><\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance, OKX, And Bybit Suspend USDT And USDC Deposits on Solana<\/a><\/p>\n\n\n\n
Closing Loophole Used By Prime Brokers To Enjoy Lower Fees<\/h2>\n\n\n\n
The OKX move is believed to be informed by similar interventions made at rival crypto exchange Binance<\/a>. Earlier this month, Binance altered its Link Plus Interface, eliminating a loophole that key trading firms used to offer rebates to clients.\u00a0<\/p>\n\n\n\n
Often, exchanges give their large customers discounted trading fees, allowing them to trade like VIPs on their platforms. This gives a loophole for prime brokerages to funnel multiple customers via a single account to qualify for lower fees. <\/p>\n\n\n\n
Consequently, exchanges are cracking down on the loopholes that allow brokerages to bundle customers to enjoy lower trading fees. Previously, Binance said its move was to ensure compliance and level the playing ground for its users. Bybit is the other exchange that is said to be monitoring the developments that are curtailing the brokerage multi-tiered fee structure.<\/p>\n","post_title":"OKX Follows Binance In Asking Trading Firms For Information About Their Clients","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"okx-follows-binance-in-asking-trading-firms-for-information-about-their-clients","to_ping":"","pinged":"","post_modified":"2024-07-23 19:24:41","post_modified_gmt":"2024-07-23 09:24:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17849","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n
Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n
A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n
Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n
The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n
Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632911504776519680\n<\/div><\/figure>\n","post_title":"Bybit Teams Up with Mastercard to Launch Revolutionary Crypto Debit Card","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-teams-up-with-mastercard-to-launch-revolutionary-crypto-debit-card","to_ping":"","pinged":"","post_modified":"2023-03-07 23:37:04","post_modified_gmt":"2023-03-07 12:37:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10282","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10266,"post_author":"13","post_date":"2023-03-06 23:37:10","post_date_gmt":"2023-03-06 12:37:10","post_content":"\n
\n
It comes at a time the crypto space continues to digest the implications of the troubles facing Silvergate.<\/li>\n\n\n\n
Bybit joins other exchanges like Binance, forced to end USD transactions, partly due to regulatory pressure.<\/li>\n<\/ul>\n\n\n\n
Bybit, the fourth largest exchange by trading volumes, is planning to halt US dollar deposits and withdrawals, including those through SWIFT, over what it has termed an outage from an end-point processing partner. The suspension would remain on until further communication.<\/p>\n\n\n\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
\n
The country introduced new legislation in March to comply with the Financial Action Task Force requirements.<\/li>\n\n\n\n
Bybit\u2019s VASP registration is part of Argentina\u2019s broader efforts to regulate the crypto market, which is under increasing scrutiny from regulators.<\/li>\n<\/ul>\n\n\n\n
Cryptocurrency exchange Bybit has obtained registration as a Virtual Asset Service Provider (VASP) and card operator in Argentina, Cointelegraph reported. This move comes as Argentina tightens its crypto regulations, driven by domestic economic challenges and international pressure.<\/p>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision<\/a> to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
In March, Argentina introduced legislation to comply with the Financial Action Task Force (FATF) requirements, which aim to prevent money laundering and terrorist financing. Bybit\u2019s registration was approved by the Financial Information Unit (FIU), Argentina\u2019s financial intelligence agency tasked with enforcing these regulations.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved<\/a><\/p>\n\n\n\n
Defying Argentina\u2019s Economic Turmoil<\/h2>\n\n\n\n
Bybit, the second-largest crypto exchange by volume, entered the Argentine market in June 2022. The company\u2019s decision to seek VASP registration aligns with Argentina\u2019s recent efforts to regulate the crypto market.<\/p>\n\n\n\n
While Bybit has successfully solidified its position in Argentina, it faces regulatory hurdles in other markets. The company halted operations in France at the beginning of August after being listed on the French financial regulator\u2019s blacklist for unregistered operators. Similarly, Bybit withdrew from Canada in May 2023 due to new regulatory requirements.<\/p>\n\n\n\n
To address this growing trend, Argentina\u2019s government passed legislation in July that introduces tax amnesty for up to $100,000, including registered crypto assets. The General Inspectorate of Justice also approved the use of cryptocurrency in registered capital, further integrating digital assets into the country\u2019s financial system.<\/p>\n\n\n\n
