Exchange NewsAs a result of the crisis surrounding FTX, the cryptocurrency industry has been shaken to its core during the last two weeks. Both traders and organizations have been badly impacted since they have been confronted with monetary and/or operational challenges. As a leading cryptocurrency exchange, Bybit stated that it understands and sympathizes with these difficulties.
Bybits goal is to become the global Crypto Ark, and it claims to have worked hard to provide goods, possibilities, and next-level dependability. Recently with great pride, Bybit has announced the creation of its $100 Million Support Fund, which will be used to assist institutional traders in weathering the storm.
Here are further details:
- Market makers and HFT institutions on Bybit or any other exchanges are eligible.
- Quota per client: Subject to individual requests and approval (maximum $10M per client).
- Utilization of funds: spot as well as USDT Perpetual trading on Bybit.
- Interest rate: 0% P.A.
One can get in contact with their account manager if they need further details. Moreover, if anyone is interested in being one of Bybit’s market makers, they can send an email to institutional [email protected]
Source: https://thenewscrypto.com/bybit-introduces-100m-institution-support-fund/