Bybit CEO: Era of Pure Crypto Exchanges Is Ending — SkimNews
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- Ben Zhou, Bybit's co-founder and CEO, told Cointelegraph on Thursday that the era of "pure crypto exchange" is ending because crypto traders also want stocks, gold, forex, indices and derivatives in a single venue.
- Bybit launched its "Make Your Move" campaign repositioning itself as a broader financial platform, though the exchange already offers derivatives tied to stocks, gold, indexes and forex providing price exposure without ownership of the underlying assets.
- BitMEX ended trading on Wednesday, closing out an 11-year run as a dedicated crypto derivatives venue.
- CoinEx announced a wind-down this month, citing falling trading volumes and rising compliance costs as the reasons it could not continue.
- BitMart announced plans to close in July but is now exploring a restructuring that could allow some operations to resume.
- Coinbase is pursuing a parallel expansion under its "Everything Exchange" strategy, adding stocks and prediction markets alongside crypto.
- Zhou's stated thesis: "The next generation of financial platforms won't be built around a single asset class."
Why it matters: The shift matters because it is happening in real time on both ends: three dedicated crypto venues (BitMEX closing after 11 years, CoinEx citing falling volumes and compliance costs, BitMart restructuring) are exiting in the same window while surviving platforms like Bybit and Coinbase race to add stocks, gold and prediction markets - concentrating remaining users onto a smaller set of multi-asset venues.
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