Despite these advances, regulatory pressure remains. The FATF has scrutinized Argentina, prompting the government to implement measures to regulate the crypto market more effectively. Bybit\u2019s VASP registration is a direct result of these regulatory efforts, positioning the exchange to navigate Argentina\u2019s evolving financial landscape successfully.<\/p>\n","post_title":"Argentina Approves Bybit\u2019s VASP Registration As Country Tightens Crypto Laws","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"argentina-approves-bybits-vasp-registration-as-country-tightens-crypto-laws","to_ping":"","pinged":"","post_modified":"2024-08-19 18:08:32","post_modified_gmt":"2024-08-19 08:08:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18272","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17849,"post_author":"21","post_date":"2024-07-23 19:24:38","post_date_gmt":"2024-07-23 09:24:38","post_content":"\n
\n
Prime brokerages have to supply the information by July 17.<\/li>\n\n\n\n
The move is believed to curtail a multi-tiered fee system loophole used by prime brokerages.<\/li>\n<\/ul>\n\n\n\n
Crypto exchange OKX wants prime brokerages to provide more information about their clients. Reports<\/a> indicate that the exchange asked for details about the subaccounts, the entities or individuals under them, and their jurisdiction.<\/p>\n\n\n\n
The information needs to be provided by July 17. A letter accompanying the request reads in part:<\/p>\n\n\n\n
\"A failure to do so may result in undisclosed subaccounts being restricted from trading and\/or subaccount closure.\"<\/em><\/p>\n\n\n\n
See Related: <\/em><\/strong>Binance, OKX, And Bybit Suspend USDT And USDC Deposits on Solana<\/a><\/p>\n\n\n\n
Closing Loophole Used By Prime Brokers To Enjoy Lower Fees<\/h2>\n\n\n\n
The OKX move is believed to be informed by similar interventions made at rival crypto exchange Binance<\/a>. Earlier this month, Binance altered its Link Plus Interface, eliminating a loophole that key trading firms used to offer rebates to clients.\u00a0<\/p>\n\n\n\n
Often, exchanges give their large customers discounted trading fees, allowing them to trade like VIPs on their platforms. This gives a loophole for prime brokerages to funnel multiple customers via a single account to qualify for lower fees. <\/p>\n\n\n\n
Consequently, exchanges are cracking down on the loopholes that allow brokerages to bundle customers to enjoy lower trading fees. Previously, Binance said its move was to ensure compliance and level the playing ground for its users. Bybit is the other exchange that is said to be monitoring the developments that are curtailing the brokerage multi-tiered fee structure.<\/p>\n","post_title":"OKX Follows Binance In Asking Trading Firms For Information About Their Clients","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"okx-follows-binance-in-asking-trading-firms-for-information-about-their-clients","to_ping":"","pinged":"","post_modified":"2024-07-23 19:24:41","post_modified_gmt":"2024-07-23 09:24:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17849","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10282,"post_author":"15","post_date":"2023-03-07 23:34:17","post_date_gmt":"2023-03-07 12:34:17","post_content":"\n
Cryptocurrency derivatives exchange, Bybit, launched <\/a>a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit cards integrate with the Mastercard network and enable fiat-based transactions by deducting cryptocurrency balances. <\/p>\n\n\n\n
A virtual card for online purchases will be provided free of charge at launch. A physical debit card is scheduled for release in April 2023. The card supports BTC, ETH, USDT, USDC, and XRP balances. User accounts automatically convert payments into Euros or Pounds based on the user's country of residence. Moorwand payment solutions provider issues the card, with ATM withdrawals and global payments limited to the user's Bybit account's aggregated cryptocurrency holdings.<\/p>\n\n\n\n
Bybit's payment solution aims to bridge the gap between cryptocurrency and fiat-based transactions. This is possible by providing a secure and innovative way to manage digital assets and traditional currencies. Users can safely and easily use cryptocurrencies in their daily lives, potentially heralding a new era of cryptocurrency adoption. <\/p>\n\n\n\n
The new debit card service marks a significant milestone in the evolution of payment solutions and industry innovation in the cryptocurrency industry.<\/p>\n\n\n\n
Read More: <\/em><\/strong>Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019<\/a> <\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632911504776519680\n<\/div><\/figure>\n","post_title":"Bybit Teams Up with Mastercard to Launch Revolutionary Crypto Debit Card","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-teams-up-with-mastercard-to-launch-revolutionary-crypto-debit-card","to_ping":"","pinged":"","post_modified":"2023-03-07 23:37:04","post_modified_gmt":"2023-03-07 12:37:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10282","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":10266,"post_author":"13","post_date":"2023-03-06 23:37:10","post_date_gmt":"2023-03-06 12:37:10","post_content":"\n
\n
It comes at a time the crypto space continues to digest the implications of the troubles facing Silvergate.<\/li>\n\n\n\n
Bybit joins other exchanges like Binance, forced to end USD transactions, partly due to regulatory pressure.<\/li>\n<\/ul>\n\n\n\n
Bybit, the fourth largest exchange by trading volumes, is planning to halt US dollar deposits and withdrawals, including those through SWIFT, over what it has termed an outage from an end-point processing partner. The suspension would remain on until further communication.<\/p>\n\n\n\n
\u2018\u2018Withdrawals via Wire Transfers (including SWIFT) will also be suspended on March 10, 2023, 12 AM UTC due to the same end-point processing partner,\u2019\u2019<\/em> the exchange wrote on a blog post<\/a>. \u2018\u2018If you wish to make any withdrawals via these methods, please do so before March 10, 2023, UTC.\u2019\u2019<\/em><\/p>\n\n\n\n
\nhttps:\/\/twitter.com\/TheDistributed_\/status\/1632160586128830465\n<\/div><\/figure>\n\n\n\nSpeculations Around The Troubled Silvergate<\/h2>\n\n\n\n
The Dubai-based exchange has not disclosed the name of the partner experiencing the outage. However, speculations are pointing towards Silvergate, which announced Friday that it was closing its exchange network, an instant settlement banking service used by several cryptocurrency firms. Besides, the bank had to sever ties with major clients, including Coinbase, Circle, Crypto.com, and Kraken, after it announced that it could not meet the deadline for submitting its annual 10-K report and that it was assessing \u2018\u2018its ability to continue as a going concern.\u2019\u2019<\/em><\/p>\n\n\n\n
See Related:<\/em><\/strong> Silvergate Drops Over 50% In A Trading Day; Sees Its Biggest Clients Halting Business With The Bank<\/a><\/p>\n\n\n\n
Bybit is one of many exchanges that have had to halt its USD transactions over technical challenges and regulatory pressure. Binance announced a similar move last month, suspending bank transfers in USD without specific reasons.<\/p>\n\n\n\n
The trend comes amid increasing regulatory pressure in the US, especially after the implosion of FTX<\/a>. Most banking partners to crypto exchanges are backing off to remain on good terms with the watchdog. For instance, at the start of the year, Signature Bank stopped processing fiat to crypto transactions below $100,000, reducing up to $10 billion worth of deposits.<\/p>\n\n\n\n
See Related: <\/em><\/strong>Bitcoin And Ethereum Price Prediction After Silvergate Capital Announced That It\u2019s Experiencing Operational Issues<\/a><\/p>\n","post_title":"Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to \u2018Service Outages From A Partner\u2019","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bybit-suspends-usd-transactions-via-wire-and-bank-transfers-due-to-service-outages-from-a-partner","to_ping":"","pinged":"","post_modified":"2023-03-06 23:46:13","post_modified_gmt":"2023-03-06 12:46:13","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10266","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":8466,"post_author":"10","post_date":"2022-11-19 18:12:09","post_date_gmt":"2022-11-19 07:12:09","post_content":"\n
Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall in the price of Solana (SOL).<\/p>\n\n\n\n
\n
OKX announced<\/a> that it would be delisting USDC and USDT from Solana and no longer supporting deposits or withdrawals of either cryptocurrency.<\/li>\n<\/ul>\n\n\n\n
\n
Binance noted<\/a> it \u201creserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.\"<\/em><\/li>\n<\/ul>\n\n\n\n
\n
Additionally, the ByBit exchange delisted Solana-based stablecoins for deposits by 3 am UTC on November <\/a>17.<\/li>\n<\/ul>\n\n\n\n
\n
According to on-chain statistics, the supply of Solana-based USDC<\/a> is 62% larger than the supply of Solana-USDT<\/a>. The Solana-based USDC in circulation is about 5 billion. The Solana-based USDT in circulation is about 1.9 billion.<\/li>\n<\/ul>\n\n\n\n
\n
Following this, USDC issuer Circle tweeted that USDC on Solana runs normally and that there are no problems with issuing or redeeming the stablecoin. In addition, the company noted that \u201cUSDC is always redeemable 1 for 1 for US dollars. Any amount. Any time. For Free. Always.\u201d<\/em><\/li>\n<\/ul>\n\n\n\nSee Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n
Solana And FTX<\/h2>\n\n\n\n
\n
The decentralized blockchain, Solana, was linked to Sam Bankman-Fried\u2019s cryptocurrency exchange, FTX. Through Alameda Research, Bankman-Fried was one of the first investors in Solana holding in excess of $982M worth of SOL in FTXs balance sheet<\/a>, which was acquired by Financial Times. Along with FTX Token (FTT) and other related currencies, SOL has fallen in value amid the current FTX issue.<\/div><\/div><\/div><\/div><\/li>\n<\/ul>\n\n\n\n
\n
Since the announcement of the suspension of USDT and USDC based on Solana, the price of SOL has fallen by a further 7%, where it now trades<\/a> at $12.85.<\/div><\/li>\n<\/ul>\n\n\n\n
See Related: <\/em><\/strong>From Bad To Good To Worse: The Binance And FTX Saga<\/a><\/p>\n","post_title":"Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"crypto-exchang-binance-okx-and-bybit-suspend-usdt-and-usdc-deposits-on-solana","to_ping":"","pinged":"","post_modified":"2023-04-10 18:36:59","post_modified_gmt":"2023-04-10 08:36:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=8466","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6243,"post_author":"2","post_date":"2022-07-21 00:22:03","post_date_gmt":"2022-07-20 14:22:03","post_content":"\n
New York, New York, 20th July, 2022, Chainwire<\/strong><\/span><\/p>

\nNEW YORK, July 20, 2022 \u2014 Bybit is excited to announce the integration of 35+ Chainlink Price Feeds<\/u><\/a> into its spot trading platform on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Bybit now has access to high-quality, decentralized price data feeds for high-volume spot trading pairs. Chainlink Price Feeds add a crucial level of dependability and decentralization when calculating spot indices, ultimately giving Bybit users even higher assurances of accurate prices when making spot trades.

\nWith over 6 million registered users, Bybit is one of the fast-growing crypto exchanges that features a digital asset exchange with spot, perps, futures and options offerings, an NFT marketplace, and earning products that allow for DeFi yield access. With hundreds of trading pairs spanning spot indices and derivatives, Bybit takes a user-centric approach to platform development and aims to become a one-stop crypto hub for users.<\/p>\n

\nPrice volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not \u2014 and Bybit experiences price volatility on a daily basis. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets, which made a compelling case for the integration of Chainlink Price Feeds, the industry standard for decentralized price data across the DeFi<\/u><\/a> ecosystem.
<\/p>\n
The volume-weighted, aggregated price data helps improve Bybit\u2019s backend pricing mechanism, spot price outliers, and protect users in the case of extreme market volatility. Ultimately, this gives an extra level of confidence and trust to Bybit spot traders, who should always be able to execute trades in real-time market conditions. $\"\"$
<\/p>\n\n $\"\"$
Bybit chose Chainlink Price Feeds because they provide a robust source of truth on digital asset prices, with value-adds such as:\u00a0<\/p>\n
High-Quality Data \u2014 Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that\u2019s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes.\u00a0<\/li>\n
Secure Node Operators \u2014 Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.\u00a0<\/li>\n
Decentralized Network \u2014 Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.<\/li>\n
Transparency \u2014 Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.<\/li>\n<\/ul>
\u201cWe\u2019re always looking to improve Bybit\u2019s price accuracy and transparency in spot trading. These features underpin a better platform user experience that inspires user confidence in the underlying exchange. With this integration of Chainlink Price Feeds, our users have stronger assurances that they are trading using real-time, fair-market price data and that the platform itself has an additional layer of protection during extreme market events,\u201d said Ben Zhou, co-founder and CEO of Bybit.

About Chainlink<\/b>
\nChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.<\/p>\n
Learn more about Chainlink by visiting chain.link<\/u><\/a> or reading the developer documentation at docs.chain.link<\/u><\/a>. To discuss an integration, reach out to an expert<\/u><\/a>.\u00a0<\/p>\n
About Bybit<\/b><\/p>\n
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR) and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.<\/p>\n
For media inquiries, please contact: [email protected]<\/u><\/a><\/p>\n
For more information please visit: https:\/\/www.bybit.com\/<\/u><\/a><\/p>
Contacts<\/h5>PR<\/strong>
MarketAcross<\/strong><\/li>
MarketAcross PR, for Bybit<\/strong><\/li>
[email protected]<\/strong><\/li><\/ul>\n","post_title":"Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bybit-integrates-35-chainlink-price-feeds-for-enhanced-spot-trading-price-accuracy","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:44","post_modified_gmt":"2022-09-13 12:20:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6243","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Bybit

Adoption

Argentina Approves Bybit’s VASP Registration As Country Tightens Crypto Laws

The country introduced new legislation in March to comply with the Financial Action Task Force requirements. Bybit’s VASP registration is ...

by The Distributed Team
August 19, 2024

Adoption

OKX Follows Binance In Asking Trading Firms For Information About Their Clients

Prime brokerages have to supply the information by July 17. The move is believed to curtail a multi-tiered fee system ...

by Eric Nkando
July 23, 2024

Adoption

Bybit Teams Up with Mastercard to Launch Revolutionary Crypto Debit Card

Cryptocurrency derivatives exchange, Bybit, launched a debit card enabling users to use digital currencies for payments and cash withdrawals. Bybit ...

by Jeane Claude Vasquez
March 7, 2023

Business

Bybit Suspends USD Transactions Via Wire And Bank Transfers Due to ‘Service Outages From A Partner’

It comes at a time the crypto space continues to digest the implications of the troubles facing Silvergate. Bybit joins ...

by Jared Kirui
March 6, 2023

Blockchain

Binance, OKX, And Bybit, Suspend USDT And USDC Deposits on Solana

Binance and OKX recently announced they would temporarily halt deposits of Solana-based USDC and USDT. This led to a fall ...

by Joshua Olatunji
November 19, 2022

Industry Headlines

Bybit Integrates 35+ Chainlink Price Feeds for Enhanced Spot Trading Price Accuracy

New York, New York, 20th July, 2022, Chainwire NEW YORK, July 20, 2022 — Bybit is excited to announce the ...

by Chainwire
July 21, 2022

Most Read

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Argentina Approves Bybit’s VASP Registration As Country Tightens Crypto Laws

